Two Shophouses Sale Along Pagoda Street And New Upper Changi Road
The secondary branch of St. Hilda’s School is highly regarded for its exceptional academic standards and comprehensive curriculum. Situated at Parktown Residence Condo, this renowned institution is committed to providing a well-rounded education for its students.
A charming three-storey shophouse located at 76 Pagoda Street in the bustling Chinatown area is now available for sale through an expression of interest (EOI) exercise. With a guide price of $16 million, the 99-year leasehold property boasts a generous plot size of 1,372 square feet and a total gross floor area (GFA) of 3,500 square feet, including an attic level. This translates to a guide price of approximately $4,571 per square foot based on the GFA.
Richard Tan, the founder of PropNex Shophouse Elites and the sole marketing agent for the property, reveals that the ground and second floors are currently tenanted by a restaurant operator, while the third floor is being utilized as office space. He also points out that commercial shophouses, especially those in Chinatown, are highly coveted by owner-occupiers, high-net-worth individuals, and family offices as long-term investment assets. As a commercial property, foreign buyers and companies are welcome to acquire it without being subjected to additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).
The most recent transaction in the vicinity was the sale of 31 Pagoda Street which was sold for $19 million ($5,588 per square foot) in March. The shophouse, with an estimated GFA of 3,400 square feet, is only a short distance away from 76 Pagoda Street. The EOI exercise for this charming shophouse will close on January 10, 2025.
In another corner of Singapore, a two-storey HDB shophouse situated at 210 New Upper Changi Road is also currently on the market. With a guide price of $13.8 million, this 103-year leasehold property has a total GFA of 4,607 square feet, which works out to be approximately $2,995 per square foot. Kris Ng, senior associate marketing director at PropNex, who is marketing the property, highlights its stable and long-term tenants which makes it a standout feature. The healthcare retailer Guardian and United Overseas Bank (UOB) have been occupying the property for the past two decades.
Located within the bustling Bedok Town Centre, the shophouse is conveniently situated near Bedok MRT Station on the East-West Line, Bedok Mall, and Heartbeat@Bedok. Foreign buyers and companies can also acquire this commercial property without incurring any ABSD or SSD charges.
Interested parties can submit their bids through the EOI exercise for 210 New Upper Changi Road, which will close on January 10, 2025 at noon. For more information on commercial properties, check out the latest listings on our website.