A freehold commercial shophouse on Pagoda Street in Chinatown has been put up for sale with a guide price of $21.28 million. Savills Singapore is the appointed marketing agent.

The three-storey shophouse at 31 Pagoda Street sits on a 1,310 sq ft plot and it has a floor area of about 3,449 sq ft. The property is fully leased, with the ground-floor unit and third-floor unit tenanted to a restaurant while the second floor is rented to a fitness centre.

“31 Pagoda Street is fully tenanted and presents an exciting opportunity for investors seeking a prime commercial shophouse in the heart of Chinatown,” says Yap Hui Yee, executive director, investment sales & capital markets at Savills Singapore.

Read also: Singapore leaps to sixth place on Savills’ Resilient Cities Index

The shophouse is in the middle of the historic Chinatown district and it enjoys high pedestrian footfall throughout the day. The property is also close to Chinatown MRT Station on the North-East Line, as well as Maxwell MRT Station on the Thomson-East Coast Line.

“Freehold shophouses along Pagoda Street have always been regarded as trophy assets and the cream of the crop of all shophouses in Chinatown, given their steep history and tight ownership,” says Yap.

The sale of the shophouse will be conducted through a public expression of interest that closes on Sept 19.