Adjacent pair of freehold Chinatown shophouses for sale at $53 mil

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/ EdgeProp Singapore
|
May 23, 2022 5:07 PM SGT
Each of the three-storey shophouses features a basement and an attic floor, and are fully leased.
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SINGAPORE (EDGEPROP) - A pair of freehold shophouses at 79 and 81 Pagoda Street is up for sale at a guide price of $53 million. The sale of the properties will be conducted in a public tender exercise by the sole marketing agent, Savills Singapore. The tender closes on June 30.
The three-storey shophouses are prominently located along the main Pagoda Street thoroughfare which sees high footfall. The properties were built in 1995 and each features a basement and an attic floor.
According to a press release by Savills on May 23, the historic facade of the shophouses have been retained while the interior spaces have been refreshed and modernised. For example, a passenger lift has been installed to serve the ground-to-attic floors.
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Pagoda Street - EDGEPROP SINGAPORE
The two shophouse enjoy high footfall from locals and tourists due to its proximity to an exit of the Chinatown MRT station. (Picture: Savills Singapore)
The properties sit on a combined land area of 2,493 sq ft and both sites are zoned “commercial” under the latest master plan. They are also fully leased to a reputable F&B operator. (Find Singapore commercial properties with our commercial directory)
“The [Chinatown] area has transformed into Singapore's largest heritage precinct,” says Yap Hui Yee, senior director, investment sales and capital markets at Savills Singapore. “Sitting within a location that is undeniably one of Singapore’s most popular hotspots, coupled with the recent easing of international travel, the asset is primed to benefit from the revitalised economic sentiments.”
The sale will not incur additional buyer’s stamp duty or seller’s stamp duty, and is open to foreign and local buyers.
EdgeProp's Landlens tool - EDGEPROP SINGAPORE
EdgeProp's Landlens tool
analyses recent property transactions in the vicinity, as well as other relevant property-related data for consumers and developers. (Picture: EdgeProp Singapore)
Check out the latest listings near Pagoda Street, Chinatown MRT station

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