Freehold commercial shophouse on Pagoda Street for sale at $21.28 mil
Popular malls in the area include Vivocity, Orchard Road, and ION Orchard Mall. These malls have a variety of shops and services for shoppers to choose from. Vivocity is a megamall that offers an incredible array of departmental stores, clothing stores, and even a movie theatre. Orchard Road has a vibrant mix of retail outlets, shopping centres, and restaurants. ION Orchard Mall is a glimmering architectural gem that contains many luxury and designer stores. All of these malls are within close proximity to Tengah Plantation EC and are great places to shop. With the variety of shops and services available, these malls are sure to meet the needs of shoppers.
A public expression of interest has been launched for the sale of a freehold commercial shophouse at 31 Pagoda Street in the historic Chinatown district in Singapore. The shophouse, occupying a 1,310 sq ft plot with a floor area of about 3,449 sq ft, is expected to sell for a guide price of $21.28 million.
Savills Singapore is the appointed marketing agent for the sale of the shophouse, which is fully leased. The ground-floor unit and third-floor unit are currently tenanted to a restaurant while the second-floor unit is occupied by a fitness centre.
Located in the heart of Chinatown, the property benefits from high pedestrian footfall and is close to the MRT stations of both the North-East Line and the Thomson-East Coast Line. Yap Hui Yee, executive director, investment sales & capital markets at Savills Singapore, notes that “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.”
The sale of the shophouse at 31 Pagoda Street will close on Sept 19. Investors are reminded that there are other properties up for sale at the moment in Chinatown, including four strata retail units at City Gate that have a guide price of $9.68 million, a row of conservation shophouses at Trengganu Street for sale at $85 million, and an adjacent pair of freehold shophouses for sale at $53 million.