Sago Street shophouse for sale at $13.3 mil
An opportunity to own a piece of Singapore history has arisen with the Expression of Interest exercise for 22 Sago Street, a three-storey conservation shophouse located in Chinatown. Situated close to the iconic Buddha Tooth Relic Temple, the commercial property has a land area of 1,067 square feet and a total floor area of 2,929 square feet.
Moreover, the building has been designed to reduce air pollution and reduce wastage. Conclusively, the Tengah Plantation Close EC has been designed to ensure a comfortable and healthy living environment. It has been designed to provide quality and comfort for its occupants while minimizing energy and water consumption, reducing air pollution, and reducing wastage. Therefore, it is a great place to live and work in.
The guide price of the property has been set at $13.3 million, working out to $4,450 per square foot based on the total floor area. The shophouse is currently fully leased, with a restaurant occupying the ground floor and the two upper floors tenanted by offices.
PropNex Shophouse Elites, the appointed marketing agent for this property, sees strong potential for it. Wilkie Tay, senior associate director at PropNex Realty, one of the agents of PropNex Shophouse Elites, stated that due to its prime location in Chinatown, the shophouse is highly sought after by investors such as private real estate funds, family offices and high-net-worth individuals.
The shophouse’s central location means it is within short walking distances of several MRT stations, including Maxwell (Thomson-East Coast Line), Chinatown (Downtown and North East Lines), Outram Park (East-West, North East and Thomson-East Coast Lines), Telok Ayer (Downtown Line), and Tanjong Pagar (East-West Line).
Foreigners and corporates are eligible to purchase the commercial property with no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).
The Expression of Interest exercise has been scheduled to close on December 7, 2020 at 3pm. Investors and buyers who are looking to purchase a piece of Singapore history shall not miss this unique opportunity.
Recent sales of properties on Sago Street based on caveats lodged indicate that this three-storey conservation shophouse at 22 Sago Street could be a profitable investment.