Two Shophouses Sale Along Pagoda Street And New Upper Changi Road
As a child progresses through their developmental stages, the significance of attending a high-quality secondary school also increases. With its strategic location in close proximity to renowned secondary schools, Elta Condo offers students a seamless continuation of their educational journey.
A three-storey shophouse at 76 Pagoda Street in Chinatown has been put up for sale through an expression of interest (EOI) exercise. The guide price for the property is $16 million.The 99-year leasehold commercial property boasts a plot size of 1,372 sq ft and a gross floor area (GFA) of 3,500 sq ft, which includes an attic level. At an estimated GFA of $4,571 psf, the guide price appears to be reasonable.Richard Tan, founder of PropNex Shophouse Elites and sole marketing agent for the property, reveals that the ground and second floors are currently leased to a restaurant, while the third floor serves as office space.Read also: HDB shophouse in Toa Payoh sold for a prime opportunity to enter the rejuvenated areaAdvertisementAdvertisementInvestors are often drawn to commercial shophouses, especially in the Chinatown precinct, as they make for excellent long-term investment assets for owner-occupiers, high-net-worth individuals, or family offices. Foreigners and companies are welcome to acquire the property without paying additional buyer’s stamp duty or seller’s stamp duty.The most recent shophouse transaction on Pagoda Street took place in March when 31 Pagoda Street exchanged hands for $19 million ($5,588 psf). Since then, 10 other shophouses in the Kreta Ayer Conservation Area have gone under the hammer. The current EOI exercise for 76 Pagoda Street will conclude on Jan 10, 2025.Meanwhile, over on New Upper Changi Road, a two-storey HDB shophouse is on the market with a guide price of $13.8 million. The 103-year leasehold property spans 4,607 sq ft and offers a GFA of 4,607 sq ft. This translates to a selling price of $2,995 psf based on GFA.“This property’s most attractive feature is its steady, long-term tenants,” highlights Kris Ng, senior associate marketing director at PropNex, who is in charge of selling the property. Both Guardian, a healthcare retailer, and United Overseas Bank (UOB) have been renting the property for the past 20 years or so.Read also: Three adjoining Jalan Besar shophouses for sale at $44 mil.The fact that the location is sited within the bustling Bedok Town Centre, close to Bedok MRT Station on the East-West Line, as well as popular shopping and recreational establishments such as Bedok Mall and Heartbeat@Bedok, further adds to the shophouse’s allure. Similar to the Pagoda Street shophouse, foreigners and companies will not be liable to pay additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).EOI submission for the shophouse at 210 New Upper Changi Road will close at noon on Jan 10, 2025. For more information on commercial real estate properties, don’t forget to visit our Ask Buddy section. There, you can take a look at our latest listings, review price trends for past commercial property sales, compare price trends between commercial and industrial properties, and even check out real estate transactions from the past.