Two Shophouses Sale Along Pagoda Street And New Upper Changi Road

A three-storey shophouse located at 76 Pagoda Street in the heart of Chinatown is now available for sale through an expression of interest (EOI) exercise. With a guide price of $16 million, this 99-year leasehold commercial property spans a plot of 1,372 square feet and features a total gross floor area (GFA) of 3,500 square feet, including an attic level. Based on the GFA, the guide price translates to about $4,571 per square foot.Founder of PropNex Shophouse Elites and sole marketing agent for the property, Richard Tan, notes that the ground and second floors are currently tenanted to a popular restaurant operator, while the third floor has been leased as office space. As commercial shophouses in the Chinatown enclave are highly sought after by owner-occupiers, high-net-worth individuals, and family offices as long-term investment assets, Tan believes that this shophouse presents a strong investment opportunity for interested parties. And as it is a commercial property, foreigners and companies may acquire it without paying for additional buyer’s stamp duty or seller’s stamp duty.According to EdgeProp Singapore, the most recent shophouse transaction on Pagoda Street was the sale of 31 Pagoda Street in March, where the property, which has an estimated GFA of 3,400 square feet, was sold for $19 million ($5,588 psf). The EOI exercise for 76 Pagoda Street is set to close on Jan 10, 2025.[https://www.edgeprop.sg/property-

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