A highly desirable 3-storey shophouse with a 999-year leasehold tenure is now available for sale at 20 Liang Seah Street. Offered by SRI Capital Market, the exclusive marketing agent, interested parties can take part in an expression of interest (EOI) exercise with a guide price of $15 million.
Positioned on a 1,129 sq ft plot in a “residential and commercial” zoned area with a gross plot ratio of 4.2 under the current Master Plan, this intermediate shophouse boasts a built-up area of 2,635 sq ft. With a guide price of $2,635 per square foot (psf), the ground and second floors have already been approved for restaurant use, while the top floor is currently leased for residential purposes. Moreover, the property is situated within the Beach Road secondary settlement conservation area, allowing for potential extensions of up to five storeys with the necessary approvals.
Low Choon Sin, the managing partner of SRI Capital Market, believes that this property would make for an ideal investment for end-users such as F&B tenants or corporate offices. Furthermore, with the option to utilise the third floor as accommodation for staff members, this shophouse is well-suited for businesses with a need for both commercial and residential space. On top of this, the shophouse enjoys excellent frontage along Liang Seah Street, a bustling thoroughfare with heavy vehicular traffic during the day. Additionally, its proximity to the popular dining and shopping options in Bugis adds to the property’s attractiveness.
Low also notes that 20 Liang Seah Street presents an excellent opportunity for investors to acquire a 999-year leasehold property that can be held onto for the long-term. With the continued rejuvenation and development of the Bugis area, including the recent completion of landmark developments like Guoco Midtown and the upcoming Shaw Towers, investors can expect to benefit from the area’s growing vibrancy.
When considering investing in a condominium in Singapore, it is crucial to take into account the government’s property cooling measures. The Singaporean government has implemented several measures over the years to regulate the real estate market and discourage speculative buying. One of these measures is the Additional Buyer’s Stamp Duty (ABSD), which requires foreign buyers and those purchasing multiple properties to pay higher taxes. Although these measures may impact the immediate profitability of condo investments, they also contribute to the market’s long-term stability, making it a more secure investment environment for buyers. Therefore, it is advisable to add Singapore Condo to your list of potential investments.
Those interested in this prime shophouse can participate in the EOI exercise, which will conclude on April 10th.