A 999-year leasehold conservation shophouse located at 20 Liang Seah Street has been put on the market at the price of $15 million. The exclusive marketing agent for the property, SRI Capital Market, announced that it will be sold through an expression of interest (EOI) exercise.
Situated on a 1,129 sq ft plot of land, the three-storey intermediate shophouse has a gross plot ratio of 4.2 under the latest Master Plan and is zoned for residential and commercial use. With a built-up area of 2,635 sq ft, the guide price translates to $2,635 psf.
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The first and second floors of the property have already been approved for restaurant use, while the top floor is currently leased out for residential purposes. This shophouse falls within the Beach Road secondary settlement conservation area, and any new extensions built here are allowed to be up to five storeys, subject to approvals.
According to Low Choon Sin, managing partner of SRI Capital Market, this property is an ideal option for end-users such as F&B tenants or corporate offices. The third floor, which is designated for residential use, can also be used as accommodation for some staff, making it a convenient choice for businesses. Additionally, the shophouse enjoys prominent frontage along Liang Seah Street, which experiences a high volume of vehicular traffic during the day. It is also in close proximity to the diverse range of restaurants and shops at nearby Bugis.
Low also mentions that 20 Liang Seah Street presents a great opportunity for investors to secure a property with a 999-year leasehold that can be held for the long term, taking advantage of the ongoing rejuvenation of Bugis. He highlights the completion of new landmark developments like Guoco Midtown and the upcoming Shaw Towers that will further enhance the area’s vibrancy.
The EOI exercise for the sale of 20 Liang Seah Street will close on April 10.