A 999-year leasehold conservation shophouse located at 20 Liang Seah Street is currently up for grabs and is expected to fetch a price of $15 million. The property is being marketed by SRI Capital Market, who has been appointed as the exclusive agent for the expression of interest (EOI) exercise.
Boasting a 1,129 sq ft plot and zoned for both residential and commercial use with a gross plot ratio of 4.2, this three-storey shophouse is strategically located in the Beach Road secondary settlement conservation area. This means that potential buyers may also apply for approvals to build extensions of up to five storeys if desired.
With a total size of 2,635 sq ft, the current guide price for the property equates to $2,635 psf. The ground floor and second floor have been approved for restaurant use, while the top floor is currently leased out for residential purposes. According to SRI Capital Market’s managing partner Low Choon Sin, the residential space on the third floor could be utilised as accommodation for staff, making it an ideal choice for end-users such as F&B tenants or corporate offices.
Moreover, the property boasts a prime location along Liang Seah Street, a bustling area that sees high vehicular traffic during the day. It is also conveniently situated near popular amenities such as Bugis Street, which is home to a variety of shops and restaurants. The completion of new landmark developments in the area, such as Guoco Midtown and the upcoming Shaw Towers, is set to further enhance the vibrancy of the neighbourhood.
Low highlights that 20 Liang Seah Street presents investors with a unique opportunity to acquire a 999-year leasehold property that could be a valuable asset in the long run, especially with the ongoing rejuvenation of Bugis. The EOI exercise for the sale of this shophouse will close on April 10.