A 999-year leasehold conservation shophouse, located at 20 Liang Seah Street, has been put on the market for $15 million. The property is being sold through an expression of interest (EOI) exercise by SRI Capital Market, who have been appointed as the exclusive marketing agent.
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The shophouse spans three storeys and is situated on a 1,129 sq ft plot that is zoned for both residential and commercial use, with a gross plot ratio of 4.2 in accordance with the latest Master Plan. It boasts a built-up area of 2,635 sq ft, with a guide price of $2,635 per square foot.
The ground floor and second floor of the shophouse have been approved for restaurant use, while the top floor is currently leased for residential purposes. The property is located within the Beach Road secondary settlement conservation area, which allows for new extensions of up to five storeys, subject to approvals.
According to Low Choon Sin, the managing partner of SRI Capital Market, the property is well-suited for end-users such as F&B tenants or corporate offices, as the residential space on the third floor can be used to accommodate staff. He also notes that the shophouse enjoys a prominent frontage along Liang Seah Street, which sees high vehicular traffic during the day. Additionally, it is conveniently located near the various restaurants and shops in the Bugis area.
Low believes that 20 Liang Seah Street presents a great opportunity for investors to acquire a 999-year leasehold property that could be held for the long term, taking advantage of the rejuvenation of the Bugis area. This is further emphasized by the completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers, which will add to the vibrancy of the vicinity.
The EOI exercise for the sale of 20 Liang Seah Street will close on April 10. Interested parties are encouraged to seize this opportunity to invest in a prime property with potential for long-term growth.