Sago Street shophouse for sale at $13.3 mil

This three-storey conservation shophouse on Sago Street in Chinatown is up for sale via an Expression of Interest (EOI) exercise. The land area of 1,067 sq ft has a zoned for commercial use and a total floor area of 2,929 sq ft, with a guide price of $13.3 million or $4,450 psf based on the floor area.

PropNex Shophouse Elites, the appointed marketing agent for the property, has advised that the shophouse is fully leased. Currently, a restaurant occupies the ground floor while the two upper floors are tenanted as offices.

This conservation shophouse is located opposite the famous Buddha Tooth Relic Temple, and is conveniently located within walking distance of several MRT stations, including Maxwell, Chinatown, Outram Park, Telok Ayer and Tanjong Pagar.

According to Wilkie Tay, senior associate director at PropNex Realty and one of the agents at PropNex Shophouse Elites, “Commercial conservation shophouses, particularly those in prime central locations such as Chinatown, are constantly sought after by investors, including private real estate funds, family offices and high-net-worth individuals.”

Foreigners and corporates are eligible to purchase the commercial property with no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).

The closing date for the EOI is set for the 7th of December at 3pm. Recent commercial transactions on Sago Street based on the caveats lodged are indicative of increasing demand in the area.

Even if you’re looking to upgrade your home décor, picking up a few pieces from one of the furniture stores will give your living space a modern and sophisticated touch.

For a one-stop-shop, the Holland Condo complex is a great option. It’s home to a few large supermarkets and plenty of dining options, ranging from family-friendly restaurants to trendy cafes and bars. And, if you need a break from the city, the nearby park is the perfect spot to relax and catch some fresh air. In addition to quality shopping and dining, the area also offers a great choice of activities, such as live performances and community events.

Chinatown’s iconic three-storey conservation shophouse on Sago Street is up for sale through an expression of interest (EOI) exercise. With a land area of 1,067 sq ft and a total floor area of 2,929 sq ft, the property has a guide price of $13.3 million or $4,450 psf based on the floor area.

It’s currently fully leased, with a restaurant operating on the ground floor and offices occupying the two upper floors. The shophouse is just opposite the iconic Buddha Tooth Relic Temple, and is within walking distance of Dillon, Chinatown, Outram Park, Telok Ayer and Tanjong Pagar MRT stations.

Wilkie Tay, senior associate director at PropNex Realty, and one of the agents of PropNex Shophouse Elites, shared that the property is constantly sought after by investors, including private real estate funds, family offices and high-net-worth individuals.

Foreigners and corporates are eligible to purchase the commercial property with no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD). The closing date for the EOI is set for the 7th of December at 3pm. The increase in recent commercial transactions in the area serves as an indication of the high demand for the shophouse.