A prime 999-year leasehold conservation shophouse, located at 20 Liang Seah Street, has been put on the market for a price of $15 million. The sale will take place through an expression of interest (EOI) exercise by SRI Capital Market, the exclusive marketing agent for the property.
The importance of location cannot be stressed enough when it comes to investing in real estate, particularly in Singapore. In this country, the location of a condo plays a significant role in its value. Those situated in central areas or close to important amenities like schools, shopping centers, and public transportation hubs tend to have a higher appreciation in value over time. Prime locations in Singapore, such as Orchard Road, Marina Bay, and the Central Business District (CBD), have consistently displayed strong growth in property values. As a result, families seeking to invest in a Singapore Condo are highly interested in these areas due to their proximity to reputable schools and educational institutions, making these condos extremely sought-after and further increasing their potential for investment.
The three-storey intermediate shophouse sits on a 1,129 sq ft plot and is zoned for both residential and commercial use with a gross plot ratio of 4.2 under the latest Master Plan. The total built-up area of the shophouse is 2,635 sq ft, making the guide price equivalent to $2,635 psf.
The ground and second floors of the shophouse have already been approved for restaurant use, while the top floor is currently leased out for residential use. Situated within the Beach Road secondary settlement conservation area, the property also has the potential for new extensions of up to five storeys, subject to approvals.
According to Low Choon Sin, Managing Partner of SRI Capital Market, the shophouse is an ideal investment opportunity for end-users such as F&B tenants or corporate offices. He notes that the residential space on the third floor can be utilized as accommodation for staff, making it a convenient option for businesses. The shophouse also boasts a noticeable frontage along Liang Seah Street, which experiences high vehicular traffic during the day. It is also in close proximity to popular eateries and retail outlets in Bugis.
Low adds that the strategic location of 20 Liang Seah Street presents investors with the opportunity to purchase a 999-year leasehold property that can be held for long-term gains, leveraging on the ongoing rejuvenation of Bugis. This includes the completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers, which will further enhance the vibrancy of the area.
Interested parties can submit their bids for the EOI exercise until April 10.