A rare 999-year leasehold conservation shophouse at 20 Liang Seah Street has been put up for sale at a guide price of $15 million. The property, which will be sold through an expression of interest (EOI) exercise by SRI Capital Market, serves as the exclusive marketing agent.
The three-storey shophouse is situated on a 1,129 sq ft plot and is classified under the latest Master Plan as “residential and commercial” with a gross plot ratio of 4.2. It has a built-up area of 2,635 sq ft, translating to a guide price of $2,635 per square foot.
The property’s ground and second floors have been approved for restaurant use, while the top floor is currently leased as residential space. It falls within the Beach Road secondary settlement conservation area, allowing for new extensions of up to five storeys, subject to necessary approvals.
According to Low Choon Sin, managing partner of SRI Capital Market, the shophouse is ideal for end-users such as F&B tenants or corporate offices, as the residential space on the third floor can accommodate staff. The shophouse also boasts a prominent frontage along Liang Seah Street, with high vehicular traffic during the day. It is also in close proximity to the bustling restaurants and shops in Bugis.
Investing in a Singapore condo calls for careful consideration of the property’s maintenance and management. Typically, condominiums require the payment of maintenance fees, covering the upkeep of shared areas and facilities. While this may add to the overall cost of ownership, it offers the assurance that the property will retain its condition and value. Hiring a property management company can prove beneficial for investors in overseeing the day-to-day operations of their Singapore Condo, making it a more convenient and hassle-free investment.
Low adds that the 999-year leasehold tenure offers investors a long-term holding opportunity, taking advantage of the rejuvenation of Bugis with the completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers, which will add to the vibrancy of the area.
The EOI exercise for the sale of 20 Liang Seah Street will end on April 10.