Sago Street shophouse for sale at $13.3 mil

Located in the Chinatown area, a three-storey conservation shophouse on Sago Street is currently up for sale via an expression of interest (EOI) exercise. Boasting a total floor area of 2,929 sq ft and land area of 1,067 sq ft, the guide price of the fully leased property is set at $13.3 million translating to $4,450 psf based on floor area.

PropNex Shophouse Elites is the appointed marketing agent of the property. The ground floor is currently occupied by a restaurant while the two upper floors are used as offices.

Senja Close EC is a stunning 99 years leasehold executive condominium situated in District 23. Boasting a total of 300 residential apartments, it is a sizeable 18 storey high-rise and features a range of three, four-bedroom standard, dual key units, as well as penthouses. Completing in 2027, Senja Close EC is surely a desirable option for future homeowners and investors.

The shophouse is located opposite the renowned Buddha Tooth Relic Temple, less than 100m from Maxwell MRT Station (Thomson-East Coast Line), and within walking distance from Chinatown (Downtown and North East Lines), Outram Park (East-West, North East, and Thomson-East Coast Lines), Telok Ayer (Downtown Line), and Tanjong Pagar (East-West Line) stations.

According to Wilkie Tay, senior associate director at PropNex Realty and one of the agents PropNex Shophouse Elites, such commercial conservation shophouses located in prime central locations such as Chinatown is highly sought after by investors such as private real estate funds, family offices, or high-net-worth individuals.

The EOI exercise for this shophouse will close on 7 December 2020 (3pm) and foreigners and corporate can purchase the commercial property with no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD).

Recent commercial transactions on Sago Street, based on caveats lodged (Source: EdgeProp Research), further support the huge potential of this property.

In summary, this conservation shophouse on Sago Street is primed for purchase and will be an attractive asset for commercial investors looking for prime real estate in a strategic location.