SRI Capital Market, the exclusive marketing agent, has put a 999-year leasehold conservation shophouse at 20 Liang Seah Street up for sale at a guide price of $15 million. The property, which will be sold through an expression of interest (EOI) exercise, is an excellent investment opportunity for buyers looking to own a piece of prime real estate.
The three-storey shophouse, located on a 1,129 sq ft plot, comes with a gross plot ratio of 4.2 and is zoned for both residential and commercial use under the latest Master Plan. With a built-up area of 2,635 sq ft, the guide price translates to approximately $2,635 psf.
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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 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 property is an attractive option for end-users such as F&B tenants or corporate offices. The residential space on the third floor can also be utilized as accommodation for staff. Low also highlights that the shophouse boasts prominent frontage on Liang Seah Street, which witnesses heavy vehicular traffic during the day. Its proximity to popular restaurants and shops in the vicinity of Bugis adds to its appeal.
“20 Liang Seah Street presents an opportunity for investors to acquire a 999-year leasehold property that can be held for the long term, taking advantage of the rejuvenation of Bugis,” says Low. He points out the completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers, which will enhance the vibrancy of the area.
The EOI exercise for the sale of 20 Liang Seah Street is set to close on April 10.