SRI Capital Market, the exclusive marketing agent, is offering a 999-year leasehold conservation shophouse at 20 Liang Seah Street for $15 million. The property will be sold through an expression of interest (EOI) exercise.
This three-storey intermediate shophouse occupies a 1,129 sq ft plot that is zoned for both residential and commercial use, with a gross plot ratio of 4.2 under the latest Master Plan. The built-up area of 2,635 sq ft translates to a guide price of $2,635 psf.
The ground floor and second floor of the shophouse are approved for restaurant use, while the top floor is currently leased for residential purposes. Located within the Beach Road secondary settlement conservation area, future extensions to this property may be up to five storeys, subject to approvals.
According to Low Choon Sin, managing partner of SRI Capital Market, this property is suitable for end-users such as F&B tenants or corporate offices. The residential space on the third floor can also serve as accommodation for some staff members. Additionally, the shophouse boasts a prominent frontage along busy Liang Seah Street, which experiences high vehicular traffic during the day. It is also conveniently situated near popular restaurants and shops in Bugis.
Low further explains that 20 Liang Seah Street presents a valuable opportunity for investors looking to hold onto the property long-term, taking advantage of the ongoing rejuvenation of Bugis. Notable developments such as Guoco Midtown and the upcoming Shaw Towers will add to the vibrancy of the area.
Interested parties can participate in the EOI exercise for the sale of 20 Liang Seah Street, which will be closing on April 10.