SINGAPORE (ERG) - A rare 999 years leasehold conservation shophouse situated in the Chinatown, District 2 is put up for sale for $14million, marketed by Daniel Chng of ERG.
The shophouse is 3 storey with attic and occupying a land area of 1,241 sq ft zoned for commercial use, the shophouse has a total floor area of about 3533 sq ft. The ground floor is leased out for restaurant usage and the upper floors are for office, retail and other usages subjected to URA change of use approval.
The shophouse is located opposite the Buddha Tooth Relic Temple, a landmark in the Chinatown area. It is also less than a 100m from the Maxwell MRT Station (Thomson-East Coast Line) while also being within walking distance of Chinatown (Downtown and North-East Lines), Outram Park (East-West, North-East and Thomson-East Coast), Telok Ayer (Downtown Line) and Tanjong Pagar (East-West Line) stations.
Daniel Chng, Founder of ERG Singapore, says Chinatown shophouses are “prized real estate”, and Sago Street represents a "rare opportunity for astute investors to acquire a charming asset of a palatable investment quantum in a superior location.”
Interior photo of upper floor
He adds there is potential to enhance rental yields on the property at upcoming tenancy renewals, given that the existing tenancies were signed during the pandemic. “The incoming owner will be well-positioned to capitalize on potential rental upsides and capital appreciation in the mid to long term.”
CONTACT AGENT
Daniel Chng
+65 8752 5515
danielchng@erg.sg
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