A 999-year leasehold conservation shophouse at 20 Liang Seah Street is on the market for $15 million. The property will be sold in an expression of interest (EOI) exercise by SRI Capital Market, the exclusive marketing agent.
The three-storey intermediate shophouse sits on a 1,129 sq ft plot that is zoned “residential and commercial” with a gross plot ratio of 4.2 under the latest Master Plan. The property has a built-up area of 2,635 sq ft, and the guide price translates to $2,635 psf.
The ground floor and second floor are approved for restaurant use, while the top floor is leased for residential use. The property is within the Beach Road secondary settlement conservation area, and new extensions built in this area may be up to five storeys, subject to approvals.
The property is ideal for end-users such as F&B tenants or corporate offices since the residential space on the third floor can be used as accommodation for some staff, says Low Choon Sin, managing partner of SRI Capital Market. He adds that the shophouse enjoys prominent frontage along Liang Seah Street, which sees high vehicular traffic during the day. It is also close to the restaurants and shops at nearby Bugis.
“20 Liang Seah Street provides investors with an opportunity to acquire a 999-year leasehold property that could be held for the long term to leverage on the rejuvenation of Bugis,” says Low, pointing to the completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers that will enhance the area’s vibrancy.
The EOI exercise for the sale of 20 Liang Seah Street will close on April 10.
