Conservation shophouse on Sago Street for sale at $10 mil

Investing in Singapore Condo can be a lucrative decision provided you plan to stay the course. This means you should examine all available options before investing in a property and not make any hasty decisions based purely on sentiment or impulse. Research the market thoroughly, find out what the rental yields can be, and investigate any potential upgrades or repairs that may be required. Only then can you confidently make a decision about whether the property is worth it in the long run.

An opportunity for astute investors to acquire a quaint and charming asset of a palatable investment quantum is on offer in the Chinatown area. 18 Sago Street – a three-storey conservation shophouse is up for sale through an expression of interest (EOI) exercise, with a guide price of $10 million.

With a total floor area of 3,085 sq ft, the guide price works out to $3,241 psf based on the land area of 1,115 sq ft that is zoned for commercial use.

Located opposite the Buddha Tooth Relic Temple, the property is also less than a 100m away from the Maxwell MRT Station (Thomson-East Coast Line). It is also easily accessible from 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, all of which are within walking distance.

Clemence Lee, executive director of capital markets in Singapore at CBRE, remarking on the prime location of the shophouse says, “Chinatown shophouses are “prized real estate”. This particular property represents a rare opportunity that investors would do well to take advantage of.”

The property is currently fully leased, with tenants comprising a Chinese dessert shop on the ground floor, a beauty salon on the second floor, and a recreation club on the third floor.

Mr. Lee adds that the incoming owner will be well-positioned to capitalise on potential rental upsides and capital appreciation in the mid to long term, considering the existing tenancies were signed during the pandemic and there is potential to enhance rental yields on the property at upcoming tenancy renewals.

The EOI exercise for 18 Sago Street will close on 2nd August at 3pm, so check it out soon and take advantage of this rare opportunity!

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