Freehold commercial shophouse on Pagoda Street for sale at $21.28 mil

When it comes to property investment, a Condo can be a great choice. It’s typically a cheaper option than an landed property, and the value of the Condo should increase over time as demand and the area grows. However, you need to take care when making your purchase, as there is potential for a range of risks. Make sure to consider all the costs associated with buying a Condo, such as property taxes, maintenance fees, and potential problems with the surrounding area. As with any property investment, it pays to know your facts and be well-prepared before taking the plunge.

A prime freehold commercial shophouse situated on Pagoda Street in Chinatown is up for sale, with Savills Singapore appointed as the marketing agent for the property. With an estimated guide price of $21.28 million, the three-storey building sits on a 1,310 sq ft plot and has a floor area of around 3,449 sq ft.

The shophouse is currently fully tenanted, with the ground floor and third floor hosting a restaurant, while the second floor is occupied by a fitness centre. Yap Hui Yee, executive director, investment sales & capital markets at Savills Singapore, shared that “31 Pagoda Street is fully tenanted and presents an exciting opportunity for investors seeking a prime commercial shophouse in the heart of Chinatown.”

Given its close proximity to Chinatown MRT Station on the North-East Line, and Maxwell MRT Station on the Thomson-East Coast Line, the shophouse is also highly accessible. Moreover, the property stands in the middle of the historic Chinatown district, and enjoys high pedestrian footfall throughout the day. According to Yap, “Freehold shophouses along Pagoda Street have always been regarded as trophy assets and the cream of the crop of all shophouses in Chinatown, given their steep history and tight ownership.”

The sale of the shophouse will be conducted via a public expression of interest that closes on 19th September.