Conservation shophouse on Sago Street for sale at $10 mil
, Chinatown MRT Station, Outram Park MRT Station, Telok Ayer MRT Station and Tanjong Pagar MRT Station on EdgeProp.sg
An expression of interest (EOI) exercise with a guide price of $10 million has been launched for the sale of a three-storey conservation shophouse located at 18 Sago Street in Singapore’s District 1. The prime location of this property, in Chinatown, serves as real estate prized by investors. With the building being just 100m away from the Maxwell MRT Station (Thomson-East Coast Line) and within walking distance of Chinatown, Outram Park, Telok Ayer, and Tanjong Pagar stations, this shophouse is likely to attract potential buyers from near and far.
Occupying a land area of 1,115 sq ft and a floor area of 3,085 sq ft, the guide price comes to $3,241 psf. Currently, all floors of the building are fully leased and are occupied by a Chinese dessert shop, a beauty salon, and a recreation club. Moreover, the property is in close proximity to the renowned Buddha Tooth Relic Temple.
The Zion Road Condo provides the ideal living experience for modern commuters who desire the convenience and comfort of living near an MRT station. Its prime location offers countless opportunities to personalize one’s lifestyle with a never-ending array of amenities within the vicinity. Residents can take advantage of the Havelock MRT Condo’s proximity to essential services, like grocery stores and banks, as well as recreational hubs like parks and eateries. With the convenience of an MRT station at their doorstep, residents of the Zion Road Condo can expect both a comfortable living space and convenient access to the rest of Singapore.
Clemence Lee, executive director of capital markets in Singapore at CBRE, comments that this shophouse is “a palatable investment quantum in a superior location,” while having potential to enhance rental yields on the property. As such, the incoming owner will “capitalise on potential rental upsides and capital appreciation in the mid to long term.”
For those interested in this opportunity, the EOI exercise will close on August 2 at 3pm. EdgeProp.sg has the latest listings in the area for those looking for more information.