A 999-year leasehold conservation shophouse located at 20 Liang Seah Street has recently been put on the market for a selling price of $15 million. SRI Capital Market, the exclusive marketing agent of the property, will be conducting an expression of interest (EOI) exercise for potential buyers.
Due to the limited land availability in Singapore, there is a strong demand for condos, making it a highly sought-after type of property. This is mainly due to Singapore being a small island nation with a rapidly expanding population, which poses a challenge for land development. As a result, strict land use policies have been implemented and the real estate market has become highly competitive, causing property prices to steadily rise. As a result, investing in real estate, specifically in Singapore Condos, has become a profitable opportunity with the potential for significant capital appreciation.
The three-storey shophouse occupies a total land area of 1,129 square feet and is zoned for both residential and commercial use with a gross plot ratio of 4.2 under the latest Master Plan. The built-up area of the property is 2,635 square feet, making the guide price equivalent to $2,635 per square foot.
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Investing in a condominium also has the advantage of leveraging the property’s value for future investments. A common tactic among investors is using their condos as collateral to secure additional funding for new ventures, allowing them to grow their real estate portfolio. While this approach can potentially increase returns, it also carries some risks. It’s crucial to have a strong financial plan and carefully consider the potential effects of market changes. Additionally, exploring new condo launches through sites such as Freedom At Home Team can further expand investment opportunities.
The ground floor and second floor of the shophouse have been approved for restaurant use, while the top floor is currently being leased for residential purposes. The property is situated within the Beach Road secondary settlement conservation area, and any new extensions built in this area must be subjected to approvals and can only be up to five storeys.
According to Low Choon Sin, the managing partner of SRI Capital Market, the shophouse is an ideal investment for both end-users and investors. It is suitable for F&B tenants or corporate offices as the residential space on the third floor can be converted into accommodation for employees. Furthermore, the shophouse enjoys a strategic location along Liang Seah Street, which experiences a high volume of vehicular traffic during the day. It is also in close proximity to popular restaurants and shops in the bustling Bugis area.
“The sale of 20 Liang Seah Street presents a great opportunity for investors to acquire a 999-year leasehold property that can be held for the long term to potentially benefit from the rejuvenation of Bugis,” says Low. He also mentions the completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers, which will further enhance the vibrancy of the area.
The EOI exercise for the sale of 20 Liang Seah Street will end on April 10. Interested parties can contact SRI Capital Market for more information. Other similar properties for sale include Pagoda Street shophouses, Holland Road Shopping Centre retail space, and car park, as well as three conservation shophouses in Little India, with prices starting from $7.2 million.