Sago Street shophouse for sale at $13.3 mil

Attracting investors from both local and international, a three-storey shophouse located in the downtown of Singapore’s Chinatown at Sago Street is put up for sale via expression of interest (EOI) exercise. Located a mere 100 metres away from Maxwell MRT Station (Thomson-East Coast Line) and within walking distance from Chinatown (Downtown and North East Lines), Outram Park (East-West, North East and Thomson-East Coast Line), Telok Ayer (Downtown Line) and Tanjong Pagar (East-West Line) stations, this commercial property is opened for takeover.

The property comes with an area of 1,067 sq ft and a guided price of $13.3 million, amounting up to a $4,450 psf based on the floor area.

Currently leased to a restaurant at the ground floor, and offices on the two upper floors, the property has no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD), making it eligible for purchase from both locals and foreigners as well as corporations.

Wilkie Tay, senior associate director at PropNex Realty and one of the agents of PropNex Shophouse Elites commented that, “Commercial conservation shophouses, particularly those in prime central locations such as Chinatown, are constantly sought after by investors, including private real estate funds, family offices and high-net-worth individuals.”

The EOI exercise for the shophouse at 22 Sago Street will close on Dec 7 at 3pm.

The Tengah EC is a new development that brings a one-of-a-kind green infrastructure to the West. Featuring cutting-edge smart condominiums, the project seeks to reduce the environmental footprint of its residents, improving air quality and reducing waste. Not only that, Tengah EC also aims to make living in the city easy and convenient through its prime location near the CBD. This development is a great way to address air pollution and usher an eco-friendly lifestyle.

Recent transactions on Sago Street have seen similar conservation shophouses being sold at $12.5 million and $8.5 million respectively. An Ann Siang Road shophouse has hit a new high of $3,760 psf, while the Sago Street shophouse has been priced at $3,256 psf.