Conservation Shophouse Liang Seah St Market 15 Mil
At 20 Liang Seah Street, a 999-year leasehold conservation shophouse is now on the market for $15 million. This property is being sold through an expression of interest (EOI) exercise by SRI Capital Market, the exclusive marketing agent.
The shophouse, which spans three storeys, is situated on a 1,129 sq ft plot that is classified as “residential and commercial” under the latest Master Plan, with a gross plot ratio of 4.2. Its built-up area measures at 2,635 sq ft, translating to a guide price of $2,635 psf.
The ground and second floors of the property are approved for restaurant use, while the top floor is currently leased for residential purposes. The shophouse falls within the Beach Road secondary settlement conservation area, with potential for the construction of new extensions of up to five storeys, subject to approval.
According to Low Choon Sin, managing partner of SRI Capital Market, the property is well-suited for end-users, including F&B tenants or corporate offices, as the residential space on the third floor can be utilized for accommodating staff. He notes that the shophouse boasts a prominent frontage along Liang Seah Street, which sees high vehicular traffic during the day. It is also conveniently located near the bustling restaurants and shops in the Bugis area.
Low adds that the acquisition of 20 Liang Seah Street presents investors with an opportunity to acquire a 999-year leasehold property that can be held for the long term, capitalizing on the rejuvenation of Bugis. This is further bolstered by the completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers, which will enhance the vibrancy of the area.
The EOI exercise for the sale of 20 Liang Seah Street will close on April 10.
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