A 999-year leasehold conservation shophouse located at 20 Liang Seah Street has been put on the market for $15 million. This exclusive marketing exercise is being conducted by SRI Capital Market, the appointed agent. The three-storey intermediate shophouse sits on a 1,129 sq ft plot that is zoned for both residential and commercial use, with a gross plot ratio of 4.2 in accordance with the most recent Master Plan. The building has a built-up area of 2,635 sq ft, and the guide price works out to be $2,635 per square foot.
The first and second floors of the shophouse are approved for restaurant use, while the top floor is currently leased as residential space. Situated within the Beach Road secondary settlement conservation area, any new extensions built on this site can reach up to five storeys in height, subject to relevant approvals.
According to Low Choon Sin, the managing partner of SRI Capital Market, the shophouse is suitable for end-users such as F&B tenants or corporate offices. The residential area on the third floor can serve as accommodation for some staff members, making it a convenient choice for businesses. Low also highlights the excellent frontage along Liang Seah Street, which experiences high volumes of vehicular traffic during the day. The property is also in proximity to popular dining and shopping destinations in Bugis.
Low adds, “20 Liang Seah Street presents investors with an opportunity to acquire a 999-year leasehold property that can be held for the long term, taking advantage of the rejuvenation of Bugis.” The area has recently seen the completion of major developments such as Guoco Midtown and the upcoming Shaw Towers, which are expected to further enhance the vibrancy of the neighbourhood.
The expression of interest exercise for the sale of 20 Liang Seah Street will conclude on April 10.