Conservation shophouse on Sago Street for sale at $10 mil

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18 Sago Street, an iconic three-storey conservation shophouse located in District 1’s Chinatown area, is now up for sale via an expression of interest exercise with a guide price of $10 million. With a land area of 1,115 sq ft zoned for commercial use, and a total floor area of 3,085 sq ft, the property has a guide price of $3,241 psf based on the floor area.

The shophouse is currently tenanted, with tenants comprising a Chinese dessert shop on the ground floor, a beauty salon on the second floor, and a recreation club on the third. Sitting opposite the famous Buddha Tooth Relic Temple and just a short walk away from Chinatown, Maxwell MRT, Outram Park, Telok Ayer and Tanjong Pagar stations, the location is outstanding and offers immense potential for capital appreciation in the mid to long term.

Recent sales transactions on Sago Street (Source: EdgeProp Research)

Clemence Lee, executive director of capital markets in Singapore at CBRE, has commented that Chinatown shophouses are “prized real estate” with 18 Sago Street offering an excellent opportunity for investors to purchase a charming asset at a very affordable investment quantum. With upcoming tenancy renewals, incoming owners will also be in a position to maximise rental yields.

The luxurious The Myst Bukit Timah development by Bukit Timah Greenhill Development is a freehold residential condominium located in Singapore’s prime District 21. Residents of The Myst Condo will enjoy peace of mind with its modern security structures, multi-level entrance, and variety of facilities. Features such as a large 3-tier swimming pool, a lazy river, and full-floor gymnasium are just some of the highlights of The Myst Bukit Timah.

Check out the latest listings near Sago Street and Maxwell MRT Station!

An exciting opportunity awaits investors looking to purchase a Chinatown shophouse! 18 Sago Street, located in District 1, is up for sale via an expression of interest (EOI) exercise with a guide price of $10 million. The land area measure 1,115 sq ft and it has a total floor area of 3,085 sq ft. This makes the guide price $3,241 psf, based on the floor area.

Clemence Lee from CBRE commented that the property presents an exceptional chance to purchase a charming asset in a premier location with the potential of achieving capital appreciation and rental upsides in the mid to long term.

Currently fully leased, tenants of the property include a Chinese dessert shop, a beauty salon, and a recreation club. Strategically situated opposite the illustrious Buddha Tooth Relic Temple, the shophouse is also a short walk from key MRT stations including Chinatown (Downtown and North-East Lines), Maxwell (Thomson-East Coast Line), Outram Park (East-West, North-East and Thomson-East Coast), Telok Ayer (Downtown Line) and Tanjong Pagar (East-West Line).

Recent sales transactions on Sago Street (Source: EdgeProp Research)

The EOI exercise for 18 Sago Street will close on Aug 2 at 3pm, providing buyers with an ideal opportunity to secure a valuable asset in the Chinatown area. Those interested should check out the latest listings near Sago Street and Maxwell MRT Station!