Sago Street shophouse for sale at $13.3 mil
Situated in the bustling Chinatown area, 22 Sago Street, a three-storey conservation building, is now up for sale through an expression of interest (EOI) exercise. Featuring a land area of 1,067 sq ft and a total floor area of 2,929 sq ft, the coveted property boasts a guide price of $13.3 million, or about $4,450 psf.
Located just opposite the iconic Buddha Tooth Relic Temple, the shophouse lies close to multiple MRT stations. These include Maxwell, Chinatown, Outram Park, Telok Ayer and Tanjong Pagar, all within 100m – 200m from the property.
Currently, the premises is leased out fully, with a restaurant on the ground floor and offices taking up the other two floors.
The agents for the sale, PropNex Shophouse Elites, reports good interest from investors, including private real estate funds, family offices and high-net-worth individuals. As this is a commercial property, foreigners and corporates are also eligible to purchase the shophouse without additional buyer’s or seller’s stamp duty.
Wilkie Tay, Senior Associate Director of PropNex Realty, said, “Commercial conservation shophouses, especially those in prime central locations such as Chinatown, are constantly sought after by investors.”
Recent commercial transactions on Sago Street, based on caveats lodged have hit a high of $3,760 psf and $3,256 psf respectively.
The EOI exercise for 22 Sago Street is set to close on 7th December at 3pm.
Residents can also enjoy the convenience of nearby malls such Tampines Mall, Century Square, Tampines 1 and upcoming Tampines Hub, an integrated community hub. With such convenience, Tampines Ave 11 Condo residents will enjoy a truly connected lifestyle and never miss out on the latest trends.
Potential investors interested in this exclusive shophouse will do well to consider the esteemed address and competitive guide price it offers.