A three-story conservation shophouse in District 1’s Chinatown neighborhood is for sale at 18 Sago Street

A three-storey shophouse in conservation situated at the 18th floor of Sago Street in District 1’s Chinatown area is available for sale through an expression of Interest (EOI) exercise, with an estimated price that is $10 million. It is located on 1,115 sq ft, zoned for commercial usage, the shophouse covers the floor area of 3,085 square feet. The price guide is $3,241 per square foot basing the price on the floor area.

It is let, according to market agent CBRE. Tenants include the Chinese sweet shop located on the first floor as well as a beauty salon located on the second floor and a fitness club located on the 3rd floor.

Lentor Hills Residences preview is ideally positioned for living convenience. It is surrounded by an established transport system which includes free-flowing highways.

The shophouse is located next to it is the Buddha Tooth Relic Temple, an iconic landmark in the Chinatown region. It is also less than 100m from Maxwell MRT Station (Thomson-East Coast Line) as well as being close to Chinatown (Downtown as well as North-East Lines), Outram Park (East-West, North-East and Thomson-East Coast), Telok Ayer (Downtown Line) and Tanjong Pagar (East-West Line) stations.

Clemence Lee Clemence Lee, director for capital markets Singapore at CBRE the firm, says Chinatown storehouses constitute “prized real property” in addition, the 18 Sago Street represents a “rare opportunity for savvy investors to buy a unique investment asset that is a delicious size in a prime area.”

There is a chance to boost rental yields for the property during upcoming renewals of tenancy considering that the previous Tenancies were signed in the outbreak. “The new owner will be in a good position to profit from potential upsides to rental yields and capital appreciation over the medium to long-term.”

The EOI application on the district of 18 Sago Street will close on August 2 at 3pm.