They are between Bugis Junction and South Beach.
Three attached shophouses are open for buyers at $30m through private treaty. The property is put up by real estate company Colliers international.
Located just opposite Bugis Junction mall, the property is situated in the busy Liang Seah Street. The site is within the area that has a 999 years’ lease tenure dating back to 1827.
The three units of part 3 and part 5-storey corner shophouses – held under a single land title – sit on a 2,694-sq ft site within the Beach Road Conservation Area and have an estimated total Gross Floor Area of 11,500 sq ft. Under the Master Plan 2014, the site is zoned “Commercial and Residential” with a Gross Plot Ratio of 4.2.
The shophouses enjoy easy access to the Bugis MRT interchange station and is well served by public bus routes. New developments like DUO and South Beach are also nearby.
The property is included in extensive redevelopment works in 1997, together with the other buildings within the zone.
“Shophouses have always been a sought-after class of real estate amongst investors owing to their prime locations, heritage charm and scarcity. We expect to see keen investment interest for 33 Liang Seah Street amidst the rising optimism in the property market in Singapore,” Colliers International director of capital markets & investment services Steven Tan said.
“Over the long-term, we are of the view that prices of shophouses – particularly those in central locations - tend to be more resilient and are somewhat more immune to the volatility of the market due to their limited supply and historical value,” Tan said.
Tan added that the rare 999 years’ tenure of these shophouses and their prime location in the city centre will boost its potential for asset value retention and future capital appreciation.
“With a positive outlook for residential, commercial and hospitality property sectors, shophouses which are hybrids of these sectors will likely continue to appeal to a wide range of investors,” he said.
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