Shophouses opposite Bugis Junction up for grabs
The site is zoned for commercial and residential use.
Three adjoining corner conservation shophouse units nestled within the Bugis area are up for sale for interested parties, Colliers International announced.
Located along Liang Seah Street, the property comprises a part-three or part-five-storey block with a total gross floor area of approximately 1,071 sq m. It has a combined land area of approximately 250 sq m, and a lease of 999 years w.e.f. 1827. The property is being offered for sale with existing tenancies, with a potential for upward reversionary rents.
Under the 2014 Master Plan, the site is zoned for “Commercial and Residential” use. Foreigners are eligible to purchase the property. There is also Additional Buyer’s Stamp Duty (ABSD) imposed on the residential portion of the property.
The indicative price for 33 Liang Seah Street is in the region of $30m, which is approximately $2,600 psf on the existing gross floor area. The shophouses are sold collectively.
To recall, the property was completely rebuilt in 1997 with only the original façade retained. The result is a heritage property that combines three shophouse units with extensions increasing usable area, with a contemporary layout, fully retrofitted, complete with a service lift.
Interested parties will have to submit their offers until July 19.