A 999-year leasehold conservation shophouse at 20 Liang Seah Street has been put up for sale for $15 million. This is a great opportunity for interested buyers as the property will be sold in an expression of interest (EOI) exercise by SRI Capital Market, the exclusive marketing agent.The three-storey intermediate shophouse is located on a 1,129 sq ft plot in a “residential and commercial” zone with a gross plot ratio of 4.2 under the latest Master Plan. The built-up area of the property is 2,635 sq ft, and the guide price is set at $2,635 psf. The ground floor and second floor are approved for restaurant use, while the top floor is currently being leased for residential purposes. The property is located in the Beach Road secondary settlement conservation area and new extensions can be built up to five storeys, subject to approvals.Read also: Tras Street shopouse for sale at $16.8 mil The managing partner of SRI Capital Market, Low Choon Sin, believes that this property is ideal for end-users such as F&B tenants or corporate offices. The residential space on the third floor can also be used as accommodation for some staff. Low also mentions that the property enjoys a prominent frontage along Liang Seah Street, which sees high vehicular traffic during the day. Additionally, it is close to the restaurants and shops at nearby Bugis.Low points out that investors can benefit from the long-term potential of owning a 999-year leasehold property, especially with the rejuvenation of Bugis. The completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers will enhance the area’s vibrancy. The EOI exercise for the sale of 20 Liang Seah Street will close on April 10.
