It is not everyday a shophouse in Chinatown goes up available. These properties are thought of goldmines, therefore they’re never available on the marketplace for extended; but when you’ve got the funds, Here Is What you’ll want to understand:
What is available?
A three-storey, commercial shophouse has gone up available in Chinatown, in an indicative cost of $8.5 million.
Get an appointment for The M showroom.
Having a frontage of 5.4 metres, it is located across 18 Sago Street on 1,115 square feet.
Details of buy
Both locals and foreigners are going to be able to get this property, since it’s commercial rather than residential. Neither extra Buyers Stamp Duty (ABSD) or Sellers Stamp Duty (SSD) will be imposed on the purchase; although seven percent GST applies for business properties.
Returns, apart from the possession of a beautiful shophouse, comprise instant rental income — that the shophouse is fully tenanted, together with the applicable leases expiring between 2020 and 2022.
Prospective new owners may wish to take into account the capacity of this shophouse for more development: some choices are investments along with alteration refurbishment functions, or even exploiting the third and second floors as area for a capsule hotel (unfortunately, a normal hotel is unfeasible from the little room available). If the owner wish to keep on renting out the apartment, the ground-floor space already has approval for food and beverage use.
Additional evolution of the property is subject to government’ approval.
Why you should invest at a Shophouse:
Shophouses are still an easily recognisable icon of Singapore’s past, representing our multicultural influences within their own architecture.
The ones that have survived Singapore’s urban development have been fiercely protected by strict conservation principles and guidelines for recovery and adjustments, in order to preserve them for future generations.
Investors in these shophouses incorporate private property funds, family offices and high net-worth people (The multimillion dollar costs these paychecks control unfortunately make them inaccessible to many ).
Commercial shophouses don’t frequently come up available in Singapore; their owners are generally reluctant to give up possession. People in prime central places (like this one in Chinatown) are much more valuable.
They are very popular with retail stores, as a less restrictive alternative to the mainstream choices for shopping malls — malls have constraints that stop more imaginative interior design or makeovers. The higher distance and liberty of shophouses makes them highly appealing; many businesses (for instance, designer boutiques) find this essential part of branding.
If the possibility of possessing one excites you, then create your expression of interest before it closes on 2nd October, at 3pm.