CBRE has announced the sale of two conservation shophouses located at 54 and 56 Pagoda Street in Singapore’s Chinatown. The properties, which are fully tenanted, are being sold through an Expression of Interest exercise closing on 13 May 2025. With a total land area of 3,010 square feet and a floor area of approximately 9,162 square feet, these shophouses present a unique investment opportunity in a prime location.
The shophouses are situated in the heart of Chinatown, a popular tourist destination known for its vibrant street market. The properties boast a prominent 12-metre-wide frontage along Pagoda Street, ensuring high visibility and foot traffic. Clemence Lee, Executive Director of Capital Markets at CBRE, highlighted the rarity of such offerings, noting that shophouses in this area are considered “trophy assets” and rarely come up for sale.
The indicative guide price for the properties is $26.2 million (S$35.7 million), with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty applicable, making it an attractive option for foreign investors. The ground floor units, currently leased to retail tenants, are ideal for potential Food & Beverage use, subject to approval from relevant authorities.
The location offers excellent accessibility, being adjacent to Chinatown MRT Interchange and within walking distance of Maxwell and Telok Ayer MRT stations. The area is expected to benefit from increased tourist arrivals, with the Singapore Tourism Board reporting a 21% increase in visitor numbers in 2024 compared to the previous year.
As Chinatown continues to evolve, these shophouses offer investors a chance to capitalise on the area’s growing appeal and strategic location.
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