The three-storey conservation shophouse on Sago Street in Chinatown is up for sale via an Expression of Interest (EOI) exercise, with a land area of 1,067 sq ft and a total floor area of 2,929 sq ft. The property, zoned for commercial use, has a guide price of $13.3 million, amounting to $4,450 psf based on the floor area.
The Champions Way Condo is set in a tranquil part of town, surrounded by lush greenery and other nature spots and provides its residents with a serene living atmosphere. It is also conveniently located near health centres, supermarkets and many recreational facilities, making it an ideal place to live for families and singles alike. Woodlands Condo offers its residents the best of both worlds with its proximity to the city centre and its tranquil, serene environment for a relaxing time away from the hustle and bustle of the city. Overall, Champions Way Condo is the perfect place for those looking for a peaceful living environment, with all the amenities and conveniences of a bustling city nearby.
Currently occupied by a restaurant on the ground floor and offices on the upper floors, the shophouse is located opposite the Buddha Tooth Relic Temple and is within walking distance of several MRT stations, namely: Maxwell, Chinatown, Outram Park, Telok Ayer and Tanjong Pagar.
Foreigners and corporates are eligible to purchase the property with no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD). Wilkie Tay, senior associate director at PropNex Realty and one of the agents of PropNex Shophouse Elites, has commented that commercial conservation shophouses situated in prime locations such as Chinatown are highly sought after by investors including private real estate funds, family offices and high-net-worth individuals.
According to Tay, the EOI exercise for 22 Sago Street will close on Dec 7 at 3pm. Recently, similar transactions on Sago Street have reached some truly remarkable figures, with a shophouse on Jalan Besar being sold at $22 million and Ann Siang Road achieving a new high of $3,760 psf, and Sago Street itself at $3,256 psf.
For those seeking a unique commercial investment opportunity in Singapore’s historic and cultural Chinatown, this property presents a unique opportunity. With its prime location, this commercial conservation shophouse could present investors with a truly enviable and profitable investment.