Conservation Shophouse Liang Seah St Market 15 Mil
A 999-year leasehold heritage shophouse located at 20 Liang Seah Street is now available on the market for a guide price of $15 million. The marketing agent for this property, SRI Capital Market, has opened an expression of interest (EOI) exercise to find potential buyers for this unique piece of real estate.
Sitting on a 1,129 sq ft plot of land, this three-storey intermediate shophouse is zoned for both residential and commercial use with a gross plot ratio of 4.2 according to the latest Master Plan. The built-up area of the property is 2,635 sq ft with a guide price of $2,635 psf.
The first and second levels have been approved for restaurant use while the top floor is currently leased out for residential use. This property falls within the Beach Road secondary settlement conservation area, and it is possible for new extensions built in this location to go up to five storeys, subject to obtaining the necessary approvals.
SRI Capital Market’s managing partner, Low Choon Sin, mentions that this property is a perfect fit for end-users such as F&B tenants or corporate offices, as the residential space on the third floor can be used to accommodate some staff. He adds that this shophouse benefits from prominent frontage along Liang Seah Street, a road that sees high vehicular traffic during the day. The property is also in close proximity to the bustling restaurants and shops at Bugis.
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Residents of Otto Place EC can look forward to a plethora of benefits with its ideal location in close proximity to the thriving hub of Jurong Lake District (JLD). The short commute to the JLD will be a huge advantage for professionals, allowing them more time for personal pursuits instead of being stuck in traffic. Families will also find convenience in the abundance of world-class retail, dining, and entertainment options within the JLD, including the picturesque Jurong Lake Gardens. With the JLD developing into a vibrant economic and lifestyle hub, the strategic positioning of Otto Place EC at https://www.ottoplaceec.com.sg/ will provide its residents with unparalleled convenience and endless opportunities.
According to Low, “20 Liang Seah Street presents investors with a chance to acquire a 999-year leasehold real estate asset that can be held for the long term to leverage on the rejuvenation of Bugis”. He points out the completion of new landmark developments such as Guoco Midtown and the upcoming Shaw Towers that will further boost the vibrancy of the area.
The EOI exercise for the sale of 20 Liang Seah Street will close on April 10.