A pair of rare conservation shophouses on Pagoda Street in Chinatown has hit the market for S$35.7 million, offering investors a prime location near tourism hotspots and upcoming revitalisation projects.
KEY POINTS
IN SIMPLE TERMS
Two heritage shophouses in Chinatown are being sold for S$35.7 million. They are 3-storey buildings with shops on the ground floor and offices upstairs, already rented out to tenants. The location is excellent—right next to Chinatown MRT and a popular street market where lots of tourists visit.
WHY IT MATTERS
WHERE DO YOU STAND?
Do you think investing in conservation shophouses in Chinatown is a wise financial decision given rising tourist arrivals and planned area revitalisation?
👍 👎 Vote ↓A pair of exquisite conservation shophouses in Singapore’s Chinatown hits the market, offering a unique investment opportunity in a prime tourist location.
In a press release by CBRE, a rare opportunity to own a piece of Singapore’s heritage has emerged in the heart of Chinatown.
CBRE is offering for sale a pair of conservation shophouses located at 54 and 56 Pagoda Street.
The sale is being conducted through an Expression of Interest exercise.
Interested buyers have until Tuesday 13 May 2025 at 3 pm to submit their offers.
The properties are 3-storey conservation shophouses with attics.
They boast a total land area of 3,010 sq ft.
The approximate total floor area is an impressive 9,162 sq ft.
Both properties are fully tenanted, with retail units on the ground floor and offices from the second floor to the attic.
| Feature | Details |
|---|---|
| Location | 54 and 56 Pagoda Street |
| Structure | 3-storey with attics |
| Land Area | 3,010 sq ft |
| Total Floor Area | Approximately 9,162 sq ft |
The indicative guide price for these properties is set at S$35.7 million.
This translates to approximately S$3,897 per sq ft on the existing floor area.
Foreigners are eligible to purchase these properties without any restrictions.
Notably, no Additional Buyers Stamp Duty (ABSD) or Sellers Stamp Duty (SSD) is imposed on this sale.
The properties offer immediate rental income, making them an attractive investment option.
The shophouses are situated in the Chinatown Historic District, a prime location for both tourists and locals.
They feature a more than 12-metre-wide frontage along Pagoda Street, which is part of the popular Chinatown Street Market.
In terms of accessibility, the properties are ideally located:
The investment potential of these properties is significant, given the recent developments in the area.
According to the Singapore Tourism Board (STB), visitor arrivals in 2024 increased by 21% compared to 2023, with further growth expected in 2025.
The ground floor units are ideal for Food & Beverage use, with the potential to convert additional shop front units into Outdoor Refreshment Areas, subject to approval.
Clemence Lee, Executive Director Capital Markets Singapore at CBRE, was quoted as saying, “The main attraction of this investment opportunity is the rarity of such offerings within the Chinatown Street Market.”
Lee further emphasised the strategic value of the location, stating, “Its strategic location in Chinatown…enables it to enjoy strong shopper traffic throughout the day which is set to further improve with increased strength and momentum in tourist arrival rates.”
The recent developments in the area, including the award of the Smith Street tender to Chinatown Business Association in August 2024, are expected to further enhance the appeal of these properties.
This revitalisation effort is set to transform the former Chinatown Food Street into a vibrant lifestyle corridor, featuring popular brands like Starbucks, Boon Tong Kee, and Killiney coffeeshop.
Do you think investing in conservation shophouses in Chinatown is a wise financial decision given the current market trends?
Do you think investing in conservation shophouses in Chinatown is a wise financial decision given rising tourist arrivals and planned area revitalisation?
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