Two Pagoda Street F&B shophouses up for sale at $32.8m

Their tenants are Dim Sum Inc and Wah! Kung Fu.

Two conservation shophouses in Pagoda Street are up for sale at $32.8m via Expression of Interest (EOI), JLL revealed.

Both properties in 31 and 76 Pagoda Street are three-storey shophouses wherein the latter has an attic.

The freehold property in 31 Pagoda Street has a land area of 1,310 sq ft whilst its floor area is 3,400 sq ft. With a commercial zoning and approved Food and Beverage (F&B) use, its ground floor is leased to Dim Sum Inc by Crystal Jade.

Meanwhile, the 99-years leasehold property in 76 Pagoda Street has a land area of 1,372 sq ft whilst its floor area is 3,800 sq ft. Also approved for F&B use, it is fully leased to Wah! Kung Fu.

JLL noted that the shophouse in 76 Pagoda Street is right next to the entrance of the Chinatown MRT station whilst the one in 31 Pagoda Street is just three minutes away from the landmark.

Moreover, both properties are readily accessible via public transportation along New Bridge Road and Cross Street and is walkable within ten to ten minutes from Raffles Place District. They are also easily accessible to other parts of Singapore via the Central Expressway (CTE), Marina Coastal Expressway (MCE) and Ayer Rajah Expressway (AYE).

“As the property sits on land zoned for commercial use, foreigners are eligible to purchase the property,” JLL noted. “There is no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the purchase of the property.”

The sale will be conducted through an EOI exercise which closes on 6 December at 3pm.