Shophouses in the heart of Chinatown on sale for $53m

The shophouses have basement and attic levels along Pagoda Street.

Three-storey shophouses with basement and attic levels in the heart of Chinatown along Pagoda Street are on sale via public tender exercise for $53m, marketing agent, Savills, said.

In its announcement, Savills said the sale of the property, which has a land area of 2,493 square feet, will close on Thursday, 30 June at 3 pm.

Rebuilt in 1995, the shophouses are located where there is high foot traffic from both local and overseas visitors.

It has a  passenger lift to serve ground floor to attic levels and is currently 100% leased to a food and beverage operator.

The 79, 81 Pagoda Street property is also near mass transportation such as Chinatown Mass Rapid Transit Interchange Station (Downtown Line and North-East Line) and the Central Business District  located over five-minute walk away.

Foreigners and companies are allowed to buy the properties with no Additional Buyer Stamp Duty or Seller’s Stamp Duty.