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Shophouse on Pagoda Street for sale at $22 mil

Atiqah Mokhtar
·1-min read


52 Pagoda Street (centre shophouse, in blue) (Picture: Knight Frank)

SINGAPORE (EDGEPROP) - A three-storey shophouse at 52 Pagoda Street in Chinatown is up for sale via an expression of interest (EOI) exercise with a guide price of $22 million. The property occupies a land area of 1,508 sq ft that is zoned for commercial use with a 99-year leasehold tenure from June 30, 2022.

Located in the Chinatown-Kreta Ayer Conservation Area, the shophouse is adjacent to the Chinatown Heritage Centre and is a four-minute walk to the Chinatown MRT Station which is an interchange for the North-East and Downtown Lines.


Map of 52 Pagoda Street (Source: EdgeProp LandLens)

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The shophouse has a total floor area of 4,016 sq ft, which means the guide price works out to about $5,500 psf. The ground floor of the property has approval for restaurant use. Currently, it is tenanted by a souvenir shop. “The upper floors are currently vacant and suitable for commercial offices or boutique hospitality operators given the listing’s ideal location and large catchment area,” adds Mary Sai, executive director, capital markets at Knight Frank Singapore, which is the exclusive marketing agent for the property.

Sai believes the shophouse will attract keen interest, given its long remaining tenure of 98 years, its location and the potential upside in value. “Notably, shophouses zoned for commercial use are even more sought following the removal of "commercial and residential" from the list of land-use zones in the Residential Property Act,” she continues. (Find Singapore commercial properties with our commercial directory)

Shophouse transactions in Districts 1 and 2 in 1H2023


Source: Knight Frank Singapore

The EOI for 52 Pagoda Street will close on Aug 30 at 3pm.

Check out the latest listings near Pagoda Street, Kreta Ayer Conservation Area, Chinatown MRT Station

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