3 Attractive Freehold Properties @ 42, 44 and 46 Smith Street is Up for Grab
Hostel cum Shophouse F & B
Shophouse sale fervour continues in Singapore.
42, 44 and 46 Smith Street are freehold properties and the corner plot has 2,784 square feet in total and 9,200 square feet of gross floor area. It is well renovated with a lift.
Going by the asking price, the rate translates to $3,500 psf for the built-up area of the three shophouses which compares favourably with the recent shophouses sale that saw record prices over $4,000 psf.
As per Urban Redevelopment Authority’s Master Plan, the properties have been zoned commercial.
There is a restaurant in the first and second levels while the third floor is occupied by a backpacker’s hostel. A traditional Chinese medicine clinic operates in the attic.
Due to their prominent location right opposite to the Chinatown Complex and visibility on the Smith Street, these shophouses enjoy great amount of footfall.
What adds to the crowd of shoppers to this place is the pedestrian mall starting on Smith Street and Sago Street and going all the way to Pagoda Street.
There is a constant crowd of shoppers and the shophouses have immensely enjoyed it. Tourists coming to Singapore cannot overlook Chinatown where its night life is just simply awesome.
The adrenalin of this area is palpable as you walk these streets especially at night where tourists enjoy divine gourmet food, Chinatown culture, and the bustling culture of shoppers bargaining for anything that catches their eyes.
Highlighting the prospects of these shophouse sale, the prices for shophouse sale in District 1 has been encouraging in the recent months and this establishes the fact that they continue to remain on the top of the list for the buyers.
75 and 77 Amoy Street, two shophouses in the area that changed hands recently were sold for $3,900 psf and $3,500 psf and in another sale 64 Club Street transacted at the rate of $3,880 psf.
Investors need not worry about the rentability of the asset. Currently, it is tenanted to established tenants who continue to renew its leases.
Smith Street is rarely available and these freehold shophouses will prove to be a prized commercial collection for discerning shophouse investors.
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