3 Attractive Freehold Properties @ 42, 44 and 46 Smith Street is Up for Grab
Shophouse sale fervour continues in Singapore. Three adjacent shophouses along Chinatown’ Smith Street have been put up for sale.
The marketing agent for the sale announced the public tender for these conservation shophouses for $33.25 million.
Going by the asking price, the rate translates to $3,500 psf for the built-up area of the three shophouses.
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 staring 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.
Highlighting the prospects of these shophouse sale, the marketing agent said that 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.
According to agent the reception to these properties has been good prior to launch of the tender and they have seen interest from multiple quarters.
The tender closing date for these freehold properties is September 25.
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