“Pagoda Street is arguably the most coveted address within Chinatown and the heartbeat of the entire conservation precinct. Opportunities to acquire adjoining conserved shophouses on this street are rare, particularly a fully tenanted pair with prominent frontage and immediate income,” says Sophia Lim, director at Cushman & Wakefield.
The properties are approved for shop use on the ground floor and are said to enjoy strong patronage and consistent footfall from locals and tourists. Ground floor tenants will also be able to leverage the outdoor refreshment area (ORA) or alfresco area directly in front of the shophouses.
The second, third and mezzanine floors, which feature regular and efficient layouts, are leased to office tenants. They also come with modern finishes, in-unit washrooms and near full-height windows.
“Given its immediate proximity to Chinatown MRT Interchange and consistent year-round footfall, we expect interest from investors seeking stable income assets with strong underlying locational fundamentals,” Lim adds.
