For Immediate Release – Savills Singapore, the exclusive marketing agent, is delighted to offer 22 Temple Street, a unique and historically significant shophouse for sale.
Featuring a distinctive historical façade, 22 Temple Street sits on a freehold land of approximately 1,276 square feet and has a floor area of approximately 3,423 square feet.
Zoned “Commercial”, the 3-storey shophouse has a well-designed and efficient layout. Currently the property is 100% occupied, with a pawn shop occupying both the first and second floors, while the third floor is tenanted to a digital marketing company.
Located in the heart of Chinatown, 22 Temple Street holds a special place within the enclave’s rich heritage, which was once a district for Singapore’s Chinese immigrant population. The neighbourhood is renowned for its harmonious blend of old-world charm and contemporary vibrancy, with century-old temples, traditional medicinal halls, and historic shophouses coexisting alongside trendy lifestyle shops and bustling new bars.
Positioned strategically in the dynamic and historically significant Chinatown area, 22 Temple Street benefits from high footfall throughout the day. The property enjoys excellent connectivity with Chinatown MRT Interchange Station (Downtown Line and North-East Line) and Maxwell MRT station (Thomson-East Coast Line) just a short two-minute walk away.
Ms. Yap Hui Yee, Executive Director, Investment Sales & Capital Markets at Savills Singapore, shares: “The shophouse ownership along Temple Street is very tightly held given many shophouse owners use the premises to operate their businesses. Many of the shophouses along Temple Street have private leases carved out and as such they have very short lease balance left.”
Ms. Yap adds: “With 22 Temple Street’s clean freehold title, we present an exciting and exceptional opportunity for investors and end-users seeking a prime commercial shophouse in the heart of Chinatown.”
As the shophouse is fully zoned for commercial use under the Urban Redevelopment Authority’s Master Plan 2019, foreigners and companies are eligible to purchase the shophouse and there will be no Additional Buyer Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) payable.
The sale will be conducted through Public Expression of Interest exercise, which concludes Wednesday, 12 July 2023, at 3pm.