Newbie
Has anyone of you invested in conservation houses or shophouses. Other than the concern that you cannot tear down and rebuild or do major A&A, is it a good choice.
Seeing more freehold conservation houses with fantastic interiors and good location advertised for sale.
Is it worth considering for own stay or long term investment.
Newbie
No response to this question says it all...Not really worth the thought I guess.
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appears that some of these houses... notably Lotus @ Joo Chiat which I used to pass by quite often are left empty for extended periods. the marketing agent banner hang there until torn still need to replace new one... thats how long.
Newbie
Conservation houses in Joo Chiat / Katong area are sold for more than $2K psf!
Junior
it seem to have alot of restrictions in term of renovation.....it has the 3 R principles ..Retention, sensitive Restoration and careful RepairOriginally Posted by Santro
and that is pricely..
the olden days design can not be change and sometime is really not practical in today context. eg...very narrow stairways, high steps, steep stairway slope. and some even have a 5 inch water bun wall in from the main door. olden day flooding problems...
or maybe i getting old and my poor knee is killing me...
Newbie
some shophouses are tenented with good rental and prime location but like you correctly mentioned, cannot do any A&A and have to live with the primitive setup.
Junior
Have you done the observation what type of business are those tenants?
I have the impression that the tenancy don last too long and change tenant very fast....
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isnt it usually those arty farty ones like design studio, art gallery, cafe etc
Junior
Singapore artists are poor, as such , they don stay long...
Newbie
Well..its the other way round from what I saw. Locations like Chinatown, Little India and Orchard/Somerset seem to be settled in for a long time. The nature of business is very much like selling fruits, vege, TCM and tailoring shops. Dont think they can move business that easily. It could be a headache for them to rebuild their client base if keep moving.
Junior
How' the rental rate of such business?
Newbie
about 3-4%. It may be lower than residential properties but more stable as businesses do not tend to move around that easily.
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