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Uptick in shophouse sales attests to niche appeal

Scarcity and historical value make it a sought-after property class

VINTAGE LURE: A pair of shophouses along Club Street (above) went for S$8 million. The two-storey properties are on a 1,272 sq ft site with a balance lease term of 79 years. The ground level is leased to a restaurant.
VINTAGE LURE: In Pagoda Street, a three-storey shophouse (Above, blue facade) was sold for S$12 million. This reflects a 3.7 per cent gross yield based on existing rental income. The ground floor is leased as a shop, the second floor as offices and the third floor, a spa.

THE shophouse market seems to be showing some buzz in sales - perhaps a final burst of activity before a year-end wind-down.

Recent deals include two acquisitions in the Duxton area totalling S$13.7 million; the buyer is believed to be Spanish tycoon Ricardo Portabella Peralta, who a