Written by: Amy R. Remo
The traditional shophouse is finding its rightful place in today’s modern cities.
Considered a heritage architectural icon in many Southeast Asian cities, shophouses have been seeing a resurgence in demand over the past years, as they are deemed “prized assets” for commercial spaces. Given their flexibility in uses, prime location, strong investment potential, and community integration, these bright, colorful, and ornate historical buildings are seen as practical and cost-efficient as you can grow your business right where you live.
Iconic shophouses rising in Crossroads are proving to be a viable, conducive location for businesses looking to capitalize on the prospects in this emerging 83-ha integrated mixed-use development in Plaridel, Bulacan.
Such strong demand is evident in Singapore, where shophouses are considered “blazing hot properties”, said a Bloomberg news report dated Oct. 16. The article noted that “prices for shophouses have surged to a record S$5,500 per square foot—double Manhattan’s Upper Fifth Avenue, the world’s most expensive shopping street in 2022.”
Better efficiency, productivity
In the Philippines, shophouses are also seeing a resurgence.
That’s because leading property developer Ayala Land Inc. is skillfully integrating these landmarks into its burgeoning modern estates, where they are strategically situated near commercial developments, schools, civic spaces like churches, plazas, open spaces, and transport terminals.
Often rising four to five stories high, these shophouses offer better efficiency and productivity, as well as versatility in uses as the lower floors can be used for various commercial or office purposes while the upper floors can serve as residences. At the same time, these structures present strong investment potential in terms of rental income and capital appreciation.
Thus, in offering shophouse lots, Ayala Land is presenting a golden opportunity for investors to leverage on the substantial potential and perks offered by this type of development.
Setting new standards
Among the Ayala Land estates that currently offer shophouse lots include Areza in Lipa Batangas, Cresendo in Tarlac, and Crossroads in Plaridel Bulacan.
Cresendo estate in Tarlac offers pioneering shophouse buildings that have leasable spaces ranging from 70 sqm to 300 sqm, located along the Downtown Promenade.
Here, Ayala Land seeks to set new standards in the design and function of shophouses, taking cues from the historic old town of Madrid, which features small-scale pedestrian streets, low-rise mixed-use buildings, green streetscape, interesting architecture, and ground-floor retail. While providing a new type of commercial and residential spaces, the shophouses are also expected to help spur economic activities within the locale.
At the Areza Downtown in Lipa City, Batangas, for example, premium shophouse lots are being placed near the fresh market, the new Lipa City Hall, and well-manicured open spaces. The shophouse lots, with sizes ranging from 500 sqm to 600 sqm, are poised to help transform Areza Downtown into a vibrant central address for businesses.
At the Areza Downtown in Lipa City, premium shophouse lots are being placed near the fresh market, the new Lipa City Hall, and well manicured open spaces.
Investors and businesses can put up contemporary yet heritage-like shophouses that can house training and conference facilities; schools; hospitals and clinics; showrooms and service centers; establishments; as well as condominiums, dormitories, and hotels. These are expected to flourish next to a central estate greenway and vibrant open spaces.
Accelerating growth
Similarly, the 290-ha master planned Cresendo estate in Tarlac offers pioneering shophouse buildings that have leasable spaces ranging from 70 sqm to 300 sqm, located along the Downtown Promenade. Prices for the lots, whose sizes range from 520 sqm to 670 sqm, start at P65,000 per sqm or a total of P31 million.
Ayala Land has ensured that the shophouses will be strategically located right across the promenade and near the open grounds, multi-purpose field, big box retailers like MerryMart and McDonald’s, church, plaza, and the Don Bosco campus. This will enable residents and guests to conveniently walk from one hub to another.
Investing in these shophouse buildings and lots will allow businesses and enterprising individuals to tap promising prospects that await in this emerging estate, which is seen to generate new work opportunities and help accelerate growth not only in Tarlac, but also within Central Luzon.
Conducive location
Iconic shophouses rising in Crossroads are proving to be a viable, conducive location for businesses looking to capitalize on the prospects in this emerging 83-ha integrated mixed-use development in Plaridel, Bulacan. Offering a blend of residential and commercial spaces, these shophouses present an ideal synergy of convenience and opportunity for those wanting to have their residences and businesses in a single location.
On offer are 34 shophouse lots for sale, spread across a 12.6-ha expanse under its Phase 1 development. These lots, with sizes ranging from 332 sqm to 1,440 sqm, are priced from P26 million to P133 million for the biggest cuts that have frontage along the highway. These shophouses are within walking distance from central park, other commercial developments, transport terminals, and other modern conveniences.
As investors and businesses seek distinctive spaces that cater to evolving needs, Ayala Land’s shophouses are proving to be a practical, smart choice. Their combination of heritage charm, modern adaptability, and potential for profitability indeed makes shophouses in Ayala Land’s estates a standout option in today’s commercial real estate landscape.
ADVT.
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