Special Feature

Trusted partner in shophouse sales, advising clients to finish well

September 20, 2024 6:00 PM SGT

Loyalle Chin, PropNex Realty (SG), receiving the award from Bernard Tong, EdgeProp (SG) (Picture: Samuel Isaac Chua/The Edge Singapore)

"With God’s grace, our experienced shophouse specialists — backed by nearly $1 billion in sales and a trusted network of co-broke partners and ready buyers — are committed to ensuring a smooth and successful sale for you." — Loyalle Chin

A 62-year-old Chinese faced a dilemma: He had decided to sell his property — a commercial shophouse his family owned for decades–yet soon realised that selling it was a complex process with numerous factors.

“In navigating complex sales negotiations, how can I leverage expert guidance to avoid pitfalls and clinch a successful transaction?” the seller asked. He wondered what the highest price for the asset would be possible, whether he should apply for a change of use to increase its appeal and how he could attract serious buyers to ensure a smooth and seamless sale. While the decision to sell was clear, the challenge lay in determining the most effective strategy.

Many shophouse owners face challenges similar to this. The process can become overwhelming, especially for those looking to sell while managing the interests of multiple owners. In these cases, turning to a trusted specialist can help protect their interests and guide them through the multi-faceted process.

With a proven track record of close to $1 billion in sales transactions, Chin leads a team known for their expertise with top-tier clients, including ultra-high-net-worth individuals (UNWis) and family business owners. (Picture: EdgeProp SG)

Leading specialist with proven track record

Enter Loyalle Chin, a highly sought-after realtor in the commercial shophouse sector and senior associate district director at PropNex Realty. With a proven track record of close to $1 billion in sales transactions, Chin is a leading specialist known for his expertise with top-tier clients, including ultra-high-net-worth individuals (UHNWIs) and family business owners.

His expert competence in commercial real estate and exceptional ability to understand his client’s needs has earned him the title of PropNex’s Champion Individual Producer twice and three-time Champion Platinum Achiever, one of the highest accolades bestowed to the most consistent agents each year in Singapore’s largest real estate agency.

His exceptional ability to understand his client's needs has earned him the title of PropNex's Champion Individual Producer twice and three-time Champion Platinum Achiever, one of the highest accolades bestowed to the most consistent agents each year in Singapore's largest real estate agency. (Picture: Loyalle Chin)

Local and global clientele

Chin’s deep understanding of the shophouse market stems from its distinct position within Singapore’s property landscape. In recent years, the post-pandemic resurgence in retail and tourism has further enhanced the appeal of shophouses.

“Shophouses have notably attracted the interest of global private wealth investors. A new wave of business owners and single family office members are seeking to invest in Singapore commercial real estate,” says Chin. “Shophouses present a viable opportunity of their portfolio diversification.”

He has worked with many of these investors who are C-suite executives and business owners based in Singapore as well as international UHNWIs from Hong Kong, mainland China, America and Indonesia. His clientele includes both first-time and experienced investors.

His successful deals include the sale of a shophouse on Amoy Street — recognised as the “Nassim of shophouses” — for $18.688 million in late 2022. At that time, this sale achieved a record price per square foot. In the Jalan Besar area, Chin recently secured the sale of a shophouse on Upper Weld Road based on his successful expression of interest exercise with a listed price of $11 million. Apart from the Central Business District, he foresees Jalan Besar, Kampong Glam and Bugis as the next shophouse districts experiencing further gentrification.

In Jalan Besar area, Chin recently secured the sale of a shophouse on Upper Weld Road based on his successful expression of interest exercise with a listed price of $11 million. (Picture: Loyalle Chin)

Profits, people, purpose

Chin seeks to empower more shophouse clients to invest with a “triple bottom line”: profits, placemaking and purpose.

While traditional profit metrics such as Internal Rate of Return still factor into investors’ decision-making, greater emphasis is now put on placemaking, which Chin describes as an intricate process that harnesses urban design, tenant curation and social architecture to curate an ambience.

For example, an investor could perform Additions, Enhancements and Improvements (AEI) to a dilapidated commercial shophouse according to conservation guidelines while creating a “third place” of gorgeous fitness and wellness clubs and hidden cafes on the upper floor for Gen Z and millennials. He adds that serving the community in this way creates a lasting legacy that generates a positive social impact for generations.

The desire to balance profits and people through creating third places is ultimately governed by a redemptive purpose. He believes shophouses and commercial buildings can be powerfully used to restore human flourishing which leads to generating long-term value.

Chin seeks to empower more shophouse clients to invest with a “triple bottom line”: profits, placemaking and purpose. (Picture: EdgeProp SG)

Strategic alliance, guidance to shophouse clients

Chin is passionate about serving the next generation of business leaders and family business owners seeking a triple-bottom-line with their shophouse investments. Leveraging his years of experience, Chin has established systems that provide exceptional value-add to clients.

Under PropNex CEO Ismail Gafoor, director Alan Lim and deputy CEO Kelvin Fong’s guidance, Chin built a team of 25 specialists handling both commercial shophouses and residential deals. Together with Eugene, Jeremy, John, Hwa San, Benedict and Kelly under PropNex ShophouseHuat, their scope of services extends from market insights to acquisition, asset management, leasing, consultancy including obtaining approvals for change of use and topping up of lease tenure, divestment and capital recycling — the end-to-end of private equity real estate (PERE) investment. They have also advised shophouse clients in the area of estate planning legacies and trusts.

Chin built a team of 25 specialists handling both commercial shophouses and residential deals. (Picture: Loyalle Chin)

Chin also founded “Shophouse with A Purpose”, a collaborative alliance that connects the team’s prospective clients with respective industry experts: bankers, valuers, shophouse conveyancing lawyers, architects, surveyors, engineers and an established tenant base including restaurants and hospitality players. “Purpose-driven investors and industry leaders are uniting with the primary mission to achieve the triple bottom line,” he adds.

Such strategic alliance in partnership with PropNex ShophouseHuat provides invaluable guidance to their shophouse clients, including access to a network who help ensure a successful sales and asset management process.

“With God’s grace, our experienced shophouse specialists — backed by nearly $1 billion in sales and a trusted network of co-broke partners and ready buyers — are committed to ensuring a smooth and successful sale for you,” Chin said.

He values work-life balance and devotes his weekends to his beloved wife, family and faith. Despite his work demands, Chin is committed to daily dinners with his children. Ultimately, partnering with trusted shophouse clients to finish well in the most important aspects of life is deeply rewarding.