Shophouse at Tanjong Pagar Road for sale at $14.6 mil
/ EdgeProp Singapore |
The shophouse at 91 Tanjong Pagar Road (centre) (Picture: Savills)
SINGAPORE (EDGEPROP) - A conservation shophouse at 91 Tanjong Pagar Road is up for sale through an expression of interest (EOI) exercise with a guide price of $14.6 million. The three-storey shophouse comes with an attic and has an estimated built-up area of about 3,842 sq ft. It occupies a land area of 1,297 sq ft zoned for commercial use. Based on the built-up area, the guide price works out to $3,800 psf.
Savills, the exclusive marketing agent for the property, says the property has been refurbished. Each floor has a column-free, regular layout and comes with an ensuite washroom.
Located within the Tanjong Pagar Conservation Area, the property is a two-minute walk from the Tanjong Pagar MRT Station on the East West Line and a five-minute walk from the Maxwell MRT Station on the Thomson-East Coast Line.
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“The incoming buyer is poised to benefit from the rejuvenation in the immediate vicinity with the opening of Mondrian Singapore Duxton Hotel, as well as the redevelopment of the former Maxwell House to TMW Maxwell, a residential and commercial mixed-used development,” remarks Sophia Lim, director of investment sales and capital markets at Savills Singapore.
Lim adds the buyer could potentially convert the ground floor of the shophouse for F&B use and the upper floors for alternative uses such as co-living, medical facilities and educational centres, subject to approval from authorities.
Latest sales transactions for commercial properties on Tanjong Pagar Road (Source: EdgeProp Research)
The EOI exercise for 91 Tanjong Pagar Road will close on Nov 8 at 3pm.
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