For sale through an expression of interest exercise is the conservation shophouse located at 91 Tanjong Pagar Road, with a guide price of $14.6 million. It boasts an estimated built-up area of about 3,842 sq ft, occupying a land area of 1,297 sq ft zoned for commercial use. At $3,800 psf, this shophouse offers two storeys, an attic, and comes with an ensuite washroom.
Savills, the exclusive marketing agent, mentions that the property has been thoroughly refurbished and has column-free, regular layout on each floor. Located within the Tanjong Pagar Conservation Area, it is only two minutes away from the Tanjong Pagar MRT Station on East West Line and a five-minute walk from the Maxwell MRT Station on the Thomson-East Coast Line.
Sophia Lim, director of investment sales and capital markets at Savills Singapore, explains that the new owner is set to benefit immensely from the rejuvenation in the vicinity such is the opening of the Mondrian Singapore Duxton Hotel and the redevelopment of the former Maxwell House.
This provides the buyer with the potential opportunity to convert to F&B use on the ground floor and the upper floors for alternative uses such as co-living, medical facilities and educational centres, subject to approval from the relevant authorities.
The EOI exercise for 91 Tanjong Pagar Road will close on Nov 8 at 3pm.
Latest sales transactions for commercial properties on Tanjong Pagar Road (Source: EdgeProp Research) have also shown promising prospects for the property.
For those interested in the property, Savills is the exclusive marketing agent with a guide price of $14.6 million. This shophouse boasts a total built-up area of 3,842 sq ft, an attic, and a land area of 1,297 sq ft zoned for commercial use, at $3,800 psf.
Located at the Tanjong Pagar Conservation Area, it is just a two-minute walk to 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.
The property is set to benefit from the recent developments surrounding it. Sophia Lim, director of investment sales and capital markets at Savills Singapore, mentions the opening of Mondrian Singapore Duxton Hotel and the redevelopment of the former Maxwell House.
The program is aimed at helping to create a vibrant and livable environment for all who live and work in the Woodlands Condo area. It will also be a great way to enjoy the area’s natural beauty. The program will include a range of artworks, such as sculptures, murals, and interactive art pieces. It will also feature educational programs, allowing residents and visitors to learn more about the area’s history and culture.
In addition, incoming buyers may be allowed to convert the ground floor for F&B use and utilize the upper floors for alternative uses, such as co-living, medical facilities and educational centres, depending on approval from the proper authorities.
Interested parties may take part in the EOI exercise which closes on Nov 8th at 3 pm.