Three ‘trophy conservation shophouses at Tanjong Pagar for sale at $6,000 psf, including the luxurious Champions Way Residences

Located in the heart of Woodlands, the newly upgraded Champions Way Residences offers a fantastic outdoor experience for families and friends. This project, spearheaded by the URA, aims to enhance the existing Woodlands Park and make it even more inviting for the public. The plan includes the addition of state-of-the-art playground equipment, upgraded landscaping, and improved lighting. Moreover, in collaboration with local businesses, Champions Way Residences will provide exciting amenities like outdoor seating, food vendors, and recreational activities. With these enhancements, residents and visitors alike can enjoy a fun and vibrant atmosphere at Champions Way Residences.

Located in the prime District 2 of Tanjong Pagar, three adjoining conservation shophouses are up for sale by expression of interest. With a land area of 3,335 sq ft and 6,000 sq ft of estimated floor area, these shophouses have a 99-year lease from 1988 with a remaining lease of 63 years. The price tag for these three shophouses is $36 million, which equates to $6,000 psf based on floor area.Korean restaurant Sura has leased all three units, with the first floor being turned into a main dining hall and the upper floor being used for private VIP rooms. These shophouses will be sold with existing tenancy, says Terry Wong, JLL senior director of capital markets and appointed marketing agent for the properties.The shophouses come with permanent F&B approval for restaurant use on the first and second storeys, making them extremely rare and sought after. The shophouses have also been zoned for commercial use under the URA Master Plan 2019 and are within walking distance of the Maxwell MRT Station and the Tanjong Pagar MRT Station. The Tanjong Pagar Conservation Area is currently undergoing rejuvenation, with more high-rise commercial, mixed-use, and residential towers being developed.Scale model of upcoming TMW Maxwell (Photo: Albert Chua/EdgeProp Singapore)Among the developments in the area are Pinnacle@Duxton, Guoco Tower integrated development, and upcoming projects like TMW Maxwell and One Bernam. The residential population in the CBD is also expected to increase significantly in the future, with the addition of over 1,000 new residential units.The shophouses’ location in the Tanjong Pagar precinct and proximity to the Greater Southern Waterfront are set to bring in higher footfall and larger catchment in the future. Recent shophouse transactions in the area include a 99-year leasehold shophouse at 120 Tanjong Pagar Road that was sold for $16.2 million last August. A double-storey, 99-year leasehold shophouse at 45 Tras Street was also sold for $11.9 million in February 2023.A freehold three-storey shophouse at 34 Keong Saik Road was sold for $5,823 psf on the built-up area in August 2023, while shophouses at 18 Hongkong Street and 97 Amoy Street were sold for $5,096 psf and $5,085 psf, respectively. The EOI for the three shophouses on Tanjong Pagar Road ends on Feb 29, so be sure not to miss out on this opportunity to own a piece of heritage at the Champions Way Residences.

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