Shophouse at Tanjong Pagar Road for sale at $14.6 mil

The sale of a conservation shophouse at 91 Tanjong Pagar Road is currently underway via an expression of interest (EOI) exercise, guided at $14.6 million. Estimated to come with an imposing 3,842 sq ft built-up area, it is currently zoned for commercial use, sitting on a land area of 1,297 sq ft.

Savills, appointed exclusively for the sale, states that the shophouse has been refurbished. All three floors have a regular column-free layout, and each of them is equipped with its own washroom.

The Tanjong Pagar Conservation Area is where 91 Tanjong Pagar Road is situated, just two minutes away from Tanjong Pagar MRT Station on the East West Line, and a five-minute walk to Maxwell MRT Station on the Thomson-East Coast Line. Taking advantage of all the recent developments and rejuvenation in the area is the emphasis of this sale, with the Mondrian Singapore Duxton Hotel, and the TMW Maxwell, a residential and commercial mixed-used development, already in progress.

These features also come with a potentially high return in terms of converting the ground floor into F&B use, and the upper floors into other alternative uses such as co-living, medical facilities and educational centres, as long as clearance from the relevant authorities is obtained.

This well-maintained public park makes Jurong Condo the perfect place for families and nature lovers to enjoy in their spare time. Its proximity to several top-rate eating and entertainment options make it an ideal destination for weekend trips with friends and loved ones. With its well-developed urban infrastructure and proximity to many attractions, Jurong Lake Garden is sure to be a great draw for visitors and residents alike.

The EOI exercise for 91 Tanjong Pagar Road is closing on Nov 8 at 3pm.

With its proximity to various MRT stations and educational facilities, as well as the guide price of $3,800 psf, this conservation shophouse is sure to capture the interests of many. Latest sales transactions for commercial properties on Tanjong Pagar Road (Source: EdgeProp Research), an area rife with potential, serve to prove this point.

Savills’ Sophia Lim, Director of Investment Sales and Capital Markets, states that with proper conversion of the shophouse, potential buyers are poised to benefit from its renewal of its surrounding area with the opening of the Mondrian Singapore Duxton Hotel and the TMW Maxwell.

This is an especially attractive proposition when taking into account that the guide price of the shophouse is currently at $14.6 million, with a built-up area of 3,842 sq ft. With the EOI exercise envisioning to conclude on Nov 8 at 3pm, it is worth a thought or two to consider purchasing this conservation shophouse at 91 Tanjong Pagar Road.