Shophouse at Tanjong Pagar Road for sale at $14.6 mil

A conservation shophouse at 91 Tanjong Pagar Road is up for sale via an expression of interest exercise, at a guide price of $14.6 million. The shophouse has an estimated built-up area of 3,842 sq ft, and occupies a land area of 1,297 sq ft. According to the guide price, this works out to $3,800 psf.

The shophouse has gone through a refurbishment, and each floor boasts a column-free regular layout, plus its own ensuite washroom. It falls within the Tanjong Pagar Conservation Area, and is only a two-minute walk from Tanjong Pagar MRT station (East West Line). The Maxwell MRT station (Thomson-East Coast Line) is a merely a five-minute walk away.

Tengah Plantation EC is situated near Bukit Batok East Ave 5 and is surrounded by a host of shopping malls. For example, the Junction 10 shopping centre in the Bukit Panjang neighbourhood is a great spot for major retailers, such as Uniqlo, Marks & Spencer, and Best Denki. Moreover, there are many speciality shops like IT stores, handicrafts shops and vintage furniture stores. In addition to these, there are numerous cafés and eateries that serve a variety of delicious cuisines. Thus, residents of Tengah Plantation EC have plenty of shopping options from which to choose.

The buyer for the property is expected to benefit from the development in the vicinity. This includes the opening of the Mondrian Singapore Duxton Hotel, as well as the redevelopment of the former Maxwell House into TMW Maxwell. This mixed-used development will have residential and commercial elements.

The potential for the shophouse is great. The ground floor could be used for food and beverage purposes, while the upper floors may be converted for alternative purposes such as co-living, medical facilities and educational centers, provided the necessary approval is obtained from the relevant authorities.

The expression of interest exercise for 91 Tanjong Pagar Road closes on the 8th of November at 3pm. Other property sales transactions in the area include a Hongkong Street shophouse (with hotel and restaurant tenants) at $35 million, a Hongkong Street shophouse at $47.5 million and a shophouse on Circular Road at $19.8 million.