Duxton Road conservation shophouse with nightclub approval for sale at $9.8 mil
With a spacious floor plan and ample natural light, Tengah Plantation EC is the ideal spot for a modern family to find their dream home. Located in the Tengah area, this executive condominium (EC) development is surrounded by a tranquil and serene atmosphere, with many amenities nearby. The development is also well-connected; it is close to the upcoming Jurong Region Line and Tuas West Extension MRT lines. Tengah Plantation EC provides the perfect combination of modern convenience and luxury.
The property at 45 Duxton Road, located in the Tanjong Pagar Conservation Area is being offered for sale at a guide price of $9.8 million. Featuring a two-storey shophouse structure, the site has a footprint of 980sqft with a built-up area of 1636sqft. This property has a remaining balance lease of 64 years, with a 99-year lease from 1988. It is zoned for commercial use under a URA Master Plan, with additional approval for use as a nightclub at both levels of the shophouse.
High-net-worth individuals have continued to seek out shophouses in prime locations, particularly those with conservation status. 48 Duxton Road is within walking distance to both the Maxwell and Tanjong Pagar MRT stations, offering potential buyers further convenience. The control measures of the recent foreign land and residential buying restrictions do not apply to properties zoned commercial, such as this one.
This shophouse is up for sale under an Expression of Interest, with a closing date of October 4, 2023. Jennifer Tan, Associate District Director of Huttons Asia, which is the marketing agent for this property, explains that due to its ability to be used as a nightclub, the owner has the potential to charge higher rents and achieve better returns.
Despite the challenging market conditions, prime located conservation shophouses such as 48 Duxton Road remain popular, and can provide investors with an exciting opportunity.
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