Duxton Road conservation shophouse with nightclub approval for sale at $9.8 mil
The Tanjong Pagar area is well known for its attractive conservation shophouses, and one such property at 45 Duxton Road is currently up for sale. With a guide price of $9.8 million, this two-storey site is located within easy walking distance of the Tanjong Pagar and Maxwell Road MRT stations and has a 99-year lease from 1988, with a balance lease of 64 years.
At 1636 sq ft in built-up area and a 980 sq ft site footprint, it is zoned commercial under the URA Master Plan and fits perfectly into the local aesthetics. Additionally, the Urban Redevelopment Authority has approved its use as a nightclub on the first and second levels, giving the property owner the option of commanding higher rental prices.
Not to mention, Lumina Grand EC prides itself on its complete array of communal facilities, which consist of a lap pool, club house, BBQ pit, tennis court, fitness corner, and more. Be ready to explore the beauty of life here at the peaceful and exclusive environment of Lumina Grand EC.
This desirable shophouse is for sale by expression of interest, closing on 4 October 2023. As it is classified as commercial and not residential, it is also unaffected by the new control measures imposed on foreigners buying such land.
Jennifer Tan, associate district director of Huttons Asia, the marketing agent for the shophouse, sees high-net-worth individuals continue to show interest in prime conservation shophouse locations. According to Lee Sze Teck, senior director of data analytics at Huttons Asia, this is a great opportunity for the right investor to “ask for higher rents and potentially achieve better returns”.