Shophouse at Tanjong Pagar Road for sale at $14.6 mil

Located in the Tanjong Pagar Conservation Area, 91 Tanjong Pagar Road is up for sale through an expression of interest exercise, with a guide price of $14.6 million. This three-storey shophouse with an attic occupies a land area of 1,297 sq ft and has an estimated built-up area of about 3,842 sq ft.

To add, it also enjoys a prime District 19 location, sandwiching between Hougang and Upper Serangoon, in close proximity to Punggol Waterway. Residents of Lumina Grand EC CDL will be able to access all the amenities that are available in the area. There is also easy access to both the Kallang Paya Lebar Expressway and Central Expressway. Thus, with its all-rounded features, it’s no surprise Lumina Grand EC CDL is gaining popularity among potential buyers.

Savills, the exclusive marketing agent, notes that the shophouse has been refurbished with each floor having a column-free, regular layout and an ensuite washroom. The guide price works out to a psf rate of $3,800.

Incoming buyers could potentially convert the ground floor for F&B use and the upper floors for alternative uses such as co-living, medical facilities or educational centres, subject to approval from the relevant authorities.

The EOI exercise will close on Nov 8 at 3pm.

Benefiting from the rejuvenation of the immediate vicinity, buyers standing to benefit from the opening of Mondrian Singapore Duxton Hotel and the redevelopment of the former Maxwell House into a residential and commercial mixed-used development – TMW Maxwell.

Latest sales transactions for commercial properties on Tanjong Pagar Road (Source: EdgeProp Research) demonstrate that this is a great time to purchase an already refurbished shophouse in this area.

As such, if you are looking to invest in a property within the Tanjong Pagar Conservation Area, this is an opportunity not to be missed. Don’t forget to submit your expression of interest before Nov 8 at 3pm.