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Two conservation shophouses (pictured) at 29 and 31 Tanjong Pagar Road will be sold by auction on 26 February, with DTZ as the sole marketing agent.
Offered on a 99-year lease, the two adjoining four-storey shophouses have a total floor area of about 10,585 sq ft and are both served by a lift and reinforced staircases.
The property has an indicative price of S$17 million to S$18 million and will be sold with existing tenancies.
“The subject property is one of the rare shophouses retrofitted with service lift, and neatly blends a corporate feel into the historic environs of the Chinatown-Tanjong Pagar conservation district, making it suitable as corporate headquarters,” said Shaun Poh, Head of Investment Advisory Services and Auction at DTZ.
“These shophouses are not affected by the Seller’s Stamp Duty, Additional Buyer’s Stamp Duty and loan quantum restrictions introduced through the recent government cooling measures. It is therefore a good alternative income-producing investment.”
The shophouses are ideally located within a tourist, commercial and entertainment enclave. Additionally, it will benefit from the multi-billion dollar revamp of Tanjong Pagar into a waterfront city.
The property is also served by major roads and expressways, and the surrounding area is home to a range of amenities like Tanjong Pagar Plaza and International Plaza. Residential developments like Icon, Altez and the upcoming Eon Shenton and Skysuites@Anson are also nearby.
Romesh Navaratnarajah, Senior Editor of PropertyGuru, wrote this story. To contact him about this or other stories email romesh@propertyguru.com.sg
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