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Located on 39 and 40 Duxton Road and within the Tanjong Pagar conservation area, the shophouses are around 550 m from the Tanjong Pagar MRT station and are near the upcoming Maxwell MRT Station (Image Source: Lush Home Media)
A pair of conservation shophouses located in Duxton Hill, Tanjong Pagar has been put up for sale via expression of interest (EOI) by JLL with an S$11 million guide price, that works out to around S$2,800 per square foot on the estimated gross floor area, reported The Business Times.
The property has a combined land area measuring 2,161 sq ft with a built-up area of around 3,929 sq ft and sits on a site zoned commercial under the 2019 Draft Master Plan.
Located on 39 and 40 Duxton Road and within the Tanjong Pagar conservation area, the shophouses are around 550 m from the Tanjong Pagar MRT station and are near the upcoming Maxwell MRT Station.
“39 and 40 Duxton Road presents an excellent opportunity for investors to acquire an asset in the highly sought-after Duxton Hill locale,” said Clemence Lee, JLL senior director of capital markets.
“Its multitude of offerings from fine dining restaurants, bustling bars, trendy retail boutiques to upscale fitness gyms and studios makes for a captivating and popular go-to spot for both visitors and locals.”
With the Tanjong Pagar area undergoing rejuvenation, JLL believes that new developments such as the Frasers Tower, new Maxwell Chambers, and Tanjong Pagar Centre will provide growth to the area and ensure the locale’s status as a key lifestyle and commercial hub.
As the shophouses are on land zoned commercial, foreigners are eligible as purchasers of the property. There is also no seller’s stamp duty or additional buyer’s stamp duty imposed on the sale of the property.
The EOI exercise for the 39 and 40 Duxton Road shophouses closes on 6 November.
Laveesh Hassija at PropertyGuru, edited this story. To contact him about this or other stories, email laveesh@propertyguru.com.sg
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