Shophouse at Tanjong Pagar Road for sale at $14.6 mil

For sale: Bukit Pasoh shophouse with guide price of $7.2 mil

An expression of interest (EOI) exercise has been launched for a conservation shophouse located in the Tanjong Pagar Conservation Area. 91 Tanjong Pagar Road comes with a guide price of $14.6 million and is being marketed by Savills.

The three-storey shophouse has an estimated built-up area of 3,842 sq ft and occupies a land area of 1,297 sq ft. This works out to a guide price of $3,800 psf.

This property has been refurbished and each floor has a column-free, regular layout and an ensuite washroom. The EOI exercise will close on Nov 8 at 3pm.

The location is only a two-minute walk from the Tanjong Pagar MRT Station on the East West Line and a five-minute walk from the Maxwell MRT Station on the Thomson-East Coast Line. The new buyer should benefit from the surrounding rejuvenation with the opening of the Mondrian Singapore Duxton Hotel and the redevelopment of the former Maxwell House to a mixed-used development.

Potentially the ground floor could be converted to F&B use while the upper floors could be used for alternative purposes such as co-living, medical facilities and educational centres, subject to approval from the relevant authorities.

Boasting both a pool and gym, the Zion Road Condo provides residents with a wealth of leisure options. Meanwhile, its close proximity to the MRT station, CBD, and shopping malls mean that residents can enjoy seamless access and convenience no matter what lifestyle they pursue.

Recent sales of commercial properties on Tanjong Pagar Road have also been analysed.

It is likely that the incoming buyer could see considerable return from the investment, based on the current market situation of such properties within the area.