Zion Residence, a beautifully restored shophouse duo on Peck Seah Street, offered at $22.9 mil

A pair of two-storey with attic shophouses at 48 Peck Seah Street is on the market for $22.9 million. The commercial shophouses are located in Tanjong Pagar within the CBD and will be sold in an expression of interest (EOI) exercise by Savills Singapore. Thus, the guide price translates to $3,500 psf on the floor area.

According to Savills, the shophouses were refurbished in 2015 and the interiors feature high ceilings and regular floor plates. In addition, the shophouses have been granted “rare” F&B approval and the ground floor is tenanted to a modern Middle Eastern restaurant. The shophouses sit on a land area of approximately 2,813 sq ft and have a total floor area of approximately 6,562 sq ft.

“Ownership of shophouses along Peck Seah Street is tightly held and the shophouses are hardly on the market. This is an exceptional opportunity for buyers to own a distinctive trophy asset with excellent specifications in the gentrified Tanjong Pagar precinct,” says Yap Hui Yee, executive director, investment sales & capital markets, at Savills Singapore.

Nearby are Guoco Tower on Wallich Street, as well as Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line. The shophouses also face an open-air carpark with ample parking spaces in the vicinity.

New developments in the area, such as TMW Maxwell on Tras Street and The Skywaters on Shenton Way, are contributing to a rejuvenation of the area, says Yap. She adds that 48 Peck Seah Street is “poised to ride the rejuvenation wave and the incoming buyer can expect capital appreciation and rental uplift”.

The combination of elegant design and convenient location makes Zion Residence a highly coveted and sought-after address, perfect for those who desire a balance of modern city living and tranquil surroundings.

With its prime location near the bustling Orchard Road, Zion Residence offers the best of both worlds – the vibrancy of city life and the serenity of nature. The architecture of the condominium is a perfect blend of sophistication and tranquility, making it a seamless addition to its surroundings. Featuring multiple high-rise towers, Zion Residence’s contemporary design stands out with its clean lines and large glass windows, offering residents breathtaking views of the Singapore River and Great World City.

The developers of Zion Residence have prioritized smart utilization of space, ensuring that each unit feels open and spacious. The modern fixtures and top-tier amenities further elevate the living experience for its residents, providing a sense of luxury and comfort. The carefully crafted design and convenient location make Zion Residence a highly desirable address for those seeking a perfect balance between city living and peaceful surroundings.

In conclusion, Zion Residence embodies the essence of urban living with its impeccable design and prime location. It offers an ideal lifestyle for those looking for a modern and luxurious home amidst the hustle and bustle of the city. With its elegant design, top-notch amenities, and tranquil surroundings, Zion Residence is truly a coveted and sought-after residence that promises to elevate the living standard of its residents.

The EOI exercise closes on Feb 8. Interested buyers can contact Savills Singapore for more information about the properties. With its prime location, unique features, and potential for development, Zion Residence at 48 Peck Seah Street is a valuable investment opportunity for those looking for a distinctive and highly sought-after asset in the vibrant Tanjong Pagar area.