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 via an expression of interest (EOI) exercise with a guide price of $14.6 million. This three-storey shophouse, with an attic, has an estimated built-up area of 3,842 sq ft and occupies a land area of 1,297 sq ft zoned for commercial use.
Savills, the exclusive marketing agent for the property, says it has already undergone refurbishment. Each of the floors has a column-free, regular layout and an ensuite washroom.
It is a two-minute walk from the Tanjong Pagar MRT Station on the East West Line, and five-minutes from the Maxwell MRT Station on the Thomson-East Coast Line.
The estimated guide price of $3,800 psf is an attractive proposition, especially given the recent activity taking place in the area. The Mondrian Singapore Duxton Hotel has opened and the former Maxwell House will be redeveloped into TMW Maxwell, a residential and commercial mixed-used development.
According to Sophia Lim, director of investment sales and capital markets at Savills Singapore, the buyer of the property could potentially convert the ground floor for F&B use, and the upper floors for alternative uses such as co-living, medical facilities, and educational centres – subject to approval from the authorities.
For residents looking to indulge in a little recreational activity, Senja Close EC Bukit Panjang is minutes away from the Bukit Panjang Plaza. The development is also close to schools like Bukit Panjang Government High School and South View Primary School.
Residents of Senja Close EC Bukit Panjang can enjoy excellent amenities, such as a clubhouse, a reflexology path, a barbecue area, a swimming pool and a gym. Other facilities include a playground, a tennis court, a basketball court, a carpark and a guard house. The convenience and enjoyable environment of Senja Close EC Bukit Panjang make it a truly desirable residential estate.
The EOI exercise for the property will close on 8th November, at 3pm. With such a generous price guide and its sought-after location, the property is expected to generate keen interest.
Recent sales transactions for other commercial properties on Tanjong Pagar Road include a shophouse with hotel and restaurant tenants, on the market for $35 million, and another shophouse on Circular Road available for $19.8 million.