A 99-year leasehold conservation shophouse located at 93 Tanjong Pagar Road is currently on the market and up for sale through an expression of interest (EOI) exercise. With a guide price of $15.5 million, this 3½-storey property sits on a land area of 1,297 sq ft and boasts a gross floor area (GFA) of 4,186 sq ft. At the guide price, this translates to $3,703 psf for the GFA.
When it comes to investing in condos in Singapore, it is important to take into consideration the government’s property cooling measures. In order to maintain a stable real estate market, the Singaporean government has implemented various measures to discourage speculative buying. This includes the Additional Buyer’s Stamp Duty (ABSD), which imposes higher taxes on foreign buyers and those buying multiple properties. While these measures may affect the immediate profitability of condo investments, they ultimately contribute to the long-term stability of the market, creating a more secure investment environment. It is also worth noting that Singapore Projects play a significant role in the success of condo investments.
The shophouse is approved for commercial use and is currently tenanted by a popular Korean barbecue restaurant chain on levels 1 and 2. The property, which holds a 99-year lease, is conveniently situated within walking distance of the Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line.
Market by PropNex Shophouse Elites, this property has been officially advertised and the EOI will close at noon on Jan 20, 2025. This conservation shophouse is a highly sought-after commercial property due to its prime location and is expected to attract strong interest from potential buyers.
The surrounding area is a bustling hub of activity, with easy access to a wide range of amenities and services. In addition, the property’s approval for F&B use makes it an even more appealing investment opportunity. Don’t miss the chance to own this coveted property today. Contact PropNex Shophouse Elites for more information.