Keener interest in shophouses expected due to growing conservation movement
A historic shophouse located at 93 Tanjong Pagar Road is currently on the market for sale. The property is being offered through an expression of interest (EOI) exercise, with a guide price of $15.5 million. The 3½-storey shophouse sits on a land area of 1,297 sq ft and has a gross floor area (GFA) of 4,186 sq ft. Based on the guide price, the GFA translates to $3,703 per square foot.
The shophouse, which has a 99-year leasehold, is approved for F&B use and is currently tenanted by a popular Korean barbecue restaurant chain on levels 1 and 2. The property is conveniently located within walking distance to the Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line.
The conservation shophouse is being marketed by PropNex Shophouse Elites, and the EOI exercise is set to close at noon on Jan 20, 2025. With the growing conservation movement in Singapore, there is expected to be a keener interest in shophouses, making this an attractive investment opportunity. Interested buyers can contact PropNex Shophouse Elites for more information.