BEAUTIFULLY REFURBISHED CONSERVATION SHOPHOUSE AT THE HEART OF TANJONG PAGAR FOR SALE

Savills Singapore, as the exclusive marketing agent, is proud to offer for sale - 91 Tanjong Pagar Road – a tastefully refurbished conservation shophouse within the bustling Tanjong Pagar enclave.

91 Tanjong Pagar Road is a 3 storey with attic conservation shophouse with a distinctive facade and a rich architectural heritage. The shophouse sits on a land area of approximately1,297 square feet, with an estimated total built up area of approximately 3,842 square feet.

The property has been tastefully refurbished and stands out prominently amongst the neighbouring properties with an unblocked frontage next to a busy T-junction. The interior has been beautifully designed and offers a modern refuge that contrasts yet pairs well with the building’s ornamental exterior. During the refurbishment, the power supply has also been upgraded to support F&B operations on the ground floor. Each floor has a column-free, regular, highly efficient layout with generous ceiling height and an en-suite washroom. The shophouses are also brightly lit as the French windows at the front allow natural light to filter through.

91 Tanjong Pagar Road boasts strong tenant profiles with a renowned wedding jewellery store occupying the ground floor and the upper floor being occupied by an Art & Design Consultancy firm. An incoming buyer can immediately enjoy a robust rental income.

Zoned “Commercial” within the Tanjong Pagar historic conservation area, the property is centrally located and easily accessible with a mere 2-minute walk from Tanjong Pagar MRT and a 5-minute walk to Maxwell MRT.

Located within the Tanjong Pagar F&B and lifestyle enclave, the location has reinvented itself over the years to become a posh locale peppered with distinctive and well-preserved shophouses housing quaint shops and eating places among others. It is one of Singapore’s trendiest destination drawing locals and expats from the prominent commercial and residential landmarks located within the Tanjong Pagar financial district such as Guoco Tower and The Pinnacle at Duxton.

Ms. Sophia Lim, Director, Investment Sales & Capital Markets at Savills Singapore, said: “This is a rare opportunity to purchase a beautifully refurbished conservation shophouse in the heart of Tanjong Pagar. The incoming buyer is poised to benefit from the rejuvenation in the immediate vicinity with the opening of Mondrian Singapore Duxton Hotel, as well as the redevelopment of the former Maxwell House to TMW Maxwell, a residential and commercial mixed used development”.

Ms Lim added: “Buyers can also explore the potential to convert the ground floor to F&B use and the upper floors for alternative uses including co-living, fitness centre, showroom, home
& living, childcare, educational activities and healthcare/medical amongst others, subject to the authorities’ approvals.”

The guide price for 91 Tanjong Pagar Road is $14.6 million, which translates to approximately $3,800 per square foot on the floor area. Foreigners and companies are eligible to purchase the property and no Additional Buyer Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) will be imposed.

The sale will be conducted through an Expression of Interest exercise which closes on Wednesday, 8 November 2023, at 3pm.