Portfolio Of Prized Tras Street Shophouses, At Tanjong Pagar For Sale

The Tras Street Collection consists of three prime 3-storey plus mezzanine shophouses located at 50, 52 and 74 Tras Street. All three shophouses were tastefully refurbished in circa 2020 - 2021 with modern specifications and fittings. The shophouses in the collection all enjoy 100% occupancy with a strong and stable income stream. Restaurant approval has been obtained for the ground floor of 50 and 74 Tras Street, with potential for 52 Tras Street to do the same. 

Salient details of the respective properties in The Tras Collection can be viewed here.

Tras Street, located within the Tanjong Pagar CBD sub-market, is a trendy locale lined with a myriad of popular F&B, retail, and lifestyle offerings. The street has also been dubbed as “The Michelin Strip” as it is home to several Michelin Starred and Michelin Guide Restaurants such as Euphoria, Hamamoto, Terra amongst others.

The Tanjong Pagar vicinity has been earmarked by URA as a major growth precinct, with ongoing rejuvenation taking place. Currently, Tanjong Pagar is in the midst of significant transformation with several large development projects underway, driven by the CBD incentive scheme.

Ms. Yap Hui Yee, Executive Director, Investment Sales & Capital Markets at Savills Singapore says, “The Tras Street Collection presents an opportunity for astute investors to collect a portfolio of tastefully refurbished CBD assets and gain an immediate foothold along Tras Street. Upon the completion of several landmark redevelopment projects such as AXA Tower, Nehsons Building, as well as luxury residential projects including TMX Maxwell, Skywaters, amongst others, the Tanjong Pagar precinct is expected to receive a boost in overall vibrancy. The Tras Street Collection is well-poised to ride on the upcoming rejuvenation and growth story of Tanjong Pagar. 

Ms. Sophia Lim, Director, Investment Sales & Capital Markets at Savills Singapore adds, “On the back of rising freehold or 999-year CBD shophouses calling between $4,500 - $5,500 per square foot rental, investor interest has started to shift to well-located 99-year leasehold CBD shophouses which comparatively offers better value and higher yields. The shophouses in The Tras Street Collection are all 100% leased to stable tenant profiles, with opportunity for potential rental growth and capital upside as the Tanjong Pagar precinct rejuvenates.”

Interested parties may bid for the shophouses in The Collection either individually or collectively via an Expression of Interest exercise. The Collection has a collective guide price at $50.8 million, with the respective guide price for each shophouse as follows:-

• 50 Tras Street: guide price of $15.3 mil
• 52 Tras Street: guide price of $16.13 mil
• 74 Tras Street: guide price of $19.39 mil

As the properties sit on land zoned for ‘Commercial’ use, foreigners and companies are eligible to purchase the properties. There is no Additional Buyer’s Stamp Duty (ABSD) and Seller’s Stamp Duty (SSD) payable.

The EOI exercise will close on 2^nd May 2024, Thursday at 3pm.