Both storeys of the shophouse pair are fully leased out to a contemporary Italian-Japanese restaurant

Pair of shophouses at 16 & 18 Tanjong Pagar Road up for sale at $15m

SINGAPORE – A set of shophouses at 16 and 18 Tanjong Pagar Roadway has been offered through an expression of rate of interest (EOI) exercise with an overview cost of $15 million, exclusive advertising representative PropNex Realty claimed on Wednesday.

The shophouse set spans a land area of 1,976 sq ft as well as has a gross flooring area (GFA) of about 4,090 sq ft, which includes an exterior beverage area. In its press statement, PropNex highlighted the possibility to increase the home’s GFA via the addition of an attic, based on approval.

Both floors of the shophouse pair are completely leased bent on a modern Italian-Japanese dining establishment. A part of the 2nd storey is leased to a Japanese skincare workshop.

The shophouse set, authorized for food and also drink, is zoned full commercial under the Urban Redevelopment Authority Master Plan 2019. This implies it is qualified for purchase by immigrants without needing to sustain the additional purchaser’s stamp task or vendor’s stamp duty.

Its period is 99 years with effect from 2000, which PropNex said is more youthful than most of Tanjong Pagar shophouses, with their leaseholds starting in between 1988 well as 1994. Therefore, PropNex associate department supervisor Loyalle Chin claimed she thinks about the sale as an “attractive investment play to global as well as regional shophouse financiers”.

The residential or commercial property is a two-minute walking range from the upcoming Maxwell MRT station, Parc Central Residences, due to open up at the end-2021, so you can also know about the Parc Central Residences Floor Plan and Parc Central Residences Price. It is additionally situated straight next to Jinrikisha Station, a historic site at the joint of Tanjong Pagar Roadway and also Maxwell Roadway had by Hong Kong star Jackie Chan.

Other new workplace and hospitality developments bordering the property consist of Maxwell Chambers Suites, the revamped Maxwell Reserve, and also the upcoming mixed-use advancement at the previous Chinatown Plaza website.

The EOI workout for 16 as well as 18 Tanjong Pagar Road will close on May 6, 2021, at 3 pm.

Due to COVID 19, Forett at Bukit Timah Showflat is open for online booking. You can now register online to receive direct developer discount offers and prices.