By Charlene Chin/ EdgeProp Singapore|January 8, 2020 2:21 PM SGT
Both shophouses are 260m from Tanjong Pagar MRT station, and are currently leased to f&b operators on the ground floor and SOHO users on the upper floors (Credit: CBRE)
SINGAPORE (EDGEPROP) – Two 3-storey conservation shophouses along Tras Street are up for sale, at guide prices of $12 million and $10.8 million respectively, or $2,800 psf based on the total floor area of each shophouse. The larger shophouse unit occupies a site of about 1,494 sq ft and has a total floor area of about 4,257 sq ft. Located across the street, the smaller unit occupies a site of about 1,298 sq ft and has a total floor area of about 3,852 sq ft. Both shophouses have a 99-year leasehold tenure and are zoned for commercial use in the Chinatown-Tanjong Pagar Conservation Area, under URA’s 2019 Master Plan.
Both shophouses are 260m away from Tanjong Pagar MRT Station, and are currently leased to F&B operators on the ground floor and SOHO users on the upper floors.“On the back of rising prices of 999-year or freehold CBD shophouses that have been transacting between $3,500 per sq ft and $4,000 per sq ft on total floor area in the past year, we have started to observe investors’ interest shifting to well-located, 99-year leasehold shophouses which are believed to offer better value and higher yields,” says Clemence Lee, senior director of capital markets at CBRE, which is marketing the properties. The expression of interest exercise will close on Feb 12 at 3pm.
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