Commercial shophouse on Tras Street priced from $15.2 mil
By Nicholas Lam
/ EdgeProp Singapore |
Several Michelin-starred restaurants, such as Euphoria and Terra, can be found along Tras Street. (Credit: PropNex Singapore)
A three-storey commercial shophouse at 71 Tras Street has been put up for sale by tender, with the price starting at $15.2 million.
According to PropNex, the property has a land area of 1,684 sq ft and a built-up area of approximately 4,606 sq ft. Thus, the starting indicative price translates to $3,300 psf on the floor area.
The conservation shophouse is located in Tanjong Pagar and is served by two MRT stations – Tanjong Pagar on the East-West Line, and Maxwell on the Thomson-East Coast Line. Several Michelin-starred restaurants, such as Euphoria and Terra, can be found along Tras Street, and the shophouse is close to Guoco Tower on Wallich Street.
The commercial shophouse will be sold with existing tenancies. Current tenants include a chiropractic clinic on the first floor, with retail and office spaces leased on the upper floors. According to marketing agent Loyalle Chin, the property has a rental yield of 2.5%.
The shophouse at 71 Tras Street is located in the Tanjong Pagar Conservation Area. (Map: EdgeProp Singapore)
“It is extremely rare to collect an enticing 2.5% rental yield commercial asset... making this one of the most compelling shophouse offers in the market,” says Chin, who is director of PropNex ShophouseHuat, a division under PropNex Realty.
He adds: “71 Tras Street presents an appealing opportunity for investors to acquire a prime CBD shophouse with immediate rental yield.”
No additional buyer’s stamp duty is payable on the sale of the shophouse, and foreigners and corporate entities are eligible to purchase this property.
The tender exercise closes on Feb 28.
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