Three pairs of shophouses in Tanjong Pagar for sale at $57.82 mil

By Charlene Chin
/ EdgeProp Singapore |
September 25, 2019 11:01 PM SGT
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SINGAPORE (EDGEPROP) - A row of three contiguous pairs of conservation shophouses in Tanjong Pagar is up for sale with an indicative guide price of $57.82 million. This works out to $2,900 psf based on the total existing gross floor area of 19,938 sq ft.
Located at 48 to 56 Peck Seah Street, in the Chinatown (Tanjong Pagar) Historic District Conservation Area in the CBD, the six conservation shophouses sit on three separate land lots and have a combined land area of 8,213 sq ft. They come with attic and a 33m street frontage on to Peck Seah Street.
Peck Seah Street Shophouse
The row of shophouses for sale (Photo: Colliers International)
The site on which the property sits is zoned “Commercial’ under the Draft Master Plan 2019 and it has a leasehold tenure of 99 years with effect from May 1994. The shophouses have existing tenancies and the majority of the space has been leased to kitchen and bathware brand Kohler, and the Fat Prince restaurant.
The shophouses can be sold either individually or collectively, and are jointly marketed by Colliers International and JLL. Due to the commercial use zoning, the additional buyer’s stamp duty (ABSD) and seller’s stamp duty (SSD) are not applicable.
The expression of interest exercise will close at 3pm on Oct 23.
For price trends, recent transactions, other project info, check out the Peck Seah Street project research page
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