Two restored shophouses at Tras Street up for sale for $22.6 mil

By
/ EdgeProp Singapore
|
September 26, 2018 4:48 PM SGT
The shophouses in Tras Street are located in the prime Tanjong Pagar precinct (Credit: JLL)
Two restored three-storey conservation shophouses with attic located in Tras Street are up for sale at a total guide price of $22.6 million. This reflects a rate of $2,800 psf based on the total gross floor area of 8,070 sq ft.
The 99-year leasehold shophouses have land areas of 1,298 sq ft and 1,494 sq ft individually, and guide prices of $10.8 million and $11.8 million respectively. The properties can be sold either collectively or individually.
Source: JLL
According to the exclusive marketing agent JLL, the properties were renovated for over $1 million each and are currently fully tenanted. F&B tenants occupy the ground floor for both properties, while the upper floors are leased to a serviced apartment operator.
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The properties sit on land zoned “commercial” under the Tanjong Pagar Conservation Area. Foreigners are eligible to purchase them, with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed.
The shophouses are located in the prime Tanjong Pagar precinct, and are 200 metres from the Tanjong Pagar MRT station on the East-West Line.
The expression of interest exercise will close on Nov 1.
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