Agent.sg / Property news / 6 adjoining Tanjong Pagar shophouses put on market for S$57.8m

6 adjoining Tanjong Pagar shophouses put on market for S$57.8m

A ROW of six adjoining shophouses in Tanjong Pagar have been launched for sale, either individually or collectively, via an expression of interest exercise, joint marketing agents Colliers International and Jones Lang Lasalle Singapore (JLL) said on Tuesday.

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Located at 48 to 56 Peck Seah Street, the three pairs of two-storey conservation shophouses with attic sit on three separate land lots with a combined land area of 8,213 square feet (sq ft).

6 adjoining Tanjong Pagar shophouses put on market for S$57.8m

They have a total indicative value of S$57.82 million, which works out to about S$2,900 per square foot (psf) based on the total existing gross floor area of 19,938 sq ft.

Situated in the central business district (CBD), the property is set to benefit from the Singapore government’s plans to rejuvenate the city centre under the Draft Master Plan 2019, said Colliers. Initiatives such as the CBD Incentive Scheme to convert ageing office buildings to hotels and homes will inject vibrancy and attract a diverse community to the area, the real estate services firm added.

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