Four-storey amalgamated shophouses at Duxton Road on sale for $55 million
Three amalgamated shophouses on the street of Duxton are put up for sale at a price tag of $55 million. Located on a corner plot, the four-and-a-half-storey conservation shophouses sit on a 4,160 sq ft site zoned “commercial” under the 2019 Master Plan.
the Tanjong Pagar conservation shophouses have a 99-year lease tenure from 1989. Hence, they have remaining lease of 65 years. Cushman & Wakefield is the official marketing agent for the shophouses, which will be sold by an expression of interest exercise that will close on July 20.
The shophouses went through a thorough renovation in 2K13 that saw the addition of new engineering structures and electrical fixtures, the installation of an internal lift and new specifications. Over the previous few years, the exterior has been repainted. The lift has also been timely maintained and serviced.
located near three railway stations: the Tanjong Pagar MRT station on the East-West Line, the Maxwell MRT station on the Thomson-East Coast Line and the Outram MRT interchange station (for the East-West, North-East and Thomson-East Coast Lines), the Tanjong Pagar shophouses are well-connected.
The vibrant F&B and cultural scene of The Duxton Road neighbourhood is characterised by and the area is also a famous locale for tourists and business travellers given its easy access to the CBD, civic district, transportation, and luxurious F&B establishments.
As the shophouses occupy a corner lot on Duxton Road, the south-facing wall of the shophouse is visible from Craig Road and Duxton Road. “This is an opportunity to turn it into a striking feature wall with street art or advertising,” says Poh. “It is an opportunity to create a statement piece for the neighbourhood or a potential advertising revenue stream.”
He adds: “It is rare to find a corner shophouse in the Duxton Road/Tanjong Pagar area that is prominently located and well maintained.” He adds that there are fewer than 20 such corner shophouses in the area.
There are several high-rated hotels such as Amara Singapore, Carlton City, Oasia Hotel Downtown, Sofitel Singapore City Centre, Maxwell Reserve and Duxton Reserve. The launch of the first Mondrian-branded hotel in Southeast Asia at 16A Duxton Hill will further add to the locale’s hospitality offerings and desirability.
