20 Apr '17, 3am

Due to its rarity, contiguous row of shophouses are highly sought after by investors. #realestate #singaporeproperty

Due to its rarity, contiguous row of shophouses are highly sought after by investors. #realestate #singaporeproperty

A row of six adjoining conservation shophouses in Tanjong Pagar has been put up for sale via expression of interest for an indicative price of S$57.8 million. Marketing agent JLL said n Wednesday (19 April) that the guide price for the six units - 48 to 56 Peck Seah Street - works out to about S$2,900 per square foot on the existing gross floor area of 19,938 sq ft. The shophouses, which are owned by a private equity fund, have a 33-metre wide main road frontage and are near the Tanjong Pagar MRT station. JLL noted that the property had been refurbished at a cost of S$2 million in September 2015. "Due to its rarity, contiguous row of shophouses are highly sought after by investors and are typically traded at a premium as compared to a single shophouse. We anticipate strong interest from astute end-users and investors such as boutique real estate funds, family offices and h...

Full article: https://www.srx.com.sg/singapore-property-news/35902/6-co...

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