Two Tanjong Pagar shophouses up for sale at $22.6m

They both have 100% occupancy rates.

Two conservation shophouses in Tanjong Pagar are being sold for $22.6m, JLL revealed.

With a combined land area of 2,792 sq ft, both shophouses have a commercial zoning. They also have a combined gross floor area of 8,070 sq ft.

Both shophouses are a mere 200-metre away from the Tanjong Pagar MRT station. Located within the Central Business District (CBD), the site also enjoys access to other parts of Singapore via Ayer Rajah Expressway (AYE), Marina Coastal Expressway (MCE) and Central Expressway (CTE).

According to JLL, the properties have undergone extensive renovation of over $1m and are enjoying a 100% occupancy rate. Their ground floors are leased to F&B tenants whilst the upper floors are leased to a serviced apartment operator which offers accommodation to expatriates and business travellers for long-term stay.

The price of the property translates to a $2,800 psf on GFA. They can be sold collectively or individually.

The properties will be marketed through an Expression of Interest exercise which closes on 1 November at 3pm.