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Tanjong Pagar Shophouse

$38,000,000
  • Listing type: For Sale
  • Plot Size 10,686
  • Property type:

Property Description

Tanjong Pagar Shophouse
2 adjoining 4.5 storey shophouses
99 years from 1994
Land: 3,010 sqft estimated
Built-up: 10,686 sqft estimated
Fully tenanted at average of $76.9k/month
Price: $38mil

This pair of four and a half-storey conservation shophouses sits amidst a row of 15-unit 4-storey prewar Art Deco shophouses, flanked by Murray Street and Cook Street and near the upcoming Maxwell MRT and existing Tanjong Pagar MRT stations. The block is adjoined with the 14-unit 3-storey Murray Terrace at the back, which once housed Murray Street Food Alley.

This Art Deco style row has been refurbished by its previous owners to achieve a consistent décor that uplifts the entire street’s profile, with restorations such as fair-faced brick lining the façades.

These shophouses, built in the late 1920s, were previously owned by the notable Mr. Syed Shaik bin Abdulrahman Alkaff, proprietor of Messrs Alkaff and Co. The renowned Alkaff family was one of the wealthiest private landowners in Singapore at that time.

Tanjong Pagar, home to the site of Singapore’s pilot restoration project, is a historical and culturally-rich district, with a vibrant mix of cultural, retail and residential developments now, evolving to become an integral part of Singapore’s Central Business District. Its locational advantage is increasingly relevant, as the government has plans to transform the area into a space three times the size of Marina Bay (as part of the Greater Southern Waterfront project) by 2030.

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