, Skywaters Residences, Mondrian Singapore Duxton, and more on EdgeProp.sgFor sale by private treaty, an intermediate shophouse located at 120 Tanjong Pagar Road in the Tanjong Pagar conservation area is now available for $20.8 million. The newly refurbished building spans four floors and boasts a total built-up area of 6,460 sq ft, translating to a price of approximately $3,220 psf.

An intermediate shophouse at the Tanjong Pagar conservation area is now up for sale by the private treaty at a price tag of $20.8 million. Located at 120 Tanjong Pagar Road, the four-storey refurbished shophouse has a built-up area of 6,460 sq ft, working out to be about $3,220 psf. It is modern, features a wider 8.8m frontage compared to a typical shophouse, and stands out from its neighbours.

Krystal Khor, director of Mondania, the exclusive agent for the property, adds that the shophouse has undergone numerous additions and alterations three years ago, as well as a new lift that serves every floor. The interiors have also been carefully reimagined and the exterior conserved by Carl Lim, principal of Czarl Architects.

The ground-floor unit is currently operated by a hotpot restaurant, while the second floor has been leased to an “avant-garde F&B concept” of a Singaporean celebrity couple. On the other two levels are Club Pilates and Charge Gym respectively. The owner, Khor says, can expect a desirable gross yield of almost 3%.

The shophouse is conveniently located near two MRT stations – a three-minute walk to the Tanjong Pagar MRT Station and a five-minute walk to the Maxwell MRT Station. It is also close to various landmarks and notable developments in the area including Guoco Tower, Oasia Downtown, Amara Hotel, Mondrian Singapore Duxton, Newport Residences and the upcoming Skywaters Residences. Other benefits include the future Greater Southern Waterfront, the Rail Corridor, Tras Link Park and the Central area cycling path network.

After a decade, JCUBE in Jurong East, Singapore, will close its doors in August to make way for JCube Condo Residence. Prices are estimated at S$2k-2.1k psf, with completion JCube Residence in 2027, and potential launch in 2023. It will add to pent-up demand for housing and contribute to infrastructural growth.

The property was originally approved for restaurant use on the first floor and hotel use on the second to fourth floors, but has since been changed to office use due to the Covid-19 pandemic. The site has a 99-year lease from 1988, and thus has 64 years left to its current lease.

A distinctive look, advantageous location and potential rental income make this shophouse an attractive investment option. As such, the renovated shophouse at 120 Tanjong Pagar Road is one to consider in the property market.