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The set of shophouses have a land area of 1,976 sq feet and an current floor area of approximately 4,090 sq feet, such as an outdoor refreshment area (ORA). A loft might also be additional, subject to the approval of government.
Presently, the shophouses are fully rented to a pub, LUKA, along with a Western skincare studio SONA. They confront Trapeze Rec Club, a brand new 8,000 sq feet fitness and health club.
“The tenure of this shophouses is 99 years with effect from 2000, meaning they’re younger than the vast majority of those Tanjong Pagar Road shophouses which are 99-year leasehold starting from between 1988 and 1994,” states Loyalle Chin, senior associate division manager of PropNex Realty.
Chin also adds it is uncommon to see whole F&B accepted shophouses with a youthful lease accessible Tanjong Pagar, which includes numerous pubs restaurants and lifestyle amenities. He considers the set of shophouses will bring both local and global shophouse investors.
The properties are surrounded by hospitality and office improvements, such as the revamped Maxwell Reserve and forthcoming mixed-use advancement at the former Chinatown Plaza. Furthermore, they are inside a seven-minute walk into Tanjong Pagar MRT Station plus a two-minute walk into Maxwell MRT Station, which will be opening in the end of 2021.
PropNex Realty is only marketing the properties.