48 Peck Seah Street shophouse comes to market in Tanjong Pagar
Image: Supplied.
  • The shophouses are also in close proximity to major developments, including Guoco Tower.
  • Two MRT stations are also minutes away from the properties.
  • Ownership of shophouses along Peck Seah Street are tightly held and are hardly on the market.

A pair of two-storey shophouses along Peck Seah Street have come to market in the heart of Tanjong Pagar CBD.

Located at number 48, the properties are highly accessible by public transport, within one minute’s walk of the Tanjong Pagar MRT station and three minute’s walk from Maxwell MRT station.

The shophouses are also in close proximity to major developments, including Guoco Tower, along with offices and other amenities. The properties are directly opposite an open-air car park.

“Tanjong Pagar is a major growth area earmarked by URA as Singapore’s business and lifestyle hub in the CBD,” said Savills Singapore executive director, investment sales and capital markets, Yap Hui Yee.

“There are a few upcoming developments in the vicinity such as TMW Maxwell, The Skywaters, and redevelopment of Nehsons Building, that will see an injection of vibrancy in the locale.

“48 Peck Seah Street is poised to ride the rejuvenation wave and the incoming buyer can expect capital appreciation and rental uplift down the road.”

The price guide for 48 Peck Seah Street is $22.9 million, equating to around $3,500 per square foot of floor area.

The list also noted no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) is applicable on the purchase of the unit. Foreigners and companies are eligible to purchase.

“Ownership of shophouses along Peck Seah Street are tightly held and are hardly on the market,” added Yap.

“This is an exceptional opportunity for buyers to own a distinctive trophy asset with excellent specifications in the gentrified Tanjong Pagar precinct. Given the highly desirable attributes of 48 Peck Seah Street, we expect strong interests from both end users such as family offices, investment holding companies; local and foreign investors.”

The expression of interest campaign closes on 8 February 2024.

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