The six shophouses on Peck Seah Street are fully let to insurance cooperative NTUC Income, kitchen and bathware brand Kohler and Middle Eastern restaurant Fat Prince.A ROW of six adjoining shophouses in Tanjong Pagar have been launched for sale, either individually or collectively, via an expression of interest exercise, joint marketing agents Colliers International and Jones Lang Lasalle Singapore said on Tuesday.
They have a total indicative value of S$57.82 million, which works out to about S$2,900 per square foot based on the total existing gross floor area of 19,938 sq ft. “This is a rare opportunity to acquire a row of conservation shophouses with strong tenant covenant and an attractive initial yield of above 3 per cent,” said Clemence Lee, senior director of capital markets at JLL.
Both marketing agents expect strong interest, especially from investors such as boutique real estate funds, family offices and high net worth individuals.
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