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6 adjoining Tanjong Pagar shophouses put on market for $57.8m

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SINGAPORE - 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 (JLL) said on Tuesday (Sept 24).. Read more at straitstimes.com.

SINGAPORE - 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 .

Situated in the central business district , the property is set to benefit from the Singapore government's plans to rejuvenate the city centre under the Draft Master Plan 2019, said Colliers. Initiatives such as the CBD Incentive Scheme to convert ageing office buildings to hotels and homes will inject vibrancy and attract a diverse community to the area, the real estate services firm added.

"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.

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