A row of six adjoining conservation shophouses in Tanjong Pagar has been put up for sale at an indicative price of $57.8 million.
The guide price for the units – 48 to 56 Peck Seah Street – works out to about $2,900 per sq ft, based on the existing gross floor area of 19,938 sq ft. The shophouses sit on three separate land lots and have a combined land area of 8,213 sq ft. The site is zoned commercial under the Chinatown (Tanjong Pagar) Historic District Conservation Area in the 2014 Master Plan.
The units, which are owned by a fund managed by Phoenix Property Investors, have a 33m-wide road frontage and are near the Tanjong Pagar MRT station.
The private equity property fund acquired the shophouses in January 2015 for $42.8 million from shipping firm K Line (Singapore).
New projects in the area include Tanjong Pagar Centre, the upcoming Frasers Tower and the redevelopment of CPF Building.