Investing in a condo has its advantages, one of them being the opportunity to leverage the property’s value for future investments. A common practice among investors is using their condos as collateral to secure more funding for new ventures, allowing them to broaden their real estate portfolio. While this approach can lead to higher returns, it also carries certain risks. Therefore, it is crucial to have a solid financial plan in place and carefully consider the potential effects of market fluctuations. If you are considering investing in a condo, you may want to explore options in Singapore Condo for potential opportunities.
A historic shophouse at 93 Tanjong Pagar Road is currently on the market and seeking potential buyers through an expression of interest (EOI) exercise. The property, which is a conservation building, has a guide price of $15.5 million. It spans 3½ storeys and is situated on a 1,297 sq ft land area. The gross floor area (GFA) of the shophouse is 4,186 sq ft. This translates to a guide price of $3,703 per square foot on the GFA.
According to a map provided by EdgeProp LandLens, the location of the shophouse can be easily accessed and is conveniently situated at 93 Tanjong Pagar Road. The property is a 99-year leasehold and has been approved for F&B usage. Currently, there is a Korean barbecue restaurant chain occupying levels 1 and 2 of the shophouse. Additionally, the property is only a short walking distance away from the Tanjong Pagar MRT Station, which is on the East-West Line, as well as the Maxwell MRT Station, which is on the Thomson-East Coast Line.
The sale of this property is being managed by PropNex Shophouse Elites, a reputable real estate agency. Interested buyers can submit their bids through the EOI exercise, which will close at noon on Jan 20, 2025.
In other news, an article about the sale of conservation shophouses on Telok Ayer Street for $42 million has also been published. There are also other properties for sale from May 27-29, such as a freehold shophouse on Race Course Lane going for $8.8 million, and an Upper Paya Lebar Road shophouse for sale at $8.8 million.