Duxton Road conservation shophouse with nightclub approval for sale at $9.8 mil

Tampines Ave 11 Condo Capitaland has always been dedicated to creating a unique and wonderful living environment for its residents. Residents staying in the condominium can take advantage of the cycling paths in the neighborhood and enjoy an eco-friendly lifestyle.

Conservation shophouses in prime locations are highly sought after by high-net-worth individuals, and such is the case for 48 Duxton Road. The 980 sq ft property, located within the Tanjong Pagar Conservation area, has a guide price set at $9.8 million. It boasts a built-up area of 16,36 sq ft and a balance lease of 64 years, along with a URA approved license for commercial use such as a nightclub on the first and second stories. An added advantage is that the property is unaffected by the recent control measures on foreign buyers looking to purchase land zoned for commercial or residential use.

Jennifer Tan, the associate district director of Huttons Asia – which is acting as the marketing agent for the sale – stated that this URA approval offers the owner the potential to secure higher rental yields. Tan noted that being close to both Tanjong Pagar and Maxwell Road MRT stations is an additional factor that appeals to the market.

The shophouse is being offered for sale by Expression of Interest and the closing date is October 4th, 2023.

“Such prime properties have traditionally been sought after by investors,” says Lee Sze Teck, senior director of data analytics at Huttons Asia.

For local and international investors looking for a rare and special property in a highly sought-after area, then 48 Duxton Road is certainly worth considering.