Photo of 39 Tras Street (Source: Huttons Asia)
A 3.5 storey conservation shophouse at 39 Tras Street has been launched for sale via an Expression of Interest (EOI) exercise.
The guide price for the property at $16.8 million is competitively positioned in the shophouse market.
It has a land area of approximately 1,464 sq ft and a floor area of approximately 4,359 sq ft.
The luxuriously renovated shophouse is strategically located in the vibrant Tanjong Pagar precinct, within a 5 minutes’ walk to Tanjong Pagar MRT Station and Maxwell MRT Station, providing seamless connectivity.
According to Jeremy Lim, Executive Group District Director at Huttons Asia, “This trophy asset is at one of the best locations among all conservation shophouses in Singapore. It is appealing to F&B operators due to the high human traffic from not only tourists but also locals who work in the CBD.”
“The owner has spent more than $1.5 million on its renovation and it is fully occupied by a high-end Japanese omakase restaurant, Hiryu. The famous Japanese restaurant is popular among locals, high net worth individuals as well as celebrities and famous sportsmen all over the world. Recent transactions, such as the high-profile purchase of three adjoining 99-year leasehold shophouses along Duxton Road for an estimated $45 – $50 million reiterate the growing appetite for prime shophouse assets in Singapore”, said Jesmond Lee, Managing Director of Everton Estate Pte Ltd.
Lee Sze Teck, Senior Director of Data Analytics at Huttons Asia added that investors believe that shophouses have the ability to preserve wealth and are resilient due to its scarcity. The cuts in interest rates in the last quarter of 2024 will translate into lower borrowing costs and positive carry for some shophouses, increasing their appeal.
The property is zoned as commercial by URA thus it is exempted from Additional Buyer’s Stamp Duty (ABSD) and foreigners are eligible to purchase.
The expression of interest (EOI) exercise ends 26 March 2025 at 3pm.
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For further information, please contact:
Jeremy Lim, Associate Executive Group District Director, R017809A
Tel: +65 8858 1212 | [email protected]
Huttons Asia Pte Ltd (Licence No: L3008899K)
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