# Three Tanjong Pagar conservation shophouses up for sale at $43 mil

- **Source:** EdgeProp Singapore
- **Published:** 2026-10-22T09:13:24.000Z
- **Author:** Cecilia Chow
- **Original:** https://www.edgeprop.sg/property-news/three-tanjong-pagar-conservation-shophouses-sale-43-mil
- **Topics:** Commercial & Industrial, Transactions & Deals

## Featured rationale

Their scarcity, full occupancy and recurring rental income may support investor interest, while foreign-buyer eligibility and no ABSD could broaden the potential buyer pool.

## AI summary

Three conservation shophouses on Tanjong Pagar Road are offered at $43 million, or $3,800 psf, a 35.2% premium over their 2021 acquisition cost.

## Original article

A portfolio of three conservation shophouses at 83, 91 and 97 Tanjong Pagar Road has been put up for sale at a combined guide price of $43 million, or about $3,800 psf based on their total floor area.

Located within the Tanjong Pagar Conservation Area in District 2, the three commercially zoned shophouses have a combined land area of approximately 4,022 sq ft and a total floor area of 11,306 sq ft.

Both 83 and 91 Tanjong Pagar Road are three-storey conservation shophouses with attics, while 97 Tanjong Pagar Road is a two-storey shophouse with an attic.

Read also: Freehold Telok Ayer Street conservation shophouse hits the market at $23.76 mil

The guide prices for 83 and 91 Tanjong Pagar Road are $14.5 million each, while 97 Tanjong Pagar Road has a guide price of $14 million.

The seller, Strathmore Management, acquired the three shophouses in separate transactions in 2021, based on caveats lodged.

Strathmore purchased 91 Tanjong Pagar Road for $10.5 million in May 2021, followed by 97 Tanjong Pagar Road for $10 million in September and 83 Tanjong Pagar Road for $11.3 million in October that year.

The combined purchase price was $31.8 million, compared with the current guide price of $43 million, representing a premium of 35.2% over the acquisition cost five years ago.

All three shophouses are on 99-year leases commencing in 1992, with approximately 65 years remaining. They are fully tenanted to a mix of established F&B, retail, lifestyle and wellness operators, as well as professional services firms.

At 91 Tanjong Pagar Road, the ground floor is occupied by bespoke jewellery retailer Michael Trio, while Korean fusion restaurant Kream Korea occupies the ground floor of 83 Tanjong Pagar Road. The ground-floor tenant at 97 Tanjong Pagar Road is Peranakan restaurant Blue Ginger.

Read also: Rare trio of conservation shophouses in Serangoon up for sale at $33 mil

According to CBRE, several of the tenants are long-standing occupiers, providing recurring rental income for prospective buyers.

Once known for traditional businesses and bridal shops, Tanjong Pagar has evolved into a bustling dining and lifestyle destination, with an eclectic mix of restaurants, cafés, bars, and speciality retailers. The precinct also benefits from the working population of nearby office developments such as Guoco Tower, International Plaza and Frasers Tower.

"Conservation shophouses in Tanjong Pagar are tightly held and seldom come to market, let alone three at once with prime frontage along Tanjong Pagar Road," says Clemence Lee, executive director of capital markets, Singapore, at CBRE.

He adds that the properties are well maintained and fully occupied, offering investors immediate rental income with minimal leasing risk.

The shophouses are within a 10-minute walk of Tanjong Pagar, Maxwell and Outram Park MRT stations. As commercially zoned properties, they are open to foreign buyers and companies, with no additional buyer's stamp duty (ABSD) payable.

CBRE is marketing the three properties through an expression of interest (EOI) exercise, which closes on Nov 26 at 3pm. Buyers can submit offers for the entire portfolio or individual shophouses.

Read also: Two office floors at Springleaf Tower offered for sale with $54.15 mil price tag

Check out the latest listings for Tanjong Pagar, District 2 properties

## Chinese translation

> Translation model: grok_cli

### 丹戎巴葛三栋保育店屋以新元4300万元挂售

这三栋保育店屋的新元4300万元指导价，按总楼面面积计算相当于每平方英尺新元3800元。

位于丹戎巴葛路83号、91号和97号的三栋保育店屋组合，已以合计指导价新元4300万元挂售，按总楼面面积计算约合每平方英尺新元3800元。

这三栋商业区划店屋位于第2区的丹戎巴葛保育区内，合计地面积约4022平方英尺，总楼面面积为1万1306平方英尺。

丹戎巴葛路83号和91号均为带阁楼的三层保育店屋，丹戎巴葛路97号则为带阁楼的两层店屋。

延伸阅读：直落亚逸街一栋永久地契保育店屋以新元2376万元入市

丹戎巴葛路83号和91号的指导价各为新元1450万元，丹戎巴葛路97号的指导价为新元1400万元。

根据已登记的买卖契约通知，卖方Strathmore Management于2021年分笔购入这三栋店屋。

Strathmore于2021年5月以新元1050万元购入丹戎巴葛路91号，随后于同年9月以新元1000万元购入丹戎巴葛路97号，并于10月以新元1130万元购入丹戎巴葛路83号。

合计购入价为新元3180万元，对照目前新元4300万元的指导价，相当于较五年前收购成本溢价35.2%。

三栋店屋均为1992年起计的99年地契，剩余年限约65年。目前全部租出，租户涵盖成熟的餐饮、零售、生活方式与康体业者，以及专业服务公司。

丹戎巴葛路91号一楼由定制珠宝零售商Michael Trio承租，丹戎巴葛路83号一楼则为韩式融合餐厅Kream Korea。丹戎巴葛路97号的一楼租户是娘惹餐厅Blue Ginger。

延伸阅读：实龙岗罕见三栋保育店屋以新元3300万元挂售

据世邦魏理仕（CBRE）称，部分租户为长期承租人，可为潜在买家提供经常性租金收入。

丹戎巴葛昔日以传统商铺和婚纱店闻名，现已演变为热闹的餐饮与生活方式目的地，汇集各类餐厅、咖啡馆、酒吧和特色零售商。该区域也受惠于附近办公项目的就业人口，包括国浩大厦（Guoco Tower）、国际广场（International Plaza）和丰树大厦（Frasers Tower）。

世邦魏理仕新加坡资本市场执行董事Clemence Lee表示：“丹戎巴葛的保育店屋持有集中、极少流入市场，更遑论一次同时推出三栋、且沿丹戎巴葛路拥有黄金临街面的物业。”

他补充说，这些物业保养良好、全部租出，可为投资者提供即期租金收入，租赁风险较低。

这些店屋步行10分钟内可抵达丹戎巴葛、麦士威和欧南园地铁站。作为商业区划物业，外国买家和公司均可购买，无需缴纳额外买方印花税（ABSD）。

世邦魏理仕正通过意向书（EOI）程序推销这三处物业，截止日期为11月26日下午3时。买家可就整组组合或个别店屋提交报价。

延伸阅读：绿叶大厦（Springleaf Tower）两层办公楼以新元5415万元挂售

查看丹戎巴葛、第2区物业的最新挂牌