A three-storey conservation shophouse on Craig Road is up for sale by expression of interest (EOI). CBRE is the marketing agent. The shophouse sits on a land area of 1,654 sq ft with a 99-year lease from 1988, with a floor area of 4,900 sq ft.

The property sits within the Tanjong Pagar Conservation Area in the CBD, District 2 and was extensively refurbished in 2018 by TA.LE Architects. The unit has generous floor-to-ceiling height and an air well that maximises natural light.

The ground floor has permanent approval for restaurant use and is currently leased to Daejim, a traditional Korean BBQ restaurant. The upper floors are leased as offices. Hence, the shophouse is fully leased, “which ensures stable and immediate rental income for the incoming investor”, says Clemence Lee, executive director of capital markets at CBRE.

The shophouse has a guide price of $15.68 million, or $3,200 psf based on floor area.

Based on caveats lodged, the shophouse at 4 Craig Road last changed hands in 2016 for $10.8 million.

Article written by Edgeprop Singapore published March 2024.

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