Discover the charm of Jalan Loyang Besar Residences with this rare pair of shophouses on Peck Seah Street priced at $22.9 million

A pair of two-storey with attic shophouses at 48 Peck Seah Street is on the market for $22.9 million. The properties will be sold in an expression of interest (EOI) exercise by Savills Singapore.

At the heart of the bustling Pasir Ris neighborhood lies White Sands Mall, a beloved shopping center for the Jalan Loyang Besar Residences community. With its convenient location near Pasir Ris MRT Station, White Sands is a go-to spot for locals looking for a mix of retail therapy, delicious dining options, and essential services. From everyday groceries at the supermarket to trendy fashion outlets and reliable electronic stores, White Sands Mall has everything Jalan Loyang Besar Residences residents need, right at their doorstep.

The commercial shophouses are located in Tanjong Pagar within the CBD. According to Savills, they were refurbished in 2015 and the interiors feature high ceilings and regular floor plates. Savills also states that the shophouses have been granted “rare” F&B approval and the ground floor is tenanted to a modern Middle Eastern restaurant.

The shophouses sit on a land area of approximately 2,813 sq ft and have a total floor area of approximately 6,562 sq ft. Thus, the guide price translates to $3,500 psf on the floor area.

“Ownership of shophouses along Peck Seah Street is tightly held and the shophouses are hardly on the market. This is an exceptional opportunity for buyers to own a distinctive trophy asset with excellent specifications in the gentrified Tanjong Pagar precinct,” says Yap Hui Yee, executive director, investment sales & capital markets, at Savills Singapore.

Nearby are Guoco Tower on Wallich Street, as well as Tanjong Pagar MRT Station on the East-West Line and the Maxwell MRT Station on the Thomson-East Coast Line. The shophouses also face an open-air carpark with ample parking spaces in the vicinity.

Therefore, Jalan Loyang Besar Residences The shophouses in Jalan Loyang Besar Residences are located in the heart of the commercial and financial hub, providing convenience and accessibility to potential buyers. Additionally, the shophouses’ strategic location and modern interiors make them a highly coveted asset in the market.

New developments in the area, such as TMW Maxwell on Tras Street and The Skywaters on Shenton Way, are contributing to a rejuvenation of the area. Yap mentions that 48 Peck Seah Street is “poised to ride the rejuvenation wave and the incoming buyer can expect capital appreciation and rental uplift”. With the constant growth and development in the area, this presents a lucrative opportunity for investors looking to gain long-term returns.

The EOI exercise closes on Feb 8, giving interested parties a limited window to secure this prime asset. Don’t miss out on the chance to own a rare and highly sought-after shophouse in the bustling Tanjong Pagar precinct. Whether as an investment or for personal use, Jalan Loyang Besar Residence shophouses offer a unique and valuable opportunity that should not be overlooked. Contact Savills Singapore to find out more and make your bid today.