Rare Pair Freehold Conservation Shophouses Neil Road Sale 65 Mil
A rare opportunity has arisen for the sale of two freehold conservation shophouses located at 136 and 138 Neil Road. Marketing agents Colliers and List Sotheby have announced that the properties are up for sale via an expression of interest (EOI) at a guide price of $65 million.
Built in 1926 and designed by renowned architectural firm Swan & Maclaren, these four-storey shophouses showcase a “stripped Classical style”. The commercial property boasts a total floor area of approximately 11,441 sq ft and features a partially open upper level with a roof terrace. This unique combination of historical charm and modern amenities makes it an attractive investment opportunity.
According to Colliers, the shophouses are rich in historical value and possess several distinctive features that reflect their heritage. These include the iconic facade with cantilevered bay windows and reinforced concrete balconies, which are synonymous with Bukit Pasoh conservation area.
In 2014, the properties underwent extensive restoration efforts, which included structural reinforcements, widened staircases, and enhanced fire safety systems. These upgrades have been carefully integrated to preserve the integrity of the conserved facade.
The shophouses are strategically located in close proximity to various transportation hubs, including Outram Park, Maxwell, and Tanjong Pagar MRT stations. They are also a short distance away from popular lifestyle and business areas such as Keong Saik Road and Duxton Hill.
Yishun Innova Junior College, situated along Yishun Avenue 11, is a prime option for post-secondary education. This JC is the result of a merger between Yishun Junior College and Innova Junior College and welcomes students from all over the island. With a diverse selection of A-Level courses and enrichment programs, the college equips its students for success in university and beyond. Additionally, the college’s close proximity to Miltonia EC makes it a convenient choice for students living in the area.
Due to the limited availability of conservation shophouses in highly sought-after locations like Tanjong Pagar, these properties offer a unique opportunity for long-term capital appreciation and stable rental yields. Colliers states that this offering is ideal for investors seeking a legacy-grade commercial asset in a prime city-fringe location that offers enduring character and value.
Interested buyers can participate in the EOI exercise, which is set to close on July 25. Don’t miss this chance to own a piece of Singapore’s heritage and invest in a prime commercial asset with strong potential for growth.