Neil Road Shophouse goes on sale for $16.2m

JLL will serve as the exclusive marketing agent of the property.

Neil Road shophouse has gone on sale for $16.2m, as announced by JLL.

Making up the property along Neil Road is a three-storey conservation shophouse with an attic situated in District 2.

A land area of 1,883 square feet (sf), as well as an existing built-up area of around 6000 sf make up the property. With the site being zoned for commercial use, the location is fully-tenanted. Occupying the first and second storey are a modern izakaya restaurant and bar, whilst an office tenant takes up the third storey and attic.

Close to the property are the junctions of Kreta Ayer Road and Teck Lim Road, as well as between the Keong Saik and Duxton Hill enclaves. Also within walking distance is the CBD, and the Outram Park, and Tanjong Pagar MRT stations.

“51 Neil Road occupies an unparalleled location strategically nestled in the Tanjong Pagar precinct, where substantial rejuvenation and transformation are underway. A key highlight to its location is the upcoming Maxwell MRT Station positioned adjacently across the property, which will enhance accessibility and bring significant footfall to the immediate area,” said Kate Leong, Director, JLL Capital Markets.

The sale will be done through an Expression of Interest exercise, which is set to close on 22 February 2022.

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