The Singapore conservation shophouse market has kicked off 2026 with a high-profile listing that is capturing the attention of seasoned investors. A prime two-storey shophouse at 81 Tras Street has officially hit the market with a guide price of $15 million. This launch, conducted via an Expression of Interest (EOI) exercise, signals a robust start for the heritage property sector, which remains a cornerstone of Singapore’s commercial real estate despite broader macroeconomic shifts over the past year.
Strategically located within the Tanjong Pagar Conservation Area, the property boasts a total floor area of approximately 4,510 square feet across two floors, an attic, and a roof terrace. At the $15 million asking price, the deal breaks down to roughly $3,326 per square foot on the floor area. The asset is particularly attractive due to its “Commercial” zoning under the Master Plan 2025, which allows for restaurant use on both the first and second levels. This versatility is a major draw for buyers looking to tap into the vibrant dining scene that Tras Street is famous for.
Adding to its investment appeal, the shophouse is currently tenanted by the renowned Italian restaurant Pasta Brava, ensuring immediate rental income for any successful bidder. Beyond the financial returns, the building itself is a masterclass in heritage architecture. It features soaring high ceilings on the ground floor and an internal airwell that floods the space with natural light. Such design elements are increasingly rare and difficult to replicate, providing the “trophy asset” status that many high-net-worth individuals and family offices seek.
The timing of this sale aligns with a significant improvement in local infrastructure. Connectivity in the Tanjong Pagar precinct is set for a major boost with the upcoming completion of the Prince Edward Road MRT station in the first half of 2026. Currently, the shophouse is already well-served by the Tanjong Pagar and Maxwell MRT stations, making it highly accessible to both the CBD office crowd and the influx of tourists returning to the city’s historic enclaves.
From a regulatory standpoint, the property offers a seamless entry point for both local and international investors. Because it is zoned entirely for commercial use, foreign buyers are eligible to purchase the asset without incurring Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD). This tax efficiency, combined with the 99-year leasehold tenure that commenced in 1994, positions the property as a defensive and tax-optimized play for long-term capital preservation.
As the EOI exercise draws toward its February 10, 2026 deadline, market watchers are viewing this sale as a litmus test for the shophouse segment’s resilience. With interest rates beginning to stabilize and a limited supply of shophouses with F&B approval in prime District 2, competition is expected to be stiff. For the right investor, 81 Tras Street represents more than just a real estate transaction; it is a rare opportunity to own a piece of Singapore’s history in one of its most dynamic commercial districts.
