Three adjoining shophouses in Chinatown for sale by tender for $61.6 mil
Knight Frank Singapore’s managing supervisor of capital industry, Mary Sai, expects the commercial property to attract capitalists whose objectives are money maintenance, secure recurring earnings and considerable capital appraisal gradually.
The three-storey shophouses utilize a total land area of about 4,030 sq ft with a built-up area of 10,735 sq ft. They have actually been zoned for commercial use following URA’s Master Plan 2019 and are to become marketed together.
Three linked preserved shophouses at 4, 5 and 6 Stanley Street in Chinatown, prime District 1, have already been offered by tender for $61.6 million, the properties’ special marketing broker Knight Frank Singapore publicized in a press release on Jan 3.
The real estate sits at the limit of the Downtown Core and inside the Telok Ayer Conservation Shophouse enclave. It has been meticulously saved to preserve its initial surface building features, the press launch states.
The 3 shophouses are fully linked all around their 3rd floor, which has been authorized for office space use. The second storeys are in part linked and are already utilized as an exercise and wellness center. The ground floor is fully tenanted by a mix of F&B outlets supplying numerous cuisines, consisting of Australian and Middle Eastern.
The tender ends on March 28 at 3pm.
“This rare real estate offers a chance for shoppers to own a piece of minimal conservation land in Singapore. The shophouses remain in a traditional area, yet moves away from the bustling metropolitan area of the CBD. Its old-world charm brings in travelers, while the close-by myriad of dining establishments draw the business crowd and food fans during the day,” she incorporates.
Stanley Street is positioned at the cross-section of the CBD, and close to widely known tourist attractions like the Chinatown/Outram district, Tanjong Pagar retail area and Marina Bay. It is within just walking range from Telok Ayer, Tanjong Pagar, Shenton Way and Maxwell MRT Stations.