Three adjoining shophouses in Chinatown for sale by tender for $61.6 mil
The three-storey shophouses utilize a total land area of approximately 4,030 sq ft with a built-up area of 10,735 sq ft. They have been zoned for commercial use following URA’s Master Plan 2019 and are to become sold jointly.
The real property rests at the border of the Downtown Core and inside the Telok Ayer Conservation Shophouse territory. It has actually been very carefully preserved to maintain its authentic exterior constructive components, the press launch states.
Lakegarden Residences Yuan Ching Road
Three linked saved shophouses at 4, 5 and 6 Stanley Road in Chinatown, prime District 1, have been offered by tender for $61.6 million, the commercial properties’ special promotion agent Knight Frank Singapore announced in a news release on Jan 3.
Stanley Street lies at the cross-section of the CBD, and nearby popular destinations like the Chinatown/Outram district, Tanjong Pagar retail location and Marina Bay. It is just within roaming distance from Telok Ayer, Tanjong Pagar, Shenton Way and Maxwell MRT Stations.
Knight Frank Singapore’s executive supervisor of capital markets, Mary Sai, assumes the commercial property to attract capitalists whose goals are money conservation, steady returning income and significant capital appraisal gradually.
The tender concludes on March 28 at 3pm.
“This uncommon commercial property presents an opportunity for customers to own a portion of limited conservation land in Singapore. The shophouses remain in a traditional area, yet measures away from the bustling metropolis of the CBD. Its old-world appeal brings in travelers, while the close-by myriad of restaurants attract the business crowd and food enthusiasts throughout the day,” she adds.
The three shophouses are completely connected across their 3rd floor, which has actually been authorized for office space use. The second floors are partly attached and are presently utilized as an exercise and wellness shop. The ground storey is completely tenanted by a mix of F&B shops supplying different cuisines, involving Australian and Middle Eastern.
