Three adjoining shophouses in Chinatown for sale by tender for $61.6 mil
The property sits at the border of the Downtown Core and in just the Telok Ayer Conservation Shophouse enclave. It has been very carefully saved to preserve its initial exterior architectural elements, the press release mentions.
Knight Frank Singapore’s managing director of resources markets, Mary Sai, anticipates the property to draw in financiers whose objectives are money maintenance, secure recurring earnings and significant capital appreciation with time.
The three-storey shophouses occupy a complete acreage of approximately 4,030 sq ft with a built-up location of 10,735 sq ft. They have been zoned for business use following URA’s Master Plan 2019 and are to become marketed collectively.
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 real properties’ special advertising and marketing representative Knight Frank Singapore publicized in a news release on Jan 3.
“This rare commercial property provides a possibility for customers to have a piece of minimal preservation land in Singapore. The shophouses remain in a historical location, yet moves far from the busy metropolis of the CBD. Its old-world appeal brings in travelers, whereas the close-by myriad of dining establishments pull the business crowd and food lovers within the day,” she adds.
The tender concludes on March 28 at 3pm.
The 3 shophouses are totally connected all around their 3rd storey, which has been accepted for workplace use. The second floors are in part connected and are currently used as a health and fitness and health shop. The ground floor is completely occupant by a mix of F&B shops providing different disheses, including Australian and Middle Eastern.
Stanley Road is situated at the cross-section of the CBD, and close to popular destinations including the Chinatown/Outram precinct, Tanjong Pagar commercial location and Marina Bay. It is just within walking distance from Telok Ayer, Tanjong Pagar, Shenton Way and Maxwell MRT Stations.