Three adjoining shophouses in Chinatown for sale by tender for $61.6 mil
The real estate sits at the limit of the Downtown Core and within the Telok Ayer Conservation Shophouse territory. It has been very carefully preserved to preserve its genuine surface constructive attributes, the press launch claims.
Stanley Street lies at the cross-section of the CBD, and close to widely known tourist attractions such as the Chinatown/Outram precinct, Tanjong Pagar retail location and Marina Bay. It is within roaming proximity from Telok Ayer, Tanjong Pagar, Shenton Way and Maxwell MRT Stations.
The tender concludes on March 28 at 3pm.
The three-storey shophouses take up a complete land area of approximately 4,030 sq ft with a built-up area of 10,735 sq ft. They have actually been zoned for business use under URA’s Master Plan 2019 and are to be offered together.
The 3 shophouses are fully linked across their third floor, which has actually been accepted for office use. The 2nd storeys are partly linked and are presently utilized as a fitness and health studio. The ground floor is totally occupant by a mix of F&B shops providing different disheses, including Australian and Middle Eastern.
Knight Frank Singapore’s managing supervisor of funding industry, Mary Sai, anticipates the property to bring in capitalists whose objectives are money maintenance, steady returning revenue and considerable funding appraisal with time.
Three interconnected preserved shophouses at 4, 5 and 6 Stanley Street in Chinatown, prime District 1, have been put up for sale by tender for $61.6 million, the commercial properties’ special advertising and marketing broker Knight Frank Singapore announced in a news release on Jan 3.
“This rare commercial property offers a chance for buyers to own and operate a piece of limited preservation land in Singapore. The shophouses are in a historical place, yet measures away from the busy metropolis of the CBD. Its old-world appeal draws in travelers, whereas the nearby myriad of eateries draw the business people and food fans within the day,” she includes.