Three adjoining shophouses in Chinatown for sale by tender for $61.6 mil
Knight Frank Singapore’s executive supervisor of funding markets, Mary Sai, anticipates the building to draw in capitalists whose purposes are assets preservation, secure returning earnings and considerable capital appreciation in time.
The tender closes on March 28 at 3pm.
Three interconnected conserved shophouses at 4, 5 and 6 Stanley Street in Chinatown, prime District 1, have already been put up for sale by tender for $61.6 million, the real properties’ exclusive marketing agent Knight Frank Singapore released in an announcement on Jan 3.
The three shophouses are totally attached throughout their 3rd storey, which has actually been accepted for office usage. The second storeys are in part linked and are presently utilized as an exercise and wellness center. The ground storey is totally tenanted by a mix of F&B shops offering different delicacies, consisting of Australian and Middle Eastern.
The real property settles at the limit of the Downtown Core and in the Telok Ayer Conservation Shophouse territory. It has been carefully conserved to keep its original outside constructive attributes, the press release mentions.
“This rare estate offers a chance for buyers to have a part of minimal preservation land in Singapore. The shophouses are in a traditional place, yet measures far from the bustling city of the CBD. Its old-world charm attracts visitors, whereas the neighboring myriad of dining establishments pull the business group and food enthusiasts all throughout the day,” she adds.
Stanley Street lies at the cross-section of the CBD, and near well-known attractions such as the Chinatown/Outram district, Tanjong Pagar business area and Marina Bay. It is just within walking range from Telok Ayer, Tanjong Pagar, Shenton Way and Maxwell MRT Stations.
The three-storey shophouses occupy a complete acreage of about 4,030 sq ft with a built-up location of 10,735 sq ft. They have been zoned for commercial use under URA’s Master Plan 2019 and are to be offered jointly.
