Three adjoining shophouses in Chinatown for sale by tender for $61.6 mil
3 linked conserved shophouses at 4, 5 and 6 Stanley Road in Chinatown, prime District 1, have already been put up for sale by tender for $61.6 million, the real properties’ special advertising and marketing agent Knight Frank Singapore announced in a news release on Jan 3.
“This unusual real estate provides an opportunity for buyers to own a portion of restricted conservation land in Singapore. The shophouses are in a historic area, yet measures away from the bustling metropolis of the CBD. Its old-world appeal draws in tourists, whilst the neighboring range of dining establishments pull the office people and food lovers throughout the day,” she adds.
The tender concludes on March 28 at 3pm.
The real estate sits at the limit of the Downtown Core and inside the Telok Ayer Conservation Shophouse territory. It has actually been thoroughly saved to maintain its initial exterior constructive attributes, the media launch states.
Stanley Street is located at the cross-section of the CBD, and close to widely known destinations including the Chinatown/Outram precinct, Tanjong Pagar retail area and Marina Bay. It is just within roaming range from Telok Ayer, Tanjong Pagar, Shenton Way and Maxwell MRT Stations.
The three-storey shophouses utilize a total acreage of around 4,030 sq ft with a built-up area of 10,735 sq ft. They have been zoned for industrial usage within URA’s Master Plan 2019 and are to be offered jointly.
The 3 shophouses are completely attached throughout their third floor, which has been authorized for office use. The second storeys are partially attached and are already made use of as a fitness and wellness center. The ground floor is totally lessee by a mix of F&B shops offering numerous delicacies, including Australian and Middle Eastern.
Knight Frank Singapore’s managing supervisor of funding industry, Mary Sai, expects the building to draw in investors whose goals are money maintenance, secure returning earnings and significant capital appraisal over time.