Three adjoining shophouses in Chinatown for sale by tender for $61.6 mil

The three-storey shophouses take up a full acreage of approximately 4,030 sq ft with a built-up area of 10,735 sq ft. They have actually been zoned for industrial usage within URA’s Master Plan 2019 and are to be sold jointly.

Three interconnected preserved shophouses at 4, 5 and 6 Stanley Street in Chinatown, prime District 1, have been offered by tender for $61.6 million, the properties’ special promotion representative Knight Frank Singapore released in an announcement on Jan 3.

Knight Frank Singapore’s managing director of funding industry, Mary Sai, projects the property to draw in capitalists whose objectives are assets maintenance, secure recurring revenue and significant resources appreciation in time.

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Stanley Street is positioned at the cross-section of the CBD, and near well-known attractions including the Chinatown/Outram precinct, Tanjong Pagar business location and Marina Bay. It is within roaming range from Telok Ayer, Tanjong Pagar, Shenton Way and Maxwell MRT Stations.

The 3 shophouses are fully connected all around their 3rd floor, which has been accepted for office space purpose. The 2nd storeys are in part linked and are currently used as a fitness and health shop. The ground floor is fully lessee by a mix of F&B outlets offering different delicacies, involving Australian and Middle Eastern.

The real estate sits at the limit of the Downtown Core and in the Telok Ayer Conservation Shophouse territory. It has actually been meticulously conserved to preserve its genuine surface building attributes, the press release mentions.

“This unusual real estate offers a possibility for buyers to own and operate a part of limited conservation land in Singapore. The shophouses remain in a historic area, yet moves away from the dynamic metropolis of the CBD. Its old-world charm attracts travelers, whereas the close-by variety of restaurants pull the office crowd and food enthusiasts throughout the day,” she incorporates.

The tender closes on March 28 at 3pm.

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