Adjoining 3-storey Club Street conservation shophouses up for sale, Latest Business News - The New Paper

Adjoining 3-storey Club Street conservation shophouses up for sale

This article is more than 12 months old

A pair of adjoining three-storey conservation commercial shophouses on Club Street are being put up for sale.

The 999-year units near Chinatown have a combined land area of 2,387 sq ft and floor area of 6,208 sq ft.

Foreigners can buy the properties and additional buyer's stamp duty is not required.

Mr Shaun Poh, Cushman & Wakefield's executive director of capital markets, said the shophouses, which will be sold with existing tenancy, were "an exceptional investment opportunity".

"More than 1,000 new hotel rooms are expected to be added in the locale, injecting vibrancy and increasing tourism footfall, with the ongoing construction of new hotels in the vicinity, namely The Clan and Capri by Fraser, coupled with the recent sale of the hotel site at Club Street," he added.

The real estate firm said conservation commercial properties in prime central locations "remain highly sought after by investors", such as boutique funds, family offices and wealthy individuals .

"We expect keen interest from end-users who are looking to locate their business in a building with naming rights within the central business district," it added. - THE STRAITS TIMES