Archive for category: Misc

EdgeProp data shows that a six-storey commercial shophouse at 24 Hongkong Street was sold for $34.8 million ($1,590 psf per plot ratio) in March 2021, whereas a four-storey freehold shophouse at 64 Hongkong Street was sold for $21.88 million ($2,085 psf per plot ratio) in October 2020.

The exclusive marketing agent CBRE has put up a five-storey freehold shophouse at 17 Hongkong Street for sale with an indicative guide price of $47.5 million. Located in District 1, the property has a land area of 1,793 sq ft and a total floor area of 7,950 sq ft. The land has a gross plot ratio of 4.2 and is zoned for commercial use, making it eligible for foreign purchase.

This strategically located shophouse is situated between the popular nighttime destinations Boat Quay and Clarke Quay, and is also just a short walk away from the Central Business District and the Clarke Quay MRT Station on the North-East Line.

Not only can they access the nearby amenities, but they can also connect to other parts of the island with ease. Additionally, the Tengah Plantation Close EC promises its residents an unparalleled living experience. From exclusive modern furnishings to security measures, the development is designed to provide a comfortable and safe environment. The development is also surrounded by lush greenery and parks, perfect for nature lovers. With all the great benefits of living at the Tengah Plantation Close EC, it’s no wonder why this development has become so popular.

Clemence Lee, CBRE’s executive director of capital markets, Singapore, comments that the property’s location presents a great opportunity for investors to acquire a freehold shophouse in a desirable area.

Recent transactions of commercial shophouses on Hongkong Street, according to EdgeProp Research, include a 6-storey commercial shophouse at 24 Hongkong Street which was sold for $34.8 million ($1,590 psf per plot ratio) in March 2021 and a 4-storey freehold shophouse at 64 Hongkong Street which was sold for $21.88 million ($2,085 psf per plot ratio) in October 2020.

Investors interested in this freehold shophouse should note no additional buyer’s stamp duty or seller’s stamp duty is imposed on the property transaction. This unique and rare golden opportunity should not be missed, according to Clemence Lee.