Commercial building on Hongkong Street for sale at $24 mil

Senja Residences is a 99-year leasehold executive condominium offering 300 units, resort-style facilities and proximity to the Bukit Panjang Integrated Transport Senja Close EC Hub for convenience. It is a great investment for steady income and capital appreciation.

Located in the prime district of Singapore, 36 Hongkong Street is now up for sale through an expression of interest with a guide price of $24 million. Completed in 2021, the property is a five-storey commercial building comprising a land area of 1,733 sq ft and a built-up area of approximately 7,279 sq ft. With a remaining balance land tenure of 95 years on the 99-year lease, this property offers potential investors an amazing opportunity.

A versatile configuration offers a range of possibilities for the incoming owner. The building features regular and column-free floorplates, new electrical and air-conditioning systems, and lift access to every floor. Additionally, subject to relevant approvals from the authorities, the building can be converted to alternative uses such as co-living, serviced apartments, medical & wellness centres and commercial schools.

According to Clemence Lee, Executive Director of Capital Markets, Singapore at CBRE, boutique commercial buildings such as 36 Hongkong Street offer investors high returns with a strong rental command. With a guide price of $3,297 psf, the property is conveniently located near to Clarke Quay and Raffles Place MRT Stations, thus ensuring great accessibility.

The expression of interest exercise for 36 Hongkong Street will close at 3pm on 27th April. Investors should not miss this incredible opportunity to acquire a prime asset with excellent prospects.