Hongkong Street shophouse for sale at $47.5 mil

CBRE’s Lee says, “Given the property’s excellent location and its many potential uses, we expect to receive strong interest from industry players, especially those exploring the prospects of repurposing the existing structure into a hotel, lifestyle retail or boutique office.”The property is available for sale for a period of three weeks from today until Thursday, 11 October 2018.

Located in Singapore’s District 1, the five-storey freehold shophouse at 17 Hongkong Street is now up for sale for an indicative guide price of $47.5 million. With a land area of 1,793 sq ft and a total floor area of 7,950 sq ft, the shophouse is located among popular nightlife destinations and is in close proximity to major commercial districts and the Clarke Quay MRT Station.

The property is eligible for purchase by foreigners and is exempt from additional buyer’s stamp duty or seller’s stamp duty. CBRE’s executive director of capital markets, Singapore Clemence Lee notes that this is a “golden opportunity” to acquire a freehold shophouse in a prime location.

Lee further adds that due to its fantastic location, the shophouse could potentially be repurposed into a hotel, lifestyle retail or boutique office. With many potential uses, this property is likely to draw strong interest from industry players.

The sale period for 17 Hongkong Street will last till 11 October 2018.

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The exclusive marketing agent for the property is CBRE and the sale period will run until Thursday, October 11, 2018. With its desirable location and many potential uses, the shophouse at 17 Holland Drive Condo Hongkong Street is a golden opportunity for investors to acquire a freehold property in a coveted area.

Recent commercial sales in the vicinity of the property demonstrate that this site stands at a unique advantage and is likely to generate strong interest. Situated between Clarke Quay and Boat Quay and within walking distance to the CBD, it is no surprise that the property is of such high value.

With easy access to public transportation, residents can travel easily to nearby places of interest. Furthermore, the new Senja Close EC Bukit Panjang is surrounded by lush, green parks and nature reserves such as Central Catchment Nature Reserve, Bukit Timah Nature Reserve and more, ideal for outdoor activities. Residents of Senja Close EC Bukit Panjang can also enjoy a wholesome lifestyle with the amenities at the development, including family court, gymnasium, swimming pool, tennis court and even a 24-hour security.

Map of 17 Hongkong Street (Picture: EdgeProp LandLens) RELATED NEWS

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CBRE’s Clemence Lee states that this prime location presents an ideal investment opportunity. With no additional stamp duty imposed, foreign investors have a great chance to acquire this freehold shophouse. It could potentially be repurposed into a hotel, lifestyle retail space, or a boutique office.

The sale of 17 Hongkong Street provides an exceptional opportunity for potential investors. As the exclusive marketing agent, CBRE has listed the property for three weeks at an indicative guide price of $47.5 million. Interested buyers have until 11 October 2018 to make their move.