SINGAPORE (EDGEPROP) - A freehold, four-storey conservation shophouse located along Stanley Street has been put up for sale via an expression of interest (EOI) with a guide price of $33.8 million, according to a joint press release from JLL and OrangeTee and Tie on Oct 12.

Read also: Four-storey conservation shophouse on Stanley Road for sale at $33.8 mil

JLL and OrangeTee and Tie are the joint marketing agents for the shophouse.

Situated at 28 Stanley Street, the property has a land area of 1,729 sq ft and a total floor area of 6,485 sq ft. This translates to $5,212 psf based on the built-up area. It has permanent approval for restaurant usage on the first and second storeys.

The property is a short walk to the Telok Ayer MRT Station on the Downtown Line.

“Conservation shophouses within the core central district are poised for further capital growth with the rising number of family offices that are seeking to establish their real estate footprint in Singapore,” says Terry Wong, senior director of capital markets at JLL.

Source: EdgeProp Inspector Tool

Wong expects the shophouse to appeal to boutique real estate funds, family offices and high-net-worth individuals.

Foreigners are eligible to purchase the property and additional buyer’s stamp duty is not required. The property will be sold with vacant possession.

The EOI exercise will close on Nov 16 at 3pm.

Check out the latest listings near Stanley Street, Telok Ayer MRT Station