Three adjoining shophouses in Chinatown for sale by tender for $61.6 mil
By Nur Hikmah Md Ali
/ EdgeProp Singapore |
Three adjoined conserved shophouses located at 4, 5 and 6 Stanley Street in Chinatown are on the market for $61.6 million(Photo: Knight Frank Singapore).
SINGAPORE (EDGEPROP) - Three interconnected conserved shophouses at 4, 5 and 6 Stanley Street in Chinatown, prime District 1, have been put up for sale by tender for $61.6 million, the properties’ exclusive marketing agent Knight Frank Singapore announced in a press release on Jan 3.
The three-storey shophouses occupy a total land area of about 4,030 sq ft with a built-up area of 10,735 sq ft. They have been zoned for commercial use under URA’s Master Plan 2019 and are to be sold together.
The property sits at the boundary of the Downtown Core and within the Telok Ayer Conservation Shophouse enclave. It has been carefully conserved to retain its original exterior architectural features, the press release says.
The three shophouses are fully connected across their third storey, which has been approved for office use. The second storeys are partially connected and are currently used as a fitness and wellness studio. The ground floor is fully tenanted by a mix of F&B outlets offering various cuisines, including Australian and Middle Eastern.
Stanley Street is located at the cross-section of the CBD, and near well-known attractions such as the Chinatown/Outram precinct, Tanjong Pagar commercial area and Marina Bay. It is within walking distance from Telok Ayer, Tanjong Pagar, Shenton Way and Maxwell MRT Stations.
The site of the three shophouses within the Telok Ayer Conservation Shophouses enclave (Photo: Knight Frank Singapore).
Knight Frank Singapore’s executive director of capital markets, Mary Sai, expects the property to attract investors whose objectives are wealth preservation, stable recurring income and substantial capital appreciation over time.
“This rare property presents an opportunity for buyers to own a piece of limited conservation land in Singapore. The shophouses are in a historical area, yet steps away from the bustling metropolis of the CBD. Its old-world charm attracts tourists, while the nearby myriad of eateries draw the office crowd and food lovers throughout the day,” she adds.
The tender closes on March 28 at 3pm.
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