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The three-storey, conservation shophouse is expected to attract investors and F&B operators.
A three-storey conservation shophouse along 93 Club Street has been put up for sale via an expression of interest (EOI) exercise, revealed marketing agent Cushman & Wakefield.
With a floor area of around 2,885 sq ft, the 999-year shophouse is nestled on an 800.8 sq ft site zoned commercial under the 2014 Master Plan.
The property, which comes with a mezzanine and is being sold with existing tenancy, is situated within the heritage district of Chinatown-Telok Ayer in the Central Business District (CBD), near the upcoming Maxwell MRT station.
“It presents an excellent opportunity for investors such as boutique funds, family offices and shophouse collectors or end-users such as F&B operators and business owners to acquire a limited piece of heritage asset within the CBD,” said Cushman & Wakefield executive director of capital markets Shaun Poh.
“There is also tremendous potential for rental and capital upside given the anticipated growth in tourism footfall following the expected completion of several new hotel developments in the immediate vicinity.”
Foreigners are eligible to acquire the property, with no Additional Buyer’s Stamp Duty (ABSD) payable.
The EOI exercise for the shophouse closes on 11 June.
Victor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email victorkang@propertyguru.com.sg
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