Three adjoining shophouses in Chinatown for sale by tender for $61.6 mil

Three linked saved shophouses at 4, 5 and 6 Stanley Road in Chinatown, prime District 1, have recently been offered by tender for $61.6 million, the commercial properties’ special promotion agent Knight Frank Singapore announced in an announcement on Jan 3.

The property sits at the limit of the Downtown Core and within the Telok Ayer Conservation Shophouse territory. It has been very carefully preserved to keep its genuine exterior constructive features, the media release states.

Midtown Bay Guocoland Limited

Knight Frank Singapore’s executive director of capital industry, Mary Sai, anticipates the commercial property to attract investors whose purposes are assets maintenance, stable returning earnings and substantial resources appreciation over time.

The 3 shophouses are completely attached throughout their third floor, which has been authorized for office purpose. The 2nd storeys are partially connected and are currently made use of as a fitness and health center. The ground storey is completely lessee by a mix of F&B shops supplying different disheses, involving Australian and Middle Eastern.

The tender ends on March 28 at 3pm.

Stanley Street is located at the cross-section of the CBD, and nearby popular destinations including the Chinatown/Outram precinct, Tanjong Pagar retail location and Marina Bay. It is within walking proximity from Telok Ayer, Tanjong Pagar, Shenton Way and Maxwell MRT Stations.

“This uncommon estate presents an opportunity for purchasers to possess a portion of restricted preservation land in Singapore. The shophouses remain in a historic location, yet steps far from the bustling metropolitan area of the CBD. Its old-world beauty attracts visitors, whilst the neighboring range of dining establishments draw the business crowd and food lovers during the day,” she includes.

The three-storey shophouses occupy a total acreage of approximately 4,030 sq ft with a built-up location of 10,735 sq ft. They have been zoned for business use within URA’s Master Plan 2019 and are to become offered collectively.

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