Club Street conservation shophouses up for sale

A pair of adjoining three-storey conservation commercial shophouses in Club Street are up for sale.

The 999-year units near Chinatown have a combined land area of 2,387 sq ft and floor area of 6,208 sq ft.

Foreigners can buy the properties, which do not attract additional buyer's stamp duty.

Mr Shaun Poh, Cushman & Wakefield's executive director of capital markets, said the shophouses, which will be sold with existing tenancy, were "an exceptional investment opportunity".

"More than 1,000 new hotel rooms are expected to be added in the locale, injecting vibrancy and increasing tourism footfall, with the ongoing construction of new hotels in the vicinity, namely The Clan and Capri by Fraser, coupled with the recent sale of the hotel site at Club Street," he added.

The real estate firm said conservation commercial properties in prime central locations "remain highly sought after by investors", such as boutique funds, family offices and wealthy individuals .

A pair of adjoining three-storey conservation commercial shophouses, at 44 and 46 Club Street, are on the market. They have a combined land area of 2,387 sq ft and floor area of 6,208 sq ft.
A pair of adjoining three-storey conservation commercial shophouses, at 44 and 46 Club Street, are on the market. They have a combined land area of 2,387 sq ft and floor area of 6,208 sq ft. PHOTO: CUSHMAN & WAKEFIELD

"We expect keen interest from end-users who are looking to locate their business in a building with naming rights within the central business district," it added.

A version of this article appeared in the print edition of The Straits Times on February 20, 2019, with the headline 'Club Street conservation shophouses up for sale'. Print Edition | Subscribe