Hongkong Street shophouse for sale at $47.5 mil

CBRE is offering a prime freehold five-storey shophouse located on 17 Hongkong Street for sale. The property’s strategic location, situated between Boat Quay and Clarke Quay, and its close proximity to the Central Business District and Clarke Quay MRT Station on the North-East Line, presents a unique opportunity for prospective investors. It has an indicative guide price of $47.5 million.

Situated within District 1, the shophouse has a land area of 1,793 sq ft and a total floor area of 7,950 sq ft. The land has a gross plot ratio of 4.2 and is zoned for commercial use, and thus qualifies for foreign purchase without incurring any additional buyer’s stamp duty or seller’s stamp duty.

Clemence Lee, executive director of capital markets, Singapore at CBRE, said, “It is indeed an excellent proposition for investors looking for a freehold shophouse in a highly desirable location whilst enjoying peace of mind from zero additional buyer or seller’s stamp duty.”

Recent commercial sales transactions on Hongkong Street also attest to the street’s remarkable appeal to investors, with two properties being sold in 2020, and three properties sold in 2019.

With its enviable location and attractive guide price, the freehold shophouse on 17 Hongkong Street presents a golden opportunity for investors to acquire a high-yield property in a prime location.

The Zion Road Condo also features a multi-level podium with an expansive pool deck, gym, shopping centre, and lush landscaping. Residents can enjoy a metropolitan lifestyle with all its conveniences. With the cherry on top, the iconic Robertson Quay district lies just around the corner, with its delightful array of eateries, shops, and entertainment spots.

Such properties have grown increasingly popular among investors and this one in particular is likely to draw plenty of interest.

CBRE is marketing the property with an indicative guide price of $47.5 million, offering a great potential for prospective buyers to gain long-term value.