A freehold shophouse at 6 Hongkong Street is up for sale via expression of interest (EOI). Located within prime District 1, the three-storey shophouse with an attic has an estimated gross floor area (GFA) of around 5,700 sq ft, and is approved for F&B use for two storeys.

The shophouse is priced starting from $19 million, according to the property’s marketing agent, Steward Asia Real Estate, which is under PropNex Realty. Based on the existing GFA, this works out to around $3,333 psf.

The property sits on a land-plot spanning 1,769 sq ft that is zoned for commercial use, with a plot ratio of 4.2. Based on this, the property can potentially be expanded with a six-storey rear extension that would bring the GFA up to the maximum allowable level of about 7,428 sq ft, subject to approvals from the relevant authorities, the marketing agent adds.

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Caveats lodged with URA show that the shophouse last changed hands in May 2018 for $13.75 million. According to Steward Asia, the shophouse underwent restoration and refurbishment valued at $4 million in 2023, and is currently occupied by a medical clinic.  However, buyers have the flexibility to explore different uses such as lifestyle, co-living or F&B concepts.

As the property is zoned for commercial use, no additional buyer’s stamp duty is applicable, and foreigners are eligible to purchase the property.

The shophouse is situated less than a 10-minute walk away from Clarke Quay MRT Station on the North-East Line, and the Raffles Place MRT Interchange on the East-West and North-South Lines. The property is also just across the street from Hotel Bencoolen Hong Kong Street, Hotel NuVe Elements, Clarke Quay, and is right next to KINN Habitat.

Loyalle Chin, co-founder of Steward Asia Real Estate and director of PropNex ShophouseHuat, says: “With commercial interest rates steadily falling below 1.7%, we believe 6 Hongkong Street will garner keen interest from family offices and seasoned investors seeking immediate rental income.”

The EOI exercise will close on March 3, at 3pm.

Check out the latest listings for District 1, Clarke Quay properties