17 Hongkong Street (middle) (Picture: CBRE)
SINGAPORE (EDGEPROP) -- A freehold five-storey shophouse at 17 Hongkong Street has been put up for sale by its exclusive marketing agent CBRE with an indicative guide price of $47.5 million.
Located within District 1, the property 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, which means that foreigners are eligible to purchase, and no additional buyer’s stamp duty or seller’s stamp duty will be imposed on the property transaction.
Map of 17 Hongkong Street (Picture: EdgeProp LandLens)
The shophouse is strategically located between popular nightlife destinations Boat Quay and Clarke Quay, and is within walking distance to the CBD and Clarke Quay MRT Station on the North-East Line.
Read also: Upper Paya Lebar Road shophouse for sale at $8.8 mil
CBRE's executive director of capital markets, Singapore Clemence Lee says that the property’s location presents a “golden opportunity” for investors to acquire a freehold shophouse in a “coveted location” due to its proximity to key districts.
Recent commercial sales transactions on Hongkong Street (Picture: EdgeProp Research)