6-storey shophouse on Hongkong Street on sale at $20 mil

/ EdgeProp
January 29, 2018 3:03 PM SGT
A newly refurbished, six-storey commercial shophouse on 9 Hongkong Street has been put on the market for $20 million, announced CBRE, the sole marketing agent. The sale, by Expression of Interest, is open to both local and foreign buyers and is not subject to additional buyers stamp duty or sellers’ stamp duty.
The property sits on a 1,691 sq ft plot with a total gross floor area of about 7,481 sq ft, and is a fully commercial zoned property under the 2014 Master Plan. It is located within the Upper Circular Road Conservation Area, which is the only shophouse area in the CBD under secondary conservation rules where a six-storey rear extension is allowed at a maximum plot ratio of 4.2, says CBRE.
The six-storey shophouse on 9 Hongkong St. (credit: CBRE)
The property underwent major restoration and refurbishment works that added a rear 6-storey extension block, new mechanical and engineering systems, and the installation of mechanical car parking lots.
Situated between Clarke Quay and Boat Quay the area is an up-and-coming work-play lifestyle destination frequented by locals and tourists. The property is served by the Clarke Quay MRT station.
The Expression of Interest closes on March 16.