63 and 65 Club Street up for sale

/ EdgeProp Singapore
November 18, 2018 11:29 PM SGT
For the past six months, Jerry Tan, founder and managing director of JTResi boutique agency, which markets luxury residential property, had been mulling over selling his shophouse at 65 Club Street. It was not an easy decision to make, and the timing has not seemed right until now. “It’s about pride of ownership,” says Tan. “We didn’t even want to rent out our shophouse to anyone.”
Tan had purchased the shophouse at 65 Club Street in May 2006 for $2.8 million. At the launch of Kelvin Tan’s book, On a Little Hill in China town: Singapore’s Ann Siang Hill, hosted by JTResi on Oct 18, he related the anecdote of his purchase: “I had returned from a business trip in Jakarta, and Eckardt Caius [co-founder and executive director of JTResi] had placed a newspaper ad with a picture of a beautiful shophouse on my table. The minute I saw it, I said we had to see it that afternoon. But I said I wouldn’t want to spend more than $1 million. Caius said, ‘Don’t bother. It’s $3 million.’”
JTResi's office and reception-entertainment area on the first level of 65 Club Street (Photo Credit: Samuel Isaac Chua/EdgeProp Singapore)
Still, Tan arranged to view the shophouse on Club Street that afternoon. “I stood here, and it was dark and dingy then,” he recounts. “The shophouse had seven tenants — regional lawyers on the first level who were using it as a home office, as they lived there too; a bridal studio on the second level; and other small offices. But it spoke to me, and we bought the shophouse in 10 minutes.”
JTResi’s Tan spent another $1.2 million refurbishing it before moving in in August 2006. The shophouse was always intended to be more than just an office: It was a sales gallery and a place to entertain clients and friends as well. “We deal with high-end real estate, and we wanted a place where we could come and enjoy art, music, food and drinks,” he says. “This office was designed on the basis of always entertaining. Of course, there is an office area where serious work is going on.”

Club deal

Shortly after deciding on purchasing the shophouse...