Commercial shophouses at Club Street for sale at $25 mil

/ EdgeProp
February 20, 2019 3:41 PM SGT
44 and 46 Club Street (Credit: Cushman & Wakefield)
A pair of adjoining conservation shophouses at Club Street is up for sale at $25 million.
The three-storey commercial shophouses are at 44 and 46 Club Street, within the Chinatown-Telok Ayer area in the CBD. The 999-year leasehold shophouses occupy a combined land area of 2,387 sq ft, with a total floor area of 6,208 sq ft.
The property will be sold with an existing tenancy.
“More than 1,000 new hotel rooms are expected to be added in the locale, injecting vibrancy and increasing tourism footfall,” says Shaun Poh, executive director of capital markets at Cushman & Wakefield, noting the ongoing construction of new hotels in the area such as The Clan and Capri by Fraser. There is also the recent government land sale hotel site at Club Street, he adds.
Cushman & Wakefield is the marketing agent for the property.
Foreigners are eligible to purchase the property. The additional buyer’s stamp duty (ABSD) will not be imposed.
The expression of interest (EOI) exercise will close on Mar 19 at 3pm.