Five-storey commercial shophouse at 32 Hongkong Street for sale at $8.5 mil

By Valerie Kor
/ EdgeProp Singapore |
Join our  Telegram  channel and follow our  Facebook  for the latest update.
SINGAPORE (EDGEPROP) - A five-storey commercial shophouse at 32 Hongkong Street is now on the market at a guide price of $8.5 million, excluding the premium payable for lease renewal, which is subject to the approval of authorities.
The guide price works out to be $1,198 psf based on the total floor area of about 7,100 sq ft. The land is 99-year leasehold with effect from January 1942 and measures around 1,717 sq ft.
The site is zoned “commercial” under the URA Master Plan 2019, with a plot ratio of 4.2 and has an allowable building height of up to six storeys. Hence, no additional buyer’s stamp duty and seller’s stamp duty will be imposed. Both locals and foreigners are eligible to purchase.
The property is exclusively marketed by Adnic Lee, senior associate marketing director of PropNex Realty. “The developer has the flexibility to apply to the relevant authorities to change the facade and refresh the look of the building as the shophouse is under envelope control guidelines,” says Lee. He adds that it is ideal for investors who prefer to rebuild or owner-occupiers who want to locate their family offices within the CBD of Singapore. Investors can apply to SLA for a fresh lease renewal.
The location of the shophouse is within a five-minute walk from Clarke Quay MRT station and Central shopping mall.
The property will be sold with vacant possession. The Expression of Interest exercise closes on April 15 at 3pm.
Check out the latest listings near Clarke Quay MRT station

Follow Us
Follow our channels to receive property news updates 24/7 round the clock.
EdgeProp Telegram
EdgeProp Facebook
Subscribe to our newsletter

Our Site (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

View More