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Photo of 45 Club Street (Source: Huttons Asia)
A three storey plus roof terrace conservation shophouse, located at Club Street is up for sale via an expression of interest (EOI) at a guide price of $28.8 million. Huttons Asia Pte Ltd has been appointed as the sole marketing agent.
The property has a land area of approximately 2,529 sq ft and a built up of approximately 4,900 sq ft. It has been zoned for Commercial use and has a tenure of 999 years. The shophouse is a standalone building with a wide frontage of approximately 16.7 metres which is very rare for conservation shophouses. It has an open roof terrace with unblocked views of the surrounding area.
The subject property is one of the most prominent and iconic shophouses along Club Street and in the entire CBD. The buyer has the choice of renting it to a single tenant or multiple tenants due to its set up. It is ideal for established companies, perfect for branding, status and awareness.
According to Jeremy Lim, Senior Group District Director of Huttons Asia, “Conservation shophouses with a freehold or 999-year leasehold tenure are well sought after as High Net Worth Individuals see these properties as legacy assets and they hold their value well. The supply is very much limited for these shophouses.”
As part of the Telok Ayer Conservation area, the shophouse along Club Street is within 2-5 minutes’ walk to Chinatown, Telok Ayer and Maxwell MRT stations. Club Street is famous among locals and tourists for its restaurants, cafes, and bars. The shophouse is within close proximity to the upcoming 987-room hotel by Worldwide Hotels Group which will be connected to Telok Ayer MRT station.
“We do observe that there is an increasing demand for such properties among MNCs, offices, aesthetic clinics, law firms and accountancy firms as there are less restrictions with operating hours and renovations,” said Aric Lim, Group Division Director of Huttons Asia.
“45 Club Street offers excellent transport connectivity with 3 MRT stations nearby. It is also close to the Raffles Place and Tanjong Pagar Downtown Core where many MNCs are located. Buyers may enjoy potential future upside as there are limited standalone shophouses,” concludes Lee Sze Teck, Senior Director of Research at Huttons Asia.
Foreigners are eligible to purchase and not subjected to ABSD as the subject property is zoned “Commercial”. The EOI exercise will close on January 29th at 3pm.
For further information, please contact:
Jeremy Lim, Senior Group District Director, Huttons Asia Tel: +65 8858 1212 | jeremylim9@gmail.com | R017809A Huttons Asia Pte Ltd (Licence No: L3008899K)
Aric Lim, Associate Senior Division Director, Huttons Asia Tel: +65 8383 2838 | Email: aricipad@gmail.com | R007953J Huttons Asia Pte Ltd (Licence No: L3008899K)
