SINGAPORE, 13 MAY 2019 – Cushman & Wakefield has been appointed as the marketing agent for the sale of a three-storey conservation shophouse with mezzanine at 93 Club Street.
The 999-year shophouse is situated within the heritage district of “Chinatown-Telok Ayer” in the Central Business District (CBD). Zoned “Commercial” under the Master Plan 2014, the property sits on a land area of about 800.8 sq ft and has an estimated floor area of about 2,885 sq ft.
Club Street was historically a haven to a number of exclusive trade guilds and elite social clubs such as the Chui Lan Teng Club, Ee Hoe Hean Club and the Chinese Weekly Entertainment Club, from which it acquired its namesake. Today, the precinct is a vibrant and bustling destination with a wide variety of trendy cafes, restaurants, bars, galleries and entertainment joints, attracting both locals and tourists alike.
According to Mr Shaun Poh, Executive Director of Capital Markets at Cushman & Wakefield, “The shophouse is positioned in a prime central location within the city centre and just a stone’s throw from the upcoming Maxwell MRT station. It presents an excellent opportunity for investors such as boutique funds, family offices and shophouse collectors or end-users such as F&B operators and business owners to acquire a limited piece of heritage asset within the CBD.”
“There is also tremendous potential for rental and capital upside given the anticipated growth in tourism footfall
following the expected completion of several new hotel developments in the immediate vicinity.”
Foreigners are eligible to purchase the property and Additional Buyer’s Stamp Duty (ABSD) is not applicable.
The property will be sold with existing tenancy.
The sale is being conducted through an Expression of Interest exercise which closes on 11 June 2019 at 3 p.m.
For further Information, please contact:
Executive Director, Capital Markets
+65 6232 0882
Associate Director, Communications, Singapore
+65 6317 8349
About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global real estate services firm that delivers exceptional value for real estate occupiers and owners. Cushman & Wakefield is among the largest real estate services firms with approximately 51,000 employees in 400 offices and 70 countries. In 2018, the firm had revenue of $8.2 billion across core services of property, facilities and project management, leasing, capital markets, valuation and other services. To learn more, visit www.cushmanwakefield.com or follow @CushWake on Twitter.