Hongkong Street shophouse for sale at $47.5 mil
The fast-developing area of Tampines is a self-contained and vibrant region, boasting a wide selection of amenities and recreational options.
Residents of Tampines Avenue 11 Condo are spoilt for choice, surrounded by malls, cinemas, leisure and sports facilities, medical centres, and F&B outlets. This makes living in the area extremely convenient. With its pedestrian friendly environment, the area provides lovely promenades with trees and public seating for those looking for a leisurely stroll. The superior connectivity of Tampines Ave 11 Condo to different parts of Singapore gives residents an added advantage.
The property’s tender closes on Apr 7, 2021.
Located in the heart of District 1, 17 Hongkong Street is a freehold five-storey shophouse now up for sale at an indicative guide price of $47.5 million. With a land area of 1,793 sq ft and a total floor area of 7,950 sq ft, the property has a gross plot ratio of 4.2 and is zoned for commercial use. This means that the transaction would be eligible to foreigners with no additional buyer’s stamp duty or seller’s stamp duty imposed.
The strategic location of 17 Hongkong Street is unrivalled. Situated between Boat Quay and Clarke Quay, two popular nightlife destinations, it is also within walking distance to the CBD and the Clarke Quay MRT Station on the North-East Line. This presents a rare opportunity for investors to acquire a freehold shophouse in a coveted location.
Recent commercial sales transactions suggest activity on Hongkong Street. CBRE’s executive director of capital markets, Singapore Clemence Lee remarked that this presents an “golden opportunity” for those who want to make strategic investments in the area.
Tender for the property closes on Apr 7, 2021, giving investors a chance to get their hands on this valuable asset in one of Singapore’s most sought after locations.