The three-storey shophouse for sale has a guide price of $3,552 psf. (Picture: PropNex Realty)
SINGAPORE (EDGEPROP) - A 999-year leasehold shophouse at 93 Club Street is on the market for $9.9 million. The three-storey property has a total built-up area of 2,787 sq ft and the guide price translates to $3,552 psf on the built-up area. PropNex Realty is the sole marketing agent for the transaction.
Read more: The House of Lim at Club Street
The shophouse is prominently located at the junction of Ann Siang Hill and Club Street in District 1. The property is close to the upcoming Maxwell MRT station on the Thomson-East Coast Line, as well as the existing Telok Ayer and Chinatown stations on the Downtown Line.
The shophouse sits on a site that is zoned ‘Commercial’ under the 2019 Master Plan. However, the ground floor of the shophouse is approved for restaurant use while the second floor has approval to operate as a shop serving take-away food. (See: Find Singapore commercial properties with our commercial directory)
“This property presents a rare long-term investment opportunity in this coveted area where F&B shophouses are tightly-held,” says Loyalle Chin, senior associate division director, PropNex Realty.
Recent shophouse transactions in the area include 44 Club Street which was sold for $12.35 million on July 12 this year, and 46 Club Street which changed hands for $13.15 million on the same day.
The sale of 93 Club Street is “probably the lowest quantum for a 999-year F&B shophouse in the Telok Ayer Conservation Area under S$ 10 million,” says Chin. He expects keen interest from investors and end-users who are looking to locate their business or family office.