_Two adjoining Telok Ayer Street conserved shophouses for sale by Expression of Interest (EOI)
Singapore, 18 March 2024 – International property consultancy Knight Frank Singapore is pleased to announce a rare trophy asset of two adjoining conserved shophouses in the heart of the Telok Ayer Conservation Shophouse enclave for sale by Expression of interest (EOI).
The three-storey shophouses, each with an attic, come with a rare 999-year lease and span a total land area of 2,842 sq ft and a total floor area of approximately 7,923 sq ft.
The subject property is located at the junction of Telok Ayer Street and Boon Tat Street with a wide variety of retail and commercial amenities at its doorstep. Major office buildings within the Central Business District, Hong Lim Market and Food Centre and Lau Pa Sat are located close by. A large catchment area with office crowds, residents from nearby developments such as Marina Bay suites and Shenton Way, and even the tourists who flock to this prime District 1 area promise good footfall.
An added attraction of the location is its easy access to major transport nodes and proximity to Telok Ayer, Chinatown and Maxwell MRT Stations, and major expressways such as the Marina Coastal Expressway (MCE), Central Expressway (CTE), and Ayer Rajah Expressway (AYE).
The properties come with existing tenancies of popular F&B outlets on the ground floor and offices on the upper floors. As fully commercial assets, they are open to both local and foreign investors as Seller Stamp Duty and Additional Buyers’ Stamp Duty do not apply.
Notable transactions of shophouses in D1 include 94 Amoy Street at $5,999 psf on GFA and 35, 37 Ann Siang Road at $4,899 psf on GFA. Meanwhile, the last transacted shophouse along Telok Ayer Street was in September 2021 at approximately $5,516 psf on GFA.
Ms Mary Sai (蔡竺樾), Executive Director, Capital Markets, Knight Frank Singapore (执行董事,资本市场部, 莱坊), comments: “Shophouses with 999-year long tenures are not only limited in supply but recognised for their ability to preserve capital as an investment asset. And with most shophouses located along Telok Ayer Street tightly held and rarely made available for sale, this launch presents a good opportunity to own some of Singapore’s most coveted real estate.”
Interested parties have the option of buying one shophouse, or both. The closing date for this EOI is Tuesday 30 April, 3:00 PM.
Photo for use:
Source: Knight Frank
For further information, please contact:
Mary Sai
Executive Director, Capital Markets( Land & Building, International Real Estate)
Knight Frank Singapore
mary.sai@sg.knightfrank.com | +65 9388 7879 | +65 6228 6886
Lilian Hoe
Director, Marketing, Communications, Legal and Compliance
Knight Frank Singapore
lilian.hoe@sg.knightfrank.com | +65 6228 6807
Notes to Editors
About Knight Frank
Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 25,728 people operating from 604 offices across 58 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants.
For further information about the firm, please visit knightfrank.com. Knight Frank has a strong presence in Singapore with a head office and two subsidiaries: Knight Frank Property & Facilities Management and KF Property Network. For further information about the Company, please visit www.knightfrank.com.sg.