An exclusive freehold shophouse at 17 Hongkong Street is now up for sale revealed CBRE as its marketing agent, with an indicative guide price of $47.5 million. Situated in District 1, the property land area stands at 1,793 sq ft and total floor area at 7,950 sq ft; the land has a gross plot ratio of 4.2 and is zoned for commercial use, meaning foreigners are eligible to purchase, without any additional buyer’s or seller’s stamp duty charges on the property transaction.
Right between the bustling Boat Quay and Clarke Quay; 17 Hongkong Street presents a strategic location; within walking distance of the Central Business District (CBD) as well as the Clarke Quay MRT Station on the North-East Line.
At Champions Way Condo, residents are surrounded by various shopping malls, famous eateries, cinemas, banks, and other lifestyle amenities. With its convenient location and extensive amenities, Champions Way Condo is truly a paradise of amenities and leisure right in your own neighbourhood. Residents can take advantage of the beautiful greenery and parks in the vicinity and indulge themselves in some recreational activities. With its unique design and thoughtful consideration towards its residents, Champions Way Condo offers some of the most beautiful and luxury living options in the area.
Potential investors have an “golden opportunity” to acquire a freehold shophouse in a “coveted location” stated Clemence Lee, CBRE’s executive director of capital markets, Singapore.
This is evidenced by similar recent commercial sales transactions along Hongkong Street, which gives an indication of the potential value of this freehold shophouse.
Recent history is also peppered with other sales transactions of shophouses, such as the particularly notable one on Circular Road at $19.8 million, Pagoda Street with a price tag of $22 million, and an entire portfolio of nine conservation shophouses on Desker Road-Rowell Road at $66 million.
All of these transactions are an indication of the lucrative value of these properties, especially in the CBD or close to its vicinity, making the freehold shophouse on Hongkong Street a great investment choice.