Singapore 28 February 2017 –
CBRE is pleased to launch the Public
Tender sale of a portfolio comprising 3 commercial shophouses in Holland
Village, Chinatown and Kampong Glam. Buyers are given the flexibility to bundle
up all 3 properties into a single purchase or individual properties.
22/22A Lorong Mambong, Holland
22/22A Lorong Mambong is a
2-storey corner commercial building strategically located in the heart of
Holland Village – one of Singapore’s most distinctive and vibrant lifestyle
destinations set amidst an affluent residential enclave.
This is a rare freehold property that sits
prominently on a corner site of approximately 1,976 square feet and comes with
a total built-up area of approximately 3,354 square feet. The Property enjoys
dual road frontage with excellent visibility. The premises are fully tenanted
and come with rare ‘Restaurant with Live Music’ approval on the ground floor
and ‘Fitness Centre’ approval on the upper floor.
The Property enjoys close proximity to the
Holland Village Circle Line MRT station, and is well-connected to major hubs
such as Buona Vista Sub-regional Centre, One-North, National University of Singapore and the Central Business District via
expressways and major arterial roads.
Sammi Lim, Director,
Capital Markets, CBRE said, “Following CBRE’s successful sale of 7 adjoining
units of ground floor retail space and 8 units of second floor shops in Holland
Village Shopping Centre last year at an average price of approximately $5,000
per square foot, and URA’s announcement of the Holland Village Extension Plan,
we have observed robust interest from buyers seeking compelling purchase
opportunities in Holland Village. The affluence of Holland Village, combined
with the new wave of redevelopments and continued transformation, have steered
buyers’ attention to this next hotspot with strong potential for future growth.
It is rare for a unit to come up for sale in this location.”
The URA is offering a
unique opportunity to grow Holland Village with new, mixed-use developments
that would add to the vibrancy of Holland Village as a great place to live,
work and play. The area continues to rejuvenate, with Raffles Medical being the
latest addition to the precinct to offer a wide array of healthcare amenities,
retail and F&B establishments. The injection of additional medical
facilities, public gardens, parks and retail offerings is expected to spur
another transformation. This should bring about tremendous potential for the
area, and businesses are expected to grow and enjoy a significant increase in
“We are confident that
this property will garner keen interest amongst end users and savvy investors
from locally and overseas, especially Hong Kong, China and Indonesia buyers,
who are familiar and eager to acquire prime commercial space in Singapore.” Ms
and 56 Pagoda Street, Chinatown
54 and 56 Pagoda Street is a
pair of charming prime 3-storey shophouses with an attic level located on the
vibrant Pagoda Street in Chinatown - an important precinct that reflects
Singapore’s rich heritage history set amidst a street of quaint conservation
shophouses. Nestled in the heart of Singapore’s Central Business District, the
area also offers an eclectic mix of F&B outlets, retail and entertainment
establishments to commercial tenants in the vicinity and tourist visitors.
Prominent landmarks in the vicinity include People’s Park Complex, Yue Hwa
Emporium and Chinatown Point.
The Properties, with
their own unique architectural heritage and character, sit on 2 contiguous land
lots, forming a combined rectangular site with total area of approximately
3,010 square feet and total built-up of approximately 9,226 square feet. The
ground floors are tenanted to 2 retail shop operators and enjoy immediate large
catchment of tourists with voluminous foot traffic; the upper floors are leased
to reputable multi-national corporations in the advertising and media
The shophouses are
located less than 50 metres from the Chinatown MRT Interchange Station and enjoy
direct sheltered access to the station. Located within the Central Business
District (CBD), the property is within a short walk to the Raffles Place
district. It is easily accessible to other parts of Singapore via the Central
Expressway (CTE), Marina Coastal Expressway (MCE) and Ayer Rajah Expressway
Ms Lim said, “Shophouses
in Chinatown district are always highly sought after due to their rich history
and extremely high volume of visitors. This is reflected in the recent
successful sale of 21 Temple Street at $9.5 mil, or $2,800 per square foot over
the gross floor area and the sale of 205 & 207 New Bridge Road, a pair of
shophouses located at the junction of New Bridge Road and Pagoda Street at
$20.5mil for $3,535 per square foot over the gross floor area.”
780 North Bridge Road, Kampong
780 North Bridge Road is a
prime 2-storey conservation shophouse situated in the heart of Kampong Glam
Conservation Area/Ophir-Rochor Corridor, and comes with a freehold tenure.
The site area is approximately 1,260 square feet and has a
total floor area of approximately 1,900 square feet. The property is zoned for
full ‘Commercial’ usage under the 2014 Master Plan, within the Kampong Glam
Conservation Area. The shophouse is fully tenanted.
Prominently located along
prime North Bridge Road, the property enjoys high visibility with excellent
main road frontage. In addition, it is flanked by the bustling arts, culture,
learning and entertainment precinct of the historic district of Kampong Glam
Conservation Area. The Ophir-Rochor Corridor which is ear-marked as a new
growth area and a natural extension from the Marina Centre is also expected to
inject additional vibrancy to complement the existing financial districts at
Raffles Place and Marina Bay.
developments including South Beach and the upcoming DUO and City Gate are also
located within close proximity. These developments consist of a mix of
residential, commercial, office and/or hotel components, which will contribute
further to the already voluminous pedestrian traffic flow.
We expect the sale to
garner interest from owner-occupiers looking to purchase their own boutique
building. Other possibilities of use include; retail outlets, F&B
(take-away) establishments, creative outfits, showrooms, education or
Ms Lim said, “This is a
valuable opportunity for any buyer who wants to claim a stake in this
commercial portfolio. All three properties are situated in strategic locations
and come with attractive rental income. Buyers will be pleased to know that
they are given the option to purchase the properties on a piecemeal or bulk
With increasing demand
from owner-occupiers seeking commercial properties in prime locations, we
envisage strong interest from end-users who aspire to acquire the subject
property as their corporate premises. Interest is also expected to be garnered
from both local and foreign investors who are actively seeking to acquire charming
commercial shophouses with unique architectural design and stable rental income
stream, with a view for capital appreciation in the medium to long term. This
is a unique asset class with limited supply and we have observed increased
interest from the market. Prices are expected to remain resilient in the long
As all the properties are
zoned as ‘Commercial’, this purchase is open to both local and foreigners with
no Additional Buyers’ Stamp Duty (ABSD) or Sellers’ Stamp Duty (SSD) imposed on
the purchase of the site.
CBRE is the sole
marketing agent for this Public Tender exercise.
The Public Tender
exercise will close on 28 April 2017, Friday at 3pm.
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Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world’s largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.