Singapore
999-year Club Street F&B-Approved Conservation Shophouse and Freehold Corner Shophouse In Kovan Up For Sale
August 15, 2023
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93 Club Street
Strategically located in Singapore’s prime District 1, 93 Club Street occupies a land area of 801 square feet and has an approximate built-up area of 2,787 sf across three levels. Zoned “Commercial” under the 2019 Master Plan, the shophouse is located within the Chinatown–Telok Ayer Conservation Area. The shophouse has been approved for F&B on the ground floor and is ideal for an incoming owner to leverage on the bustling F&B scene in the area.
Once an exclusive enclave for affluent Chinese communities, Club Street has today evolved into one of Singapore’s trendiest district characterised by a rich mix of F&B and retail offerings, as well as a dynamic entertainment scene. The area is readily accessible within 5-minutes’ walks from three different MRT stations including Maxwell MRT (240m), Telok Ayer MRT (400m) and Chinatown MRT (400m).
The indicative guide price for 93 Club Street is S$12.8 million. As this is a commercial property, there will be no Additional Buyer's Stamp Duty (ABSD) or Seller's Stamp Duty (SSD) imposed on the transaction. Recent commercial conservation shophouse transactions in the Club Street / Ann Siang Hill enclave include 51 Club Street ($92.2 million), 35 & 37 Ann Siang Road (circa $27.2 million), 45 Ann Siang Road ($43.0 million) and 80 Club Street ($13.0 million).
36 Yio Chu Kang Road
36 Yio Chu Kang Road is single-storey corner shophouse located in the heart of Kovan and boasts a prominent wide dual frontage of approximately 40 metres along Yio Chu Kang Road and Highland Road. Zoned “Commercial and Residential” with plot ratio of 3.0 under the 2019 Master Plan, the shophouse sits on a land area of 3,479 sf and is currently fully-leased to an established children swim school that occupies a total floor area of 2,320 sf.
Surrounded by residential estates, the Asset has immediate access to a large residential catchment which is strategic to its high rental command. With limited competing amenities in the vicinity, commercial spaces like 36 Yio Chu Kang are highly sought-after by tenants of all profiles including trades such as F&B, convenience stores, healthcare and education amongst others.
The shophouse is well-served by a bus stop located close by and conveniently accessible within 5 minutes’ drive or a bus ride of two stops to the nearest MRT Station, Serangoon MRT. Car parking is readily available along the side road to the shophouse and also at a public carpark at Serangoon Stadium – directly across the road from the shophouse.
The indicative guide price for 36 Yio Chu Kang Road is S$7.6 million.
Mr Clemence Lee (利伟强), CBRE Executive Director of Capital Markets, Singapore says, “Freehold and 999-year shophouses in Singapore are prized for their scarcity and exceptional potential for capital appreciation and wealth preservation. Both 93 Club Street and 36 Yio Chu Kang Road have their own distinct appeals, presenting excellent prospects for keen investors looking to acquire more freehold or 999-year assets.
93 Club Street comes with the prestigious District 1 address which has traditionally been highly sought-after by shophouse investors for their prime location and strong rental demand. The shophouse would be an excellent property for owner-occupiers to house their operations such as family offices, which have increasingly picked the Club Street / Ann Siang Hill enclave as their headquarter location to move into.
For 36 Yio Chu Kang Road, the asset offers a great opportunity for investors who are looking to buy into prime suburban commercial properties. Corner commercial spaces like 36 Yio Chu Kang Road are highly sought-after trophy assets and tightly-held.
Apart from its prominent dual frontage, the asset also benefits from excellent attributes including amongst others, ample natural light that comes in through full-height windows that span both sides of the shophouse, generous ceiling heights as well as an efficient and versatile layout that can be reconfigured to suit occupiers’ requirements.
The assets are available for sale either individually or collectively, which presents a rare opportunity for an investor to add two excellent freehold / 999 year properties into an existing real estate portfolio.”
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2024 revenue). The company has more than 140,000 employees (including Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves clients through four business segments: Advisory (leasing, sales, debt origination, mortgage servicing, valuations); Building Operations & Experience (facilities management, property management, flex space & experience, digital infrastructure services); Project Management (program management, project management, cost consulting); Real Estate Investments (investment management, development). Please visit our website at www.cbre.com.