Two District 1 Properties Along Hongkong Street For Sale Via Expression Of Interest

Singapore, 20 February 2025 – CBRE, as the exclusive marketing agent, is offering for sale two properties along the bustling Hongkong Street in Singapore’s District 1. The sale will be conducted via an Expression of Interest exercise which closes on Wednesday, 26 March 2025, at 3pm.

7 Hongkong Street is a six-storey boutique hotel that has a land area of approximately 1,701 square feet and a total floor area of about 7,142 square feet. Zoned for “Hotel” use with a Plot Ratio of 4.2 under the Urban Redevelopment Authority (URA) Master Plan 2019, it is a 99-year leasehold property with a balance land tenure of around 89 years. The property is currently operated under the Hotel Clover branding and features a total of 27 rooms. The guide price for 7 Hongkong Street is S$27 million or S$3,780 psf.

Meanwhile, 36 Hongkong Street, which sits on a 1,733 square feet 99-year leasehold site with a balance land tenure of around 93 years and has a total floor area of about 7,279 square feet, is a 5-storey commercial building that is currently fully leased out to a bridal shop on the ground floor and offices on the upper floors. It is zoned for “Commercial” use with a Plot Ratio of 4.2 under the URA Master Plan 2019. The guide price for 36 Hongkong Street is S$22.6 million or S$3,105 psf.

As these are hotel and commercial properties, foreigners and companies are eligible to purchase both assets and there will be no Additional Buyer's Stamp Duty (ABSD) or Seller's Stamp Duty (SSD) applicable on the transactions.


Pictured above: 7 Hongkong Street


Pictured above: 36 Hongkong Street

Mr Clemence Lee (利伟强), Executive Director of Capital Markets, Singapore at CBRE says, “The two boutique buildings offer buyers exceptional opportunities to invest into Singapore’s resilient real estate market in a prime Central Business District (CBD) location that will offer immediate and stable rental income. Both assets have relatively more attractive remaining land tenures as compared to majority of other 99-year leasehold properties that are available for sale in the CBD area. They will also be ideal for owner-occupiers who are seeking a flagship asset of a palatable quantum with naming rights for their exclusive operations.”

Flanked by two renowned entertainment destinations in Singapore - Boat Quay and Clarke Quay - and within close proximity of the core Central Business District (CBD) area, the properties’ strategic location in an established mixed-use lifestyle precinct home to several acclaimed restaurants and bars, boutique hotels, and fitness studios amongst others. The area is regularly patronised by locals, tourists, as well as the working population in the vicinity. The Clarke Quay MRT station is also just a short three-minute walk away, offering excellent connectivity to other parts of Singapore.

Mr Lee adds, “7 and 36 Hongkong Street present excellent potential for future rental upsides and capital appreciation in the medium to long term. With the completion of the revamped CQ @ Clarke Quay which underwent a $62 million asset enhancement initiative to transform it into a day-and-night destination, and two upcoming large-scale integrated developments nearby – CanningHill Piers and Union Square, they are well-positioned to benefit from the ongoing rejuvenation of the surrounding areas that will inject further vibrancy into the already-thriving locale.”