Savills Singapore, as the exclusive marketing agent, is proud to offer for sale numbers 1,3,5,7,9 Club Street – a standalone island-site of 5 adjoining shophouses, situated in the heart of the Central Business District within the Telok Ayer Conservation Area.
The island-site consists of 2 land titles - numbers 1,3,5 Club Street, which are three storeys high with an attic, and numbers 7 & 9 Club Street which are two storeys high. The shophouses sit on a combined land of approximately 3,557 sq ft, with an estimated total built up area of approximately 7,225 sq ft. They come with rare F&B approvals for the entire ground floor and are leased to popular operators such as Merci Marcel Bistro, Parallel Coffee Roasters and Yen Bar, whilst the upper floors are offices occupied by multinational corporation tenants.
The row of five shophouses command a prominent 50 metre-wide triple road frontage along Cross Street, Club Street and Gemmill Lane with excellent visibility around the clock. Situated right across Far East Square and Cross Street Exchange, the Property also enjoys excellent accessibility with Telok Ayer MRT Station just 150m away. The island-site is poised to further benefit directly from the increased footfall and traffic on completion of 8 Club Street Hotel, located right across the Property, by end 2022.
Located within the Club Street / Ann Siang Hill F&B enclave, this hotspot is a charming area by day and buzzing enclave by night. The area has reinvented itself over the years to become a posh locale peppered with distinctive, well-preserved shophouses housing quaint shops, eating places and lifestyle establishments. The interconnected roads of Club Street, Gemmill Lane and Ann Siang have all you need for a recharge. The area has quickly become one of Singapore’s trendiest F&B destinations amongst locals and expats from the prominent commercial and residential landmarks at the heart of the CBD. Some popular establishments within the vicinity include Le Bon Funk, Catfish, The Feather Blade, The Coconut Club and Club Street Wine Room.
Sophia Lim, Associate Director, Investment Sales & Capital Markets at Savills Singapore, said: “Hardly ever on the market, a standalone island site boasting prominent triple road frontages in the beating heart of the Central Business District are far and few between. This is a rare and limited opportunity to acquire a charming flagship island-site of five beautifully restored adjoining shophouses with potential naming and signage rights. Given its rarity as an island-site coupled with its excellent locational attributes, this property will be well sought-after by astute buyers who appreciates its strong underlying value.’’
The precinct is also poised to welcome a new hotel development: 8 Club Street by Worldwide Hotels Group scheduled to complete at the end of 2022. Situated directly across the Property, the 19-storey upscale hotel, with expected 900 rooms and commercial spaces, will further inject vibrancy and drive footfall to the Club Street enclave. The new hotel development will also provide direct sheltered access via an underground pedestrian link to Chinatown MRT (NE4 / DT19), further increasing connectivity of the Property.
‘’Situated right across from the upcoming 8 Club Street Hotel, the incoming purchaser can expect to enjoy further rental and capital value upside from the Property, benefiting from the increased footfall and vibrancy in the near term. This presents an exceptional opportunity to acquire a flagship property in an exciting and fast-growing precinct that is still undergoing urban transformation.’’ Ms Lim added.
As this row of five adjoining shophouses sits on land zoned for ‘Commercial’ use, foreigners and companies are eligible to purchase the properties. There is no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the purchase of the properties.
The guide price for numbers 1,3,5,7,9 Club Street is $28.5 million, which translates to approximately $3,945 per square foot of the floor area.
The sale will be conducted through an Expression of Interest exercise which closes on Tuesday, 29 March, at 3pm.
For a video of the property, please click here