Savills Singapore, as exclusive marketing agent, is pleased to present the sale of 15 Ann Siang Road, a commercial shophouse with rare F&B approval situated amidst the exclusive Ann Siang/Club Street enclave.
Located on Ann Siang Hill, the property sits on elevated ground and has a land area of approximately 1,302 sq ft and an estimated gross floor area of 2,476 sq ft. Discerning buyers will find that the property exudes a distinctive historical charm, evident in its preserved architectural features and timeless elegance. Its vintage façade and classic interior elements tell a story of a bygone era, while modern updates seamlessly blend the old with the new, providing both comfort and style.
The ground floor is currently occupied by a high-quality F&B tenant whose lease is nearing expiration, providing the incoming investor with ample opportunity to exercise a rent review upon the transaction’s completion. Meanwhile, the second floor features largely underutilised space, presenting the incoming investor with the potential for light refurbishments that could significantly enhance rental yields.
The prestigious Ann Siang enclave once served as an important gathering place for Straits Chinese elites in the early 20th century. The exclusive social clubs and clan associations located there attracted Singapore’s high society who played an important role in the country’s economic, social and cultural development. The Chinese Weekly Entertainment Club at 76 Club Street, also known as the Millionaires Club, was the most prestigious one there.
Today, trendy restaurants, offices and boutiques occupy these elegantly restored pre-war shophouses, terraces and five-foot walkways. Some of the famous restaurants and cafes in this enclave include Lolla (22 Ann Siang Road), Les Bouchons (7 Ann Siang), Le Bon Funk (29 Club Street) and NOX (83 Club Street).
Nestled right in the heart of the financial district, the shophouse enjoys seamless connectivity with four MRT stations, namely the newly opened Maxwell MRT Station (Thomson-East Coast Line), Telok Ayer MRT Station (Downtown Line), Chinatown MRT Interchange Station (North-East and Downtown Lines), and Tanjong Pagar MRT Station (East-West Line) - all located within a 500-metre radius.
Ms. Yap Hui Yee, Executive Director, Investment Sales & Capital Markets at Savills Singapore, shares: “A melting pot of old and new, Ann Siang Hill is not just one of Singapore’s quirkiest hipster enclaves; it is richly steeped in history. With the property sitting within a location that is undeniably one of Singapore’s most popular hotspots, coupled with its seamless accessibility and CBD locale, this places the asset in a class of its own - a unique blend of heritage and modernism.”
The guide price for 15 Ann Siang Hill is S$12.38 million. Foreigners and companies are eligible to purchase the property and no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) will be imposed.
Ms. Yap adds: “This is a truly exceptional opportunity for buyers to own this prized asset in an exciting district with a very palatable quantum. It presents a great option for owner-occupiers such as family offices who are looking to acquire commercial property to use as their own office premise or investors who are looking to purchase property with a stable rental income stream.”
The sale will be conducted through an Expression of Interest exercise, which closes on Wednesday, 30 October 2024, at 3pm.