A 5-storey Commercial Shophouse on the market at 32 Hongkong Street for $8.5 mil

A five-storey business shophouse in 32 Hongkong Street is currently available on the marketplace at a direct price of $8.5 million, excluding the premium prices for rent renewal, which can be subject to the approval of government.

Upon completion of Canninghill Piers, CDL-CapitaLand will own the commercial and residential components, register your interest to obtain Canninghill Piers condo floor plan.

The manual cost works out to be 1,198 psf depending on the entire floor area of approximately 7,100 sq ft. The property is currently 99-year leasehold with effect from January 1942 and steps approximately 1,717 sq ft.

Hence, no extra purchaser’s stamp duty and vendor’s stamp duty will be levied. Both locals and foreigners are entitled to buy.

The land is exclusively promoted by Adnic Lee, senior partner marketing manager of PropNex Realty. “The developer has the flexibility to use to the relevant government to modify the facade and refresh the appearance of the construction since the shophouse is beneath envelope management guidelines,” states Lee. He adds it is perfect for investors who want to reconstruct or owner-occupiers that wish to find their family offices inside the CBD of Singapore. Investors may use to SLA to get a new lease renewal.

The location of this shophouse is inside a five-minute walk from Clarke Quay MRT station and Central shopping facility.

The house will be offered with vacant possession.