CBRE is the appointed marketing agent for the sale of the 27-room Hotel Clover at 7 Hongkong Street and a commercial building at 36 Hongkong Street, with respective guide prices of $27 million and $22.6 million. Both properties offer an excellent opportunity for investors looking to enter the CBD market. The boutique hotel, sitting on a 1,701 sq ft plot with a plot ratio of 4.2, is zoned for commercial use and has a remaining land tenure of 89 years. It features six storeys and a total floor area of 7,142 sq ft, with a corresponding price of $3,780 psf. The adjacent five-storey commercial building is also listed for sale, with a guide price of $22.6 million. It sits on a plot measuring 1,733 sq ft and has a similar plot ratio of 4.2, as well as a remaining land tenure of 93 years. The total floor area of this property is 7,279 sq ft, translating to a price of $3,105 psf. Fully occupied by a bridal shop and offices, this building is an attractive investment opportunity. The CBD location of both assets, combined with their appealing remaining land tenures and plot ratios, make them suitable for those seeking a flagship asset with naming rights and potential for rental growth and capital appreciation. Eligible for purchase by foreigners and companies without incurring ABSD or SSD, these properties are situated in the vibrant Clarke Quay area, home to a variety of eateries, bars, boutique hotels, and fitness studios. Major nearby developments, including CQ@Clarke Quay and Canninghill Piers, further enhance the appeal of the location. Prospective buyers can submit their interest by March 26. For more information on commercial and industrial properties, visit our website or speak to our experts at CBRE.
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Investing in a condominium in Singapore offers various benefits, one of which is the potential for capital appreciation. This Southeast Asian country is known as a global business hub and boasts a robust economy, making it a desirable location for real estate investment. The demand for properties in Singapore remains consistently high, driving property prices upwards. This trend has been evident over the years, particularly in prime locations where condominiums have experienced significant appreciation. By carefully timing their investments and holding onto their properties for extended periods, investors can reap the rewards of substantial capital gains. Keep track of New Condo Launches to stay updated on the latest opportunities in the market.