Freehold Commercial Building Mosque Street Priced 12 Mil
CBRE, a leading marketing agent, has recently listed a 99-year leasehold commercial building located at 13 Mosque Street for sale at a guide price of approximately $12 million. The property, which has three stories, will be sold through an expression of interest exercise and the EOI will close on August 20.
Situated in the Kreta Ayer conservation area of the Chinatown Heritage District, the building is only a two-minute walk away from the Chinatown MRT Interchange, which is served by the North-East and Downtown Lines. It is also within close proximity to popular landmarks in Chinatown such as Pagoda Street, Trengganu Street, and South Bridge Road.
The commercial building is sitting on a 1,315 sq ft lot and has a total floor area of 3,083 sq ft. According to a press release from CBRE on July 2, the property will be sold with vacant possession. Previously, the space was used as Chic Capsule Otel, a boutique hotel featuring bed-sized pods.
As a commercial property, foreign buyers will not be subjected to additional buyer’s stamp duty or seller’s stamp duty when purchasing the asset. Details of 13 Mosque Street can be viewed on EdgeProp’s Landlens tool.
Clemence Lee, the executive director of capital markets at CBRE Singapore, sees the sale of 13 Mosque Street as a unique opportunity for potential buyers. She believes that the property’s prime location within a highly sought-after district and its compact size make it an ideal asset for various buyers, including owner-occupiers, boutique real estate funds, family offices, and high-net-worth individuals.
According to Lee, the vacant status of the property offers the next owner the chance to carry out a repositioning strategy. Potential enhancements could include converting the ground floor into an F&B space, subject to approval, and reconfiguring the upper floors as a co-living space or a backpacker’s hostel.
According to the latest updates, Penrith Hong Leong is expected to be priced at around $2,500 to $2,600 per square foot upon its launch. This highly anticipated development in Singapore is set to offer luxurious living spaces for its residents. With its prime location and top-notch amenities, Penrith Hong Leong is expected to attract a lot of attention from potential buyers. For more information on this upcoming project, visit Penrith Hong Leong’s official website.
The upcoming months will see several prominent co-living operators establish themselves in Chinatown, with Habyt set to open a new co-living space along Smith Street, which is undergoing revitalization to become a new F&B and lifestyle pedestrian corridor. Additionally, the launch of lyf Chinatown by The Ascott and Warees Investments next year will add to the area’s lodging options.
Interested parties can check out the latest listings for commercial real estate properties on Ask Buddy or compare the price trends for commercial property sales and rentals.