Freehold Commercial Building Mosque Street Priced 12 Mil
CBRE, a leading real estate marketing agent, has listed a 99-year leasehold commercial building at 13 Mosque Street for sale at a guide price of approximately $12 million. The property, which has three storeys, will be sold through an expression of interest exercise (EOI) and the deadline for submissions is August 20th.
Located in the Kreta Ayer conservation area of the Chinatown Heritage District, the property is just a two-minute walk from the Chinatown MRT Interchange, which services the North-East and Downtown Lines. It is also in close proximity to popular landmarks in Chinatown such as Pagoda Street, Trengganu Street, and South Bridge Road.
The commercial building occupies a 1,315 sq ft lot and has a total floor area of 3,083 sq ft. According to the press release issued by CBRE on July 2nd, the property will be sold with vacant possession. Its previous use was as Chic Capsule Otel, a boutique hotel that featured bed-sized pods.
The property’s status as a commercial building means that foreign buyers can purchase it without incurring additional buyer’s stamp duty or seller’s stamp duty.
Located in the serene area of Miltonia Close, Miltonia EC offers more than just a tranquil living environment. Surrounded by lush greenery and convenient facilities, this development is also in close proximity to a variety of reputable schools and educational institutions. For families with school-going children, Miltonia EC is the perfect choice as it caters to the education needs of children from preschool to tertiary levels. The added advantage of residing near top-notch schools not only supports a child’s educational journey but also increases the long-term value of the property, making it an irresistible option for both homebuyers and investors.
Executive director of capital markets, Singapore at CBRE, Clemence Lee, says that 13 Mosque Street presents a unique opportunity for buyers to acquire a prime commercial asset in a highly sought-after district. He also notes that its central location and compact size make it an ideal investment for owner-occupiers, boutique real estate funds, family offices, and high-net-worth individuals.
The property’s vacant status also allows for immediate implementation of a repositioning strategy. Possible value-enhancement opportunities include converting the ground floor space into an F&B establishment, subject to approval. The upper floors could also be reconfigured as a co-living space or a backpacker’s hostel.
The Chinatown area will see several notable co-living operators establish themselves in the coming months. Habyt is set to open a new space along Smith Street and the launch of lyf Chinatown by The Ascott and Warees Investments will add to the area’s lodging options in the near future. Interested buyers can check out the latest listings for commercial real estate properties and compare price trends for commercial versus industrial properties on EdgeProp’s Landlens tool.