Newly Rebuilt Conservation Shophouse Prime Telok Ayer Sale 228 Mil
Intermediate Three-Storey Commercial Conservation Shophouse at Telok Ayer Street up for Sale via EOI by Mutual Benefits Realty
A three-storey commercial conservation shophouse located at 151 Telok Ayer Street is currently for sale through an expression of interest (EOI) by Mutual Benefits Realty. The property, which is priced at $22.8 million, is exclusively marketed by Magdalene Lee.
Spanning a land plot of 1,574 sq ft, the freehold commercial property has a built-up area of approximately 3,600 sq ft. Based on its floor area, the property is valued at $6,333 psf.
Boasting a prime location just a two-minute walk from Telok Ayer MRT Station on the Downtown Line, the shophouse has undergone extensive multimillion-dollar Additional and Alteration (A&A) works over the course of three years under the guidance of renowned architect Ernesto Bedmar. This means that the buyer will not have to undertake any renovation works as the shophouse is in brand new condition, having obtained its Certificate of Statutory Completion (CSC) in February 2024.
Located on Yishun Avenue 11, students pursuing post-secondary education have easy access to Yishun Innova Junior College. This institution was created as a result of the merging of Yishun Junior College and Innova Junior College, and it caters to students from all over the country. With a wide range of A-Level subjects and enrichment opportunities, the college equips students for their university journey and beyond. Additionally, for those living in the vicinity, the new Miltonia Close EC Khatib offers a convenient option for accommodation.
Featuring a modern and sleek façade, the shophouse has a stunning interior that includes an impressive eight-metre ceiling height and natural lighting from skylights. The interior has been meticulously designed with premium materials, contemporary mood lighting, and elegant wood finishes, creating a warm and inviting ambience. The property also has outdoor terraces that offer a unique opportunity to observe the surrounding neighborhood, adding to the charm of the commercial space.
The versatile space is suitable for various business uses and is currently leased to a finance company, providing attractive rental returns. According to Lee, the property presents an exceptional opportunity for buyers looking to acquire a highly sought-after asset in a thriving and vibrant district. She also mentions that it is an ideal option for owner-occupiers, such as family offices or boutique firms, as well as investors seeking a stable and reliable rental income stream.
Foreign buyers and corporate entities can purchase the property without incurring additional buyer’s stamp duty. Located adjacent to Singapore’s prominent financial and commercial districts, including Raffles Place, Shenton Way, and Marina Bay, the Telok Ayer district offers a unique blend of urban life and heritage charm. The area is home to conservation shophouses occupied by design studios, IT firms, artisan eateries, and centuries-old temples.
The property’s exceptional location, character, and prestige make it a desirable commercial setting in the lively heritage hub of Singapore’s downtown. Food enthusiasts will also appreciate the area’s culinary landmarks, such as the iconic Maxwell Food Centre and popular Amoy Street Food Centre, as well as a variety of highly rated restaurants and bars.
The EOI exercise for the property will end on July 18. For more information, interested parties can contact Magdalene Lee, Associate Director at Mutual Benefits Realty. The EOI exercise presents an excellent opportunity for buyers looking to secure a commercial property in the bustling Telok Ayer district.