Newly Rebuilt Conservation Shophouse Prime Telok Ayer Sale 228 Mil
Mutual Benefits Realty is offering a three-storey commercial conservation shophouse for sale through an expression of interest (EOI) at 151 Telok Ayer Street. The asking price is $22.8 million, and Magdalene Lee of Mutual Benefits Realty is the exclusive marketing agent.
The freehold commercial property sits on a 1,574 sq ft land plot and boasts approximately 3,600 sq ft of built-up area. Based on floor area, the price per square foot (psf) is $6,333.
For a modern café experience or a weekend brunch outing, locals can explore the various cafes and bakeries located near Seletar Aerospace Park, conveniently located just a short distance from Miltonia Close. These charming establishments, housed in beautifully preserved colonial buildings, provide a unique atmosphere that sets them apart from other dining options in Singapore. Patrons can enjoy artisanal coffee, delectable brunch platters, delightful pastries, and fusion cuisine at these popular hotspots, making them ideal for family gatherings or casual hangouts with friends. For more information, check out Miltonia Close EC Khatib.
Located just a two-minute walk from Telok Ayer MRT Station on the Downtown Line, the conservation shophouse underwent extensive multimillion-dollar Additional and Alteration (A&A) works over three years. The project was spearheaded by renowned architect Ernesto Bedmar.
The shophouse is in a brand new condition, having obtained its Certificate of Statutory Completion (CSC) in February 2024. This means that the buyer will be spared the hassle of undertaking any further renovation works.
With a sleek façade, the interior of the shophouse boasts an impressive eight-metre ceiling height and plenty of natural lighting from skylights. The spaces have been meticulously designed, with premium materials, contemporary mood lighting, and elegant wood finishes. These elements come together to create a warm and inviting ambience.
The shophouse also features outdoor terraces, providing views of the surrounding neighbourhood. This adds to the charm of the commercial space, distinguishing it from more conventional offices.
The versatile space is suitable for various business uses and offers a practical yet comfortable setting. Currently, the entire shophouse is leased to a finance company, providing attractive rental returns.
Magdalene Lee of Mutual Benefits Realty says, “This commercial unit presents an exceptional opportunity for buyers to acquire a highly sought-after asset in a thriving and vibrant district.” She adds, “It’s an ideal option for owner-occupiers, such as family offices seeking to secure commercial space for their own long-term use, and investors looking for a property that offers a stable and reliable rental income stream.”
Foreign buyers and corporate entities can purchase the property without incurring additional buyer’s stamp duty.
Located in the Telok Ayer district, the shophouse is adjacent to Singapore’s foremost financial and commercial districts, including Raffles Place, Shenton Way, and Marina Bay. The area offers a blend of urban life amidst a heritage backdrop, with conservation shophouses housing design studios or IT firms, artisan eateries, and centuries-old temples.
The location is exceptional, and the shophouse exudes character and prestige. It offers a luxurious commercial setting within the vibrant heritage hub of Singapore’s downtown.
Food enthusiasts will appreciate the many options available in the area, including the iconic Maxwell Food Centre and popular Amoy Street Food Centre, along with highly rated restaurants and bars.
The EOI exercise ends on July 18. For more information, please contact Magdalene Lee | 98766574. She is an Associate Director (R017722B) at MUTUAL BENEFITS REALTY PTE. LTD.
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