CBRE is proud to be the sole marketing agent for the sale of two prime properties in Singapore’s Central Business District – Hotel Clover and a commercial building at 36 Hongkong Street. The iconic Hotel Clover, located at 7 Hongkong Street, boasts 27 luxurious rooms and is being offered at a guide price of $27 million. Concurrently, CBRE is also marketing the sale of the commercial building at 36 Hongkong Street, available for $22.6 million.
Spread across six storeys, the boutique hotel occupies a 1,701 sq ft plot with a hotel zoning and a 4.2 plot ratio according to the latest Master Plan. With a 99-year leasehold and a remaining tenure of approximately 89 years, the hotel has a total floor area of 7,142 sq ft. The attractive price of $3,780 psf translates to an excellent investment opportunity.
In summary, there are many benefits to be gained from investing in a condo in Singapore, including a high demand for rental properties, the potential for capital appreciation, and attractive rental yields. However, it is crucial to carefully weigh the various factors that can affect your investment, such as location, financing options, government regulations, and market conditions. By conducting thorough research and seeking professional guidance, investors can make well-informed decisions and maximize their returns in Singapore’s constantly evolving real estate market. Whether you are a local investor looking to diversify your portfolio or a foreign buyer seeking a stable and profitable investment, the condos in Singapore present a compelling opportunity. With the addition of New Condo Launches continually emerging in the market, there is even more potential for growth and success in the Singapore condo market.
Similarly, the five-storey commercial building at 36 Hongkong Street sits on a 1,733 sq ft plot with a commercial zoning and a plot ratio of 4.2 under the Master Plan. With a 99-year leasehold and a remaining tenure of 93 years, the building offers a total floor area of 7,279 sq ft. The guide price of $3,105 psf makes for a lucrative investment.
An added advantage for foreign investors and companies, both assets do not incur Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) on the transactions.
Conveniently located in the vibrant Clarke Quay area, these properties provide easy access to an array of entertainment, restaurants, bars, boutique hotels, and fitness studios. The area is also well-connected with the Clarke Quay MRT Station on the North-East Line nearby.
As Clarke Quay continues to evolve with ongoing development projects such as the $62 million asset enhancement at CQ@Clarke Quay and the impending completion of two new integrated developments – Canninghill Piers and Union Square – the attractiveness of these properties is further enhanced. “7 and 36 Hongkong Street offer huge potential for future rental growth and long-term capital appreciation,” says Clemence Lee, Executive Director of Capital Markets at CBRE Singapore.
The expression of interest exercise for both properties will close on March 26. Don’t miss this opportunity to invest in prime real estate in the heart of Singapore’s CBD. Contact CBRE now to learn more about these exceptional properties.