Newly Rebuilt Conservation Shophouse Prime Telok Ayer Sale 228 Mil
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The three-storey commercial conservation shophouse at 151 Telok Ayer Street is currently available for purchase through an expression of interest (EOI) conducted by Mutual Benefits Realty. The asking price for this freehold property is $22.8 million, and it is exclusively marketed by Magdalene Lee.According to the marketing agent, the shophouse spans 1,574 sq ft of land and has a built-up area of approximately 3,600 sq ft. Based on the floor area, the price equates to $6,333 per sq ft.The property is located just a short two-minute walk from Telok Ayer MRT Station, making it easily accessible. It has undergone extensive multimillion-dollar Additional and Alteration (A&A) works over a span of three years, under the supervision of renowned architect Ernesto Bedmar. As a result, the shophouse is in pristine condition and has obtained its Certificate of Statutory Completion (CSC) in February 2024.The modern facade of the commercial property is complemented by an impressive eight-metre ceiling height and ample natural lighting filtering in through skylights. The interior boasts meticulously designed spaces, incorporating premium materials, contemporary mood lighting, and refined wood finishes to create a warm and inviting atmosphere. Additional outdoor terraces offer an opportunity to appreciate the surrounding neighborhood, adding to the uniqueness of the commercial space.The property is versatile and suitable for various business uses, providing a practical and comfortable setting for its occupants. The entire shophouse is currently leased by a finance company, ensuring attractive rental returns for potential buyers.Lee 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.”Both foreign buyers and corporate entities can purchase the property without incurring additional buyer’s stamp duty.Being in close proximity to Singapore’s leading financial and commercial hubs, such as Raffles Place, Shenton Way, and Marina Bay, the Telok Ayer district offers a unique blend of urban living amidst a heritage backdrop characterized by conservation shophouses housing design studios, IT companies, artisan eateries, and centuries-old temples. This prime location exudes both character and prestige, providing a luxurious commercial setting in the lively heritage hub of Singapore’s bustling downtown. For food enthusiasts, the area is also a haven, with well-known culinary hotspots like the iconic Maxwell Food Centre, the famous Amoy Street Food Centre, and an array of highly rated restaurants and bars.The EOI process for this commercial property will close on July 18. For more information, interested buyers can get in touch with Magdalene Lee at 98766574, Associate Director (R017722B), at MUTUAL BENEFITS REALTY PTE. LTD.