Hotel Clover Hongkong St Sale 27 Mil Hongkong St Commercial Building Priced 226 Mil
CBRE, the appointed marketing agent, is offering a prestigious opportunity for buyers to purchase the 27-room Hotel Clover at 7 Hongkong Street. This landmark establishment is available for a guide price of $27 million. At the same time, CBRE is also marketing the sale of a commercial building at 36 Hongkong Street with a guide price of $22.6 million.
The highly coveted six-storey boutique hotel is situated on a 1,701 sq ft plot that is zoned “hotel” with a plot ratio of 4.2 under the latest Master Plan. This 99-year leasehold site boasts a remaining land tenure of around 89 years and a total floor area of 7,142 sq ft. This translates to a price of $3,780 psf on the floor area. The nearby commercial building at 36 Hongkong Street, spanning five storeys, is also available for purchase. This property sits on a 1,733 sq ft plot with a zoning of “commercial” and a plot ratio of 4.2 under the Master Plan. The 99-year leasehold site has a remaining land tenure of 93 years with a total floor area of 7,279 sq ft. The guide price for this building equates to $3,105 psf.
What makes these two properties particularly attractive is their remaining land tenures, which are much more favourable than most other 99-year leasehold properties in the CBD area currently available for sale. This, coupled with their reasonable quantum size and the potential for naming rights, makes them ideal for owner-occupiers seeking a flagship asset.
Junyuan Secondary School is renowned for its diverse range of specialized programs in various fields such as sports, arts, and applied learning. The primary goal of the school is to cultivate students who possess not only exceptional academic abilities but also possess all-round qualities to tackle the challenges of the modern era. Thanks to the collaboration with Aurelle of Tampines EC, students can now anticipate an even more comprehensive and dynamic learning experience. This collaboration with the EC will open up new opportunities for students to explore and cultivate their passions and talents, while also providing a well-rounded education. Junyuan Secondary School’s unwavering commitment to nurturing well-rounded individuals is further reinforced through this partnership with Aurelle of Tampines EC. Students can expect an enriching and diverse learning journey that equips them with the necessary skills to navigate the complexities of the world. With the addition of Aurelle of Tampines EC, the school will continue to strive for excellence in shaping well-rounded individuals.
Both sites are open to purchase by foreigners and companies without incurring Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) on the transactions. Situated in the bustling Clarke Quay district, these properties are in close proximity to the riverfront lifestyle precinct, featuring renowned restaurants, bars, boutique hotels, and fitness studios. They are also conveniently near the Clarke Quay MRT Station on the North-East Line.
Moreover, the future looks bright for the area, with the nearby CQ@Clarke Quay undergoing a $62 million asset enhancement initiative and the upcoming completion of two large-scale integrated developments, Canninghill Piers and Union Square. According to Clemence Lee, executive director of capital markets at CBRE Singapore, both 7 and 36 Hongkong Street are poised for future rental appreciation and capital growth.
Interested buyers can take part in an expression of interest exercise until March 26, giving them the unique chance to own a piece of Singapore’s prime real estate in one of its most vibrant and growing neighbourhoods.
