Two adjoining conservation shophouses on Telok Ayer Street up for sale through EOI
The opportunity to own two conservation shophouses on Telok Ayer Street has presented itself through an expression of interest (EOI) exercise, with an indicative price of $42 million. These shophouses, located at 132 and 134 Telok Ayer Street, boast a 999-year leasehold tenure and occupy a land area of approximately 2,841 sq ft. Zoned for commercial use, these shophouses have a total floor space of 8,000 sq ft, which translates to an indicative price of $5,250 psf on the floor area.
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Conveniently situated near the intersection of Telok Ayer Street and Boon Tat Road, these shophouses are only a two-minute walk from the Telok Ayer MRT Station on the Downtown Line. They are also part of the Telok Ayer Conservation Area, which includes other shophouses along Amoy Street, Ann Siang Road, Boon Tan Street and Club Street.
According to Steve Tan, managing director of capital markets and investment sales at ERA Realty Network, these shophouses are expected to set a new record price due to their prime location and the popularity of shophouses in the Chinatown-Telok Ayer area among investors. ERA is the exclusive marketing agent for the shophouses.
Recent transactions in the Telok Ayer Conservation Area have shown a surge in investor activity since the US Federal Reserve announced its intention to lower interest rates. Tan predicts that there will be more record-breaking deals in the near future.
Interested parties can submit their EOI by October 17 at 3pm. For more information, you can check out the latest listings for Telok Ayer Conservation Area and commercial real estate properties on EdgeProp Buddy.