- News
- Shophouse at 28 Ann Siang Road sold for S$52 million
Shophouse at 28 Ann Siang Road sold for S$52 million
By Wong Siew Ying, The Straits Ti / 08-Jun-2017
Property investment firm 8M Real Estate is acquiring a shophouse at 28, Ann Siang Road for $52 million.
The sale price works out to about $2166.7 per sq ft based on a total gross floor area of 24,000 sq ft, the firm told The Straits Times on Wednesday (June 7).
Spanning over 7,000 sq ft, the 999-year leasehold site is occupied by 20-room The Club Hotel, which will continue to operate on the premises.
The deal, which is expected to be completed in July, was broked by Isabel Redrup Agency.
Responding to a Straits Times query, 8M Real Estate said the property has a permanent hotel licence and is a "great piece of real estate" given its prime location in the Tanjong Pagar area.
8M Real Estate owns and manages a portfolio of commercial properties within the conservation shophouse sector in Singapore.
The properties include 112-116, Amoy Street; 21, Tanjong Pagar Road; 18 and 22, Gemmill Lane; 31, Hong Kong Street; 37, Craig Road; and 71, Neil Road.
More News
Shopee’s parent Sea seen consolidating Singapore footprint in one-north, Science Park
By Kalpana Rashiwala, Business Times / 23-Feb-2024
The NYSE-listed group is no longer looking for a replacement tenant for 200,000 sq ft of office space it leased in Rochester Commons
Read More
Shopee’s parent Sea seen consolidating Singapore footprint in one-north, Science Park
By Kalpana Rashiwala, Business Times / 23-Feb-2024
The NYSE-listed group is no longer looking for a replacement tenant for 200,000 sq ft of office space it leased in Rochester Commons
Read More
Jack Ma’s wife said to have bought three adjoining shophouses on Duxton Road
By Kalpana Rashiwala, Business Times / 21-Feb-2024
Zhang Ying, a Singapore citizen, paid about S$45 million to S$50 million for 70, 71 and 72 Duxton Road
Read More
Meta giving up 7 office floors totalling 115,000 sq ft at South Beach Tower
By Kalpana Rashiwala, Business Times / 08-Feb-2024
Landlord South Beach Consortium was informed in June 2023 and is in advanced negotiation with a replacement tenant for two whole floors
Read More
Strata office deals inch up 1.8% to S$1.2 billion, average price climbs 15% in 2023: Knight Frank
By Samuel Oh, Business Times / 05-Feb-2024
Knight Frank expects the strata office market to run up a total transaction value of S$1 billion in 2024
Read More