Newly Rebuilt Conservation Shophouse Prime Telok Ayer Sale 228 Mil
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A fully refurbished intermediate three-storey commercial conservation shophouse located at 151 Telok Ayer Street is now available for purchase through an expression of interest (EOI) by Mutual Benefits Realty. The exclusive marketing agent, Magdalene Lee, has listed the property for $22.8 million.
The freehold commercial property is situated on a land plot spanning 1,574 sq ft with a built-up area of approximately 3,600 sq ft. Based on floor area, the price of the shophouse translates to $6,333 psf.
With its strategic location just a two-minute walk away from Telok Ayer MRT Station on the Downtown Line, this conservation shophouse has undergone extensive multimillion-dollar Additional and Alteration (A&A) works over a period of three years, led by renowned architect Ernesto Bedmar.
The shophouse has been completely rebuilt to a brand new condition, eliminating the need for the buyer to undertake any renovation works. It has been granted its Certificate of Statutory Completion (CSC) in February 2024.
The modern façade boasts a sleek design and the interior is filled with natural light streaming in from skylights, thanks to its impressive eight-metre ceiling height. The tasteful décor features a well-curated selection of premium materials and elegant wood finishes, along with contemporary mood lighting, creating a warm and inviting atmosphere.
The shophouse also includes outdoor terraces where one can take in the surroundings. This unconventional feature adds to the charm of the commercial space, making it suitable for various business uses.
Currently under lease to a finance company, this property presents an attractive opportunity for buyers looking to secure a highly sought-after asset in a bustling and vibrant district, says Lee.
She adds that it is an ideal option for owner-occupiers, such as family offices seeking long-term commercial space for their own use, and investors looking for a stable and reliable rental income stream.
Foreign buyers and corporate entities can purchase the property without incurring additional buyer’s stamp duty.
Located next to Singapore’s major financial and commercial hubs, including Raffles Place, Shenton Way, and Marina Bay, the Telok Ayer district features a mix of urban life with a heritage backdrop. The area has a charm of its own, with conservation shophouses occupied by design studios, IT companies, artisan eateries, and centuries-old temples.
Apart from its exceptional location and prestige, the district offers a luxurious commercial setting within a busy heritage hub in Singapore’s downtown area. For those who love food, the district is home to famous culinary landmarks such as the Maxwell Food Centre and the Amoy Street Food Centre. It also has a variety of well-known restaurants and bars.
The EOI exercise will end on July 18.
For further details, please contact Magdalene Lee | 98766574 Associate Director (R017722B) of MUTUAL BENEFITS REALTY PTE. LTD.
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