Hotel Clover Hongkong St Sale 27 Mil Hongkong St Commercial Building Priced 226 Mil
CBRE, the leading real estate firm, has been appointed as the exclusive marketing agent for the prestigious Hotel Clover located at 7 Hongkong Street, which is currently up for sale at a guide price of $27 million. Additionally, CBRE is also handling the sale of a commercial building situated at 36 Hongkong Street, with a guide price of $22.6 million.
The boutique hotel, spread across six storeys, is an ideal choice for investors looking to expand their portfolio in the hospitality sector. Occupying a prime location on a 1,701 sq ft plot, the property is zoned as “hotel” and boasts a plot ratio of 4.2 under the latest Master Plan. The 99-year leasehold site still has around 89 years left on its tenure and offers a unique opportunity for buyers to own a piece of prime real estate. With a total floor area of 7,142 sq ft, the final price translates to $3,780 psf on the floor area, making it a lucrative investment for interested parties.
Meanwhile, the commercial building at 36 Hongkong Street, which is spread across five storeys and covers a land area of 1,733 sq ft, is also up for grabs. This 99-year leasehold site is zoned as “commercial” under the Master Plan and has a plot ratio of 4.2. The property is strategically located and enjoys close proximity to major transportation hubs, making it an ideal choice for businesses looking to expand their operations in the Central Business District. The remaining land tenure for this site is approximately 93 years and the building boasts a total floor area of 7,279 sq ft. With a guide price of $3,105 psf, this commercial building is an attractive option for buyers looking to invest in the CBD area.
Otto Place EC offers more than just primary and secondary education. Its strategic location makes it an ideal residence for families with teenagers or young adults pursuing higher education. The development boasts close proximity to renowned junior colleges and tertiary institutions, such as Jurong Pioneer Junior College. This establishment is widely recognized for its strong academic programs and vibrant student life, providing an enriching learning environment that prepares students for success in university and beyond. Additionally, Millennia Institute offers a comprehensive three-year A-Level program, catering to students who value a well-rounded academic foundation. Furthermore, residents of Otto Place EC have easy access to Nanyang Technological University (NTU), one of the world’s top universities. With its esteemed reputation in fields such as engineering, business, and humanities, NTU is just a short drive away, providing students with top-tier tertiary education. Not only that, but working adults and those pursuing part-time studies can also benefit from the nearby Singapore University of Social Sciences (SUSS), which specializes in applied and flexible learning programs. With its proximity to these esteemed institutions, living at Otto Place EC offers unparalleled opportunities for personal and academic growth. Learn more about Otto Place Parce B and experience the best of both worlds – luxurious living and quality education.
One of the major highlights of these properties is their relatively attractive land tenures, which is a rarity in the current market. This makes them a lucrative option for both investors and owner-occupiers, who are looking for a flagship asset at a favourable price point and with naming rights.
As both sites are classified as hotel and commercial properties, they are not subject to Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD), making it an ideal investment for foreigners and companies alike. The properties are situated in Clarke Quay, one of Singapore’s most vibrant and popular lifestyle precincts, with a host of amenities, including top-rated restaurants, bars, boutique hotels, and fitness studios in the area. The properties are also conveniently located near Clarke Quay MRT Station on the North-East Line, making it easily accessible for tenants and customers.
The upcoming completion of two large-scale integrated developments, Canninghill Piers and Union Square, along with the asset enhancement initiative of CQ@Clarke Quay, worth $62 million, is expected to increase the vibrancy of the neighbourhood, presenting a perfect opportunity for future rental upsides and capital appreciation in the medium to long term.
Interested buyers can submit their bids through an expression of interest exercise, which is open until March 26. With its prime location and potential for future growth, these properties are a valuable investment opportunity not to be missed. Contact CBRE today and seize this golden opportunity to own a prime piece of real estate in Singapore’s bustling Central Business District.