Two CBD conservation shophouses on Hongkong Street offered for $42m

The two properties have a combined site area of about 3,676 sq ft.

Two adjoining commercial conservation shophouses along Hongkong Street in Singapore’s Central Business District have been put up for sale with a combined guide price of $42m.

The properties at 18 and 19 Hongkong Street are being offered through an Expression of Interest (EOI) exercise, either individually or as a pair, by Knight Frank Singapore.

The 18 Hongkong Street is a four-storey shophouse that sits on a site area of about 1,884 sq ft and has an existing gross floor area of approximately 5,074 sq ft.

It is priced at $14.5m, or about $2,858 psf based on its existing floor area, and currently has approval for backpackers’ hostel use.

Meanwhile, the 19 Hongkong Street comprises a four-storey shophouse with a six-storey rear extension.

The property occupies about 1,792 sq ft of land and has an existing floor area of approximately 8,842 sq ft. Its guide price is $27.5m, or about $3,111 psf.

19 Hongkong Street underwent an asset enhancement programme completed in 2015 at a cost of about $7m.

The works included extending the lease to a fresh 99-year tenure, installing a passenger lift, adding a private car park lot, and upgrading building specifications.

The two properties have a combined site area of about 3,676 sq ft.

Under the Master Plan 2025, both are zoned “Commercial” with a maximum permissible plot ratio of 4.2, which allows for a potential gross floor area of about 15,703 sq ft.

The combined guide price works out to about $2,675 psf based on the potential gross floor area.

The sale follows recent planning revisions by the Urban Redevelopment Authority (URA) for selected sites in the Upper Circular Road precinct, which could allow accommodation-related uses on commercial properties, subject to approvals.

The properties are also open to foreign purchasers. As commercial conservation assets, they are not subject to Additional Buyer's Stamp Duty (ABSD) or Seller's Stamp Duty (SSD).

The EOI exercise closes on 25 August 2026, at 3 pm.

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