Two District 1 properties along Hongkong Street up for sale

The properties are located at 7 and 36 Hongkong Streets.

Two properties along Hongkong Street in Singapore’s District 1 are up for sale, its exclusive marketing agent CBRE said. 

The properties are located at 7 Hongkong Street and 36 Hongkong Street, with a guide price of $27m or $3,780 psf and $22.6m or $3,105 psf, respectively.

The sale will be conducted via an Expression of Interest exercise, which closes on 26 March at 3 p.m.

7 Hongkong Street is a six-storey boutique hotel that has a land area of approximately 1,701 sq. ft. and a total floor area of about 7,142 sq. ft. It is a 99-year leasehold property with a
balance land tenure of around 89 years.

The property is currently operated under the Hotel Clover branding and features a total of 27 rooms.

Meanwhile, 36 Hongkong Street, which sits on a 1,733 sq. ft. 99-year leasehold site with a balance land tenure of around 93 years and a total floor area of about 7,279 sq. ft., is a 5-storey commercial building that is currently fully leased out to a bridal shop on the ground floor and offices on the upper floors.

As these are hotel and commercial properties, foreigners and companies are eligible to purchase both assets, and there will be no Additional Buyer's Stamp Duty or Seller's Stamp Duty applicable to the transactions.