A prime investment opportunity awaits with the 99-year leasehold commercial building located at 13 Mosque Street. This property encompasses a total floor area of 3,083 square feet and is situated on a lot measuring 1,315 square feet. Priced at approximately $10 million, the building offers a compelling prospect for savvy investors looking to capitalize on a strategic location within Singapore’s vibrant Chinatown district.
Previously operating as Chic Capsule Otel, a boutique hotel, the property is now available for sale through an expression of interest (EOI) exercise managed by CBRE, with the submission deadline set for August 20. The timing of this sale presents a unique chance for potential buyers to acquire a commercial space that can be immediately repositioned to meet current market demands. The sale will be conducted with vacant possession, enabling the new owner to implement changes without delay.
The flexibility of the building’s layout allows for various potential uses. Investors may consider converting the ground floor for food and beverage (F&B) operations, tapping into the gastronomic culture that thrives in the area. Additionally, the upper floors can be reconfigured to accommodate co-living spaces, which have gained popularity among urban dwellers seeking affordable housing solutions. This adaptability enhances the property’s attractiveness, providing multiple avenues for income generation.
Located in the Kreta Ayer conservation area, the building benefits from its status within the Chinatown Heritage District. This locale is not only rich in cultural history but also serves as a prominent tourist hub, drawing visitors from around the globe. The proximity to the Chinatown MRT Interchange significantly enhances accessibility, making the property an ideal choice for businesses that rely on foot traffic and public transportation.
The surrounding environment further complements the investment’s potential. The vibrant atmosphere of Chinatown, characterized by traditional shophouses, bustling markets, and an array of dining options, attracts both locals and tourists alike. This lively setting fosters a community spirit, ensuring that businesses thrive in such a dynamic marketplace.
Investors looking to enter the commercial real estate sector will find this property particularly appealing due to its strategic positioning and the myriad of possibilities it presents. The ability to adapt the building to current trends, such as F&B ventures or co-living spaces, aligns well with modern consumer preferences. Moreover, the historical significance of the Chinatown district and its ongoing appeal as a tourist destination add layers of value to the investment.
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News Source: Edgeprop
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