Five adjoining shophouses at Club Street sold for $25.9 mil to ABR Holdings

ABR’s group technique and also procedures director Ang Jun Hung states the purchase shows a myriad of options for ABR to reinforce its F&B portfolio as well as its growing exposure in the property project sector. On The Other Hand, Savills Singapore’s associate supervisor for financial investment sales as well as funding markets Sophia Lim notes that the EOI exercise for the shophouses earned “overwhelming” feedback, adding in that they received enquiries from lots of new-to-market customers from China, Hong Kong and also Indonesia.

Savills Singapore claims the title for 1,3, as well as 5 Club Street is held by Citystate Residence, which belongs to Citystate Group. The title for 7 as well as 9 Club Street is held by Dr Ling Ai Ee, who is also one of the bondholders of Citystate Real estates. The divestment of the shophouses becomes part of Citystate’s convertible property recycling technique, states group chief executive officer Leow Tze Wen.

Sceneca Residences Tanah Merah

The shophouses sit on a standalone island site including two land titles. One title is for 1, 3, and also 5 Club Road, which are three-storey shophouses with an attic. The other title is for 7 as well as 9 Club Street, which are two-storey shophouses. These shophouses remain on a combined land of roughly 3,557 sq ft, with a determined overall built-up area of roughly 7,225 sq ft.

Five adjacent shophouses found at 1,3,5,7 and 9 Club Avenue in the CBD have already been marketed using an expression of interest (EOI) exercise for $25.9 million to Singapore-listed ABR Holdings. The list price turns out to $3,582 psf on the blended flooring location, shares Savills Singapore, which agented the offer.

error: Content is protected !!