The portfolio of shophouses on offer is located in Boat Quay, Circular Road, Upper Circular Road, New Bridge Road, Serangoon Road and Tanjong Pagar. They will be released for sale in stages. On 5 December 2017, phase one, which consists of two clusters of shophouses, The Boat Quay cluster and The New Bridge Road cluster, was released for sale through JLL.

The Boat Quay Cluster is one of Singapore’s oldest precincts. The area has flourished into a bustling F&B, lifestyle and entertainment destination, offering unique waterfront dining experiences set amongst conservation shophouses. The area is frequented by tourists and is a gathering place for working professionals. It is highly accessible, with Raffles Place and Clarke Quay MRT stations within a short walking distance.

Boat Quay has recently undergone a S$5 million facelift project to revitalize its outdoor dining area, with an outdoor veranda being built along the river promenade to enhance its visitor experience and alfresco dining atmosphere.

Mr. Clemence Lee, Associate Director, Capital Markets, JLL, said: “With less than 7,000 shophouses in Singapore, pre-war shophouses are prized real estate given their conservation status, unique architecture and rich heritage charm. With these inherent attributes, the value of shophouses has been rising over the years underpinned by strong buying demand and limited supply.”

“Given their excellent District 1 location, vibrant F&B lifestyle scene and coveted 999-year tenure, shophouses on Boat Quay and Circular Road represent the “crème de la crème” of all shophouse assets. The 59 shophouses located along Boat Quay are the only private waterfront shophouses in Singapore, with each commanding an excellent unobstructed view of the Singapore River. With the current limited supply of quality freehold shophouses available for sale in District 1, this cluster of shophouses provides astute investors with an unparalleled opportunity to acquire a series of premium shophouse assets so as to grow their existing shophouse holdings in the CBD or to gain an immediate foothold into this sector where assets are tightly-held. Opportunities of such profile and scale are extremely rare.”

The New Bridge Road Cluster is located in-between Clarke Quay and Boat Quay. The New Bridge Road cluster is a contiguous row of four 4-storey corner block shophouses at 27 to 33 New Bridge Road, and 23 New Bridge Road, a 5-storey commercial building. The Upper Circular Road / New Bridge Road area is a rising F&B lifestyle destination that is popular amongst locals, expats and tourists. Various F&B establishments have sprouted in the area, including highly acclaimed restaurants, such as The Kitchen at Bacchanalia (awarded one Michelin Star), FOC (run by Michelin-starred chef Nandu Jubany), Amo, Vasco and exquisite cocktail bars such as 28 Hong Kong Street (named “Best bar in Asia”). The area also houses a co-working space, The Hive.

The properties are being offered for sale through a Tender process run by JLL.

If you wish to receive further information and Tender specifics, and deadlines please phone or email Mr. Clemence Lee from JLL via the contact details below.

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