7 adjoining conservation shophouses in Chinatown on the market for $110m

The property will be sold via Expression of Interest.

A standalone block of seven adjoining conservation shophouses at 20 Trengganu Street was put on sale for an indicative price of $110m.

The sale for the property will be conducted through an expression of interest exercise which will close on 1 June at 3:00 p.m.

Foreigners are eligible to purchase the block of shophouses with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the transaction, the property's marketing agent, CBRE said.

The block sits on an island plot that occupies a total land area of 10,444 sq ft and has a total floor area of approximately 31,364 sq ft.

According to CBRE, The ground floor of the property is tenanted to multiple retail outlets such as a supermarket, antique shop, and cosmetics shop, a restaurant on the second floor, and a boutique hotel operator on the third floor.

There are also seven shopfront units with a total floor area of approximately 1,300 sq ft located in front of the property, that can be leased from the Chinatown Business Association (CBA).

If sold at S$110 million, the property will break the record for the largest shophouse transaction in Singapore, which is currently held by Porcelain Hotel at S$90 million transacted early this year.

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