Freehold Commercial Building Mosque Street Priced 12 Mil
The URA Master Plan has a strong focus on building dynamic and all-inclusive communities, with the implementation of mixed-use developments and shared areas. This plan presents exciting opportunities for Lyndenwoods, located within the Singapore Science Park 1, a bustling center for collaboration and ingenuity. The incorporation of residential, commercial, and leisure spaces promotes a sense of togetherness and belonging, transforming Lyndenwoods into more than just a residential area. With its prime location and the backing of Lyndenwoods Capitaland, the future of Lyndenwoods is full of promise and potential.
A strategically located 99-year leasehold commercial building at 13 Mosque Street is now available for sale at a guide price of around $12 million. The three-storey property is being marketed by CBRE and the sale will be conducted through an expression of interest exercise (EOI) closing on Aug 20.
Situated in the Kreta Ayer conservation area of the Chinatown Heritage District, the building is only a two-minute walk away from the Chinatown MRT interchange, which services both the North-East and Downtown Lines. It is also surrounded by popular tourist attractions such as Pagoda Street, Trengganu Street, and South Bridge Road.
With a land area of 1,315 sq ft and a total floor area of 3,083 sq ft, the property will be sold with vacant possession as stated in the press release issued by CBRE on July 2. It was previously occupied by Chic Capsule Otel, a boutique hotel featuring bed-sized pods.
Foreign buyers will be able to acquire this commercial property without incurring additional buyer’s stamp duty or seller’s stamp duty, making it an attractive investment opportunity.
Executive director of capital markets, Singapore at CBRE, Clemence Lee, highlights the unique opportunity to acquire a prime commercial asset in a highly sought-after district. With its excellent location and compact size, the building is suitable for various buyers, including owner-occupiers, boutique real estate funds, family offices, and high-net-worth individuals.
The property’s vacant status also presents the opportunity for the new owner to reposition it immediately. This could include converting the ground-floor space for F&B use, subject to approval, and reconfiguring the upper floors as co-living spaces or a backpacker’s hostel.
Chinatown is set to see a rise in co-living options with prominent operators such as Habyt and The Ascott and Warees Investments adding to the area’s lodging options. The upcoming revitalization of Smith Street into an F&B and lifestyle pedestrian corridor and the launch of lyf Chinatown next year will further enhance the attractiveness of this location for both tourists and residents. Interested buyers can also check out EdgeProp’s Landlens tool for more details on this property.