An intermediate three-storey commercial conservation shophouse at 151 Telok Ayer Street is up for sale through an expression of interest (EOI) by Mutual Benefits Realty, priced at $22.8 million, according to its exclusive marketing agent, Magdalene Lee.
The freehold commercial property occupies a land plot spanning 1,574 sq ft with approximately 3,600 sq ft of built-up area. Based on floor area, its price tag translates to $6,333 psf.
Just a two-minute walk from Telok Ayer MRT Station on the Downtown Line, the conservation shophouse has been rebuilt over three years with extensive multimillion-dollar Additional and Alteration (A&A) works spearheaded by renowned architect Ernesto Bedmar.
Sparring the buyer the hassle of undertaking renovation works, the shophouse is in a brand new condition, having obtained its Certificate of Statutory Completion (CSC) in February 2024.
Rebuilt over three years with A&A works by architect Ernesto Bedmar. (Picture: Samuel Isaac Chua/The Edge Singapore)
With a sleek façade, its modern interior comprises an impressive eight-metre ceiling height and natural lighting streaming in from skylights.
Featuring meticulously designed spaces, the tasteful décor boasts a well-curated selection of premium materials, contemporary mood lighting and elegant wood finishes, creating a warm and inviting ambience.
There are also outdoor terraces to observe the neighbouring surroundings, which, unlike the more conventional setting of a typical office, further add to the charm of the commercial space.
Suitable for owner-occupiers including family offices or boutique firms. (Picture: Magdalene Lee)
The property offers a versatile space that is practical yet comfortable and well-suited for various business uses.
The entire shophouse is currently leased to a finance company, providing attractive rental returns.
“This commercial unit presents an exceptional opportunity for buyers to acquire a highly sought-after asset in a thriving and vibrant district,” says Lee.
She adds, “It’s an ideal option for owner-occupiers, such as family offices seeking to secure commercial space for their own long-term use, and investors looking for a property that offers a stable and reliable rental income stream.”
Interiors feature premium materials, mood lighting and elegant wood finishes. (Picture: Samuel Isaac Chua/The Edge Singapore)
Foreign buyers and corporate entities can buy the property without incurring additional buyer’s stamp duty.
Adjacent to Singapore’s foremost financial and commercial districts, including Raffles Place, Shenton Way, and Marina Bay, the Telok Ayer district offers an interesting blend of urban life amidst a heritage backdrop characterised by conservation shophouses occupied by design studios or IT firms, artisan eateries and centuries-old temples.
It combines an exceptional location with character and prestige, offering a luxurious commercial setting within a buzzing heritage hub of Singapore’s downtown.
For food enthusiasts, the area is also home to culinary landmarks such as the iconic Maxwell Food Centre and popular Amoy Street Food Centre, along with a gamut of highly rated restaurants and bars.
The EOI exercise ends on July 18.
For more information,
Contact Magdalene Lee | 98766574
Associate Director (R017722B)
MUTUAL BENEFITS REALTY PTE. LTD.
