Three Kampong Glam shophouses on sale
Three restored adjoining conservation shophouses near the inner city here have gone on the market.
The Freehold properties at 8, 10 and 12 Aliwal Street have been zoned "commercial" and approved for use as a boarding house with a hotel licence. They occupy a prime location in the Kampong Glam precinct and are 350m from the Nicoll Highway MRT station and 700m from Bugis MRT station.
The properties, which have been put on sale by private equity-owned Columbia Real Estate, are currently leased to a boutique inn operator offering tourist accommodation.
Gazetted as a conservation area, Aliwal Street has evolved into a hub for creative ventures over the years. The street is known for its artistic events. A stone's throw away from Arab Street, it sits at the edge of a tourist hot spot and nightspot destination.
The guide price for the properties is $29.5 million and foreigners are eligible to buy, with no additional buyer's stamp duty or seller's stamp duty payable.