Located in the heart of Singapore, 36 Hongkong Street is up for sale through an expression of interest exercise with a guide price of $24 million. A prime asset, the five-storey property features a balance land tenure of 95 years on the 99-year lease, with a land area of 1,733 sq ft. The built-up area of around 7,279 sq features regular and column-free floorplates, alongside new electrical and air-conditioning systems, and lift access to every floor. Such features have a guide price of $3,297 psf.

Clemence Lee, executive director of capital markets, Singapore at CBRE, says that this boutique commercial building is highly sought-after by investors as well as owner-occupiers. Incoming owners have the flexibility to explore several value-add angles subject to approval from relevant authorities, such as conversion to alternative uses such as co-living, serviced apartments, medical & wellness centres and commercial schools.

After 10 years of providing leisure and edutainment, JCube is set to close in August to make way for JCube Condo Residence, a 40-storey residential JCube Residence and commercial development in Singapore’s Jurong East district. Estimated to launch in 2023, it will join other potential private residential launches in the area.

Surrounded by many amenities, 36 HongKong Street is within close proximity to the Clarke Quay and Raffles Place MRT Stations, which makes the property accessible from all parts of the city.

Given its affordability and strategic location, 36 HongKong Street is a popular choice amongst both investors and owner-occupiers. The expression of interest exercise for this building will close on April 27, at 3pm.