The commercial building at 13 Mosque Street presents a unique investment opportunity within Singapore’s vibrant Chinatown Heritage District. With a price tag of approximately $10 million, this 99-year leasehold property boasts a total floor area of 3,083 square feet and a lot size of 1,315 square feet. Its strategic location within the Kreta Ayer conservation area positions it as a prime asset for those looking to capitalize on the area’s rich cultural heritage and active tourism.
Previously operated as Chic Capsule Otel, the building is now available with vacant possession, granting potential investors the flexibility to implement immediate repositioning strategies. This aspect significantly enhances the building’s appeal, as it allows for various redevelopment opportunities that align with market demands.
Given its prior use as a hospitality venue, the ground floor could potentially be converted for food and beverage operations, tapping into the vibrant F&B scene that characterizes Chinatown. Such a transformation could attract both locals and tourists, driving foot traffic and increasing revenue potential.
Moreover, the upper floors of the building present an opportunity for innovative residential solutions, such as co-living spaces or backpacker hostels. These concepts are increasingly popular among young professionals and budget-conscious travelers, respectively. With the ongoing rise in demand for unique and affordable accommodations in central locations, this building’s reconfiguration could cater to a diverse range of tenants, further enhancing its investment value.
Accessibility is another crucial factor that adds to the attractiveness of the property. Located just a two-minute walk from the Chinatown MRT Interchange, the building is well connected to public transportation, making it easily reachable for both residents and visitors alike. This feature not only makes the property appealing to potential tenants but also increases its marketability to investors who prioritize accessibility in their investment decisions.
Given its prime location in a prominent tourist hub, interest in the property is expected to come from various segments of the market, including owner-occupiers, boutique real estate funds, family offices, and high-net-worth individuals. These investors are likely to recognize the long-term value that the property holds, considering both current rental yields and the potential for capital appreciation as the area continues to develop.
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News Source: Edgeprop
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