The Business Times
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A string of shophouse deals in Stanley, Telok Ayer and Amoy streets

8M Real Estate pays S$29 million for 28 Stanley Street; SilkRoad Property Partners said to have sold 78 and 80 Amoy Street

Kalpana Rashiwala

Kalpana Rashiwala

Published Thu, Apr 27, 2023 · 05:50 AM
    • 28 Stanley Street (white building) is being sold with vacant possession.
    • At Solitaire on Cecil, diagonally opposite 28 Stanley Street, both restaurant units on street level have been sold, at slightly over S$5,400 psf and nearly S$6,000 psf.
    • 28 Stanley Street (white building) is being sold with vacant possession. PHOTO: JLL
    • At Solitaire on Cecil, diagonally opposite 28 Stanley Street, both restaurant units on street level have been sold, at slightly over S$5,400 psf and nearly S$6,000 psf. PHOTO: SOLITAIRE CECIL PTE LTD

    SINGAPORE-BASED real estate investment company 8M Real Estate is boosting its shophouse portfolio in the central business district (CBD) with a S$29 million purchase of 28 Stanley Street.

    The option on the purchase was exercised this month. The freehold property is in the Telok Ayer Conservation Area of the Chinatown Historic District. 8M is buying the shophouse with vacant possession.

    “The first and second floors are approved for restaurant use and the third and fourth floors, for office use,” said Terry Wong, senior director of capital markets at JLL, who brokered the sale via an expression of interest exercise.

    Commercial & IndustrialshophousesSingapore property

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