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Shophouse at 21 Boon Tat Street fetches record price in District 1

Duck & Hippo group founder James Heng is paying S$4,259 per square foot for the property

Kalpana Rashiwala
Published Wed, Oct 3, 2018 · 09:50 PM

Singapore

A 999-year leasehold shophouse at 21 Boon Tat Street in the Telok Ayer Conservation Area is being sold for S$16.5 million, which works out to S$4,259 per square foot on the estimated built-up area of 3,874 sq ft.

According to property agents, the psf price is a new high for a conservation shophouse in District 1.

In the past 12 months, the prices in the area have not crossed the S$4,000 psf mark.

In August, a corner shophouse at 64 Club Street, also with 999-year leasehold tenure, fetched S$3,880 psf on the estimated built-up area of 5,618 sq ft.

BT understands that 21 Boon Tat Street is being bought by an entity controlled by Duck & Hippo group founder James Heng…

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