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8MRE pays S$26.4m for latest shophouse buys

The group is acquiring 28 Duxton Hill and 53 Craig Road from entities linked to Stanley Quek

Kalpana Rashiwala

Published Tue, Nov 10, 2020 · 09:50 PM

shophouses

Singapore

SINGAPORE-BASED property investment company 8M Real Estate (8MRE) has picked up two conservation shophouse properties in the Duxton Hill/Craig Road area for a total of S$26.4 million.

The District 2 properties on sites with balance leasehold tenures of close to 68 years each are being sold by entities linked to veteran property investor Stanley Quek.

8MRE is paying S$15.75 million for 28 Duxton Hill, a two-storey shophouse on land area of 3,557 square feet (sq ft). The ground floor is leased to Greek restaurant Fotia, while the office tenant that used to occupy the second level recently left when its …