Singapore
DUCK & Hippo group founder James Heng continues to pile up on conservation shophouses.
He is paying S$14 million for 31 Keong Saik Road. This works out to about S$4,300 per square feet based on estimated built-up area for the three-storey freehold property - surpassing the S$4,259 psf he paid for 21 Boon Tat Street in September this year. That price was already a new high for conservation shophouses in Districts 1 and 2, said property agents.
Market watchers noted that whereas both levels of the Boon Tat Street property are approved for food and beverage use, only the ground level of the three-storey 31 Keong Saik Road is approved for F&B use. Moreover as a street address, Boon Tat Street...