Standalone island of shophouses at Club Street sells for $25.9m

It was sold as a portfolio to ABR Holdings Limited.

A row of five shophouses at Club street was sold for $$25,877,000 via expression of interest exercise. The total sale price translates to $3,582 psf on the blended floor area.
 
Savills Singapore, the property’s marketing agent, said the shophouses were sold as a portfolio to ABR Holdings Limited, a Singapore-listed company primarily involved in food services and property development.
 
The five shophouses – 1,3,5, and 7 & 9 Club street – sit on a standalone island site with a combined land of approximately 3,557 sq ft, and an estimated total built-up area of 7,225 sq ft.
 
1,3,5 Club Street are owned by Citystate Properties, whilst 7,9 Club Street are owned by Dr. Ling Ai Ee, a shareholder of Citystate Properties.
 
“ABR is excited to join the vibrant community at Club Street with the acquisitions of 1,3,5,7,9 Club Street. This standalone island of shophouses, which boasts a rich heritage, presents a myriad of opportunities for ABR to strengthen our F&B portfolio, alongside our growing presence in the property development space. We look forward to contributing to the area,” Ang Jun Hung, Group Strategy & Operations Director of ABR Holdings Limited, said.