The block of seven conservation shophouses at 20 Trengganu Street is on the market for $85 million (Photo: Samuel Isaac Chua/EdgeProp Singapore)SINGAPORE (EDGEPROP) - Tourists have returned to Singapore’s Chinatown, with people milling around the shops of Trengganu Street, Temple Street, Pagoda Street, Smith Street and Sago Street. All the streets are interconnected via Trengganu Street, which, together with the adjacent Pagoda Street, was converted into a pedestrian mall by URA in 1997.Once upo
The block of seven conservation shophouses at 20 Trengganu Street is on the market for $85 million
Most street vendors in Chinatown today are peddling souvenir trinkets, clothing, art and antiquities. These are not the only things for sale, however. On the third floor is the 40-room, three-star Hotel 1888 Collection, which has been operating since January 2019. Room rates start from $185 a night for a standard double room. The boutique hotel is paying a monthly rental rate of $50,000, estimates Yap.
The block of seven conservation shophouses at the corner of Trengganu Street and Temple Street is just 150m from the Chinatown MRT station “We are looking at investors who want to operate hotels or ride the co-living wave, which is seeing robust demand,” she says. “A lot of the private wealth — ultra-high-net-worth individuals and family offices — are looking to buy commercial shophouses with the potential change of use into accommodation.”
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