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SG Historic building up for sale by tender

Property Here - Tuesday, May 28, 2013

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By Shabnam Muzammil:

The House of Tan Yeok Nee (pictured), a freehold commercial property listed as a National Monument by Singapore’s Preservations of Monument Board, has been put up for sale by tender, according to marketing agent Jones Lang LaSalle.

Located at the corner of Penang Road and Clemenceau Avenue, the building previously housed the University of Chicago Booth School of Business.

It also won a special commendation from Paris-based international real estate federation, FIABCI in 2002.

“This is a rare opportunity to acquire an asset for commercial use in a prime location in the Orchard Road precinct. House of Tan Yeok Nee is a unique asset that offers owner occupiers or investors the ability to leverage off the building’s prominence and historical significance. Potential to increase existing usable space through the reconfiguration of void areas and use of courtyard space could provide further amenity to owners of the building,” said Anthony Barr, National Director for Investments at Jones Lang LaSalle.

The tender for the property closes on July 5.



Shabnam Muzammil, Senior Journalist at PropertyGuru, wrote this story. To contact her about this or other stories email shabnam@allproperty.com.sg