A row of 17 adjoining Peranakan conservation shophouses, the Cuppage Terrace, is up for sale. According to marketing agent CBRE, this “one-of-a-kind trophy asset” was valued at $250 million last year.
The property, in the heart of Orchard Road, spans a land area of 28,986 sq ft and offers approximately 50,891 sq ft of total floor area including the outdoor refreshment areas, and is now fully leased to various F&B operators.
“For the first time in over 20 years, Cuppage Terrace — Orchard Road's beloved and iconic F&B and lifestyle enclave — is finally on the market," says Clemence Lee, CBRE’s executive director, capital markets, Singapore.
“This is a truly generational asset, rarely brought to market, representing an unparalleled opportunity for investors to acquire a unique asset with a palatable investment quantum of $250 million in the heart of the internationally-recognised Orchard Road,” adds Lee in a Jan 19 announcement.
The property features an expansive 85m prominent road frontage along Cuppage Road. Its prime location places it directly adjacent to The Centrepoint, an iconic mixed-use development comprising a retail mall and residential component, with direct connectivity to Somerset MRT Station.
Just on Jan 6, the leasehold portion of The Centrepoint was put up for collective sale, with a guide price of $418 million.
