{"id":89686,"date":"2018-05-28T10:46:35","date_gmt":"2018-05-28T03:46:35","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/historic-mansion-up-for-sale-at-indicative-price-of-93m\/"},"modified":"2018-05-28T11:03:37","modified_gmt":"2018-05-28T04:03:37","slug":"historic-mansion-up-for-sale-at-indicative-price-of-93m","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/historic-mansion-up-for-sale-at-indicative-price-of-93m\/","title":{"rendered":"Historic mansion up for sale at indicative price of $93m"},"content":{"rendered":"


\nThe House of Tan Yeok Nee in District 9 is located close to the Dhoby Ghaut MRT interchange. (Photo: Cushman & Wakefield)
\nThe House of Tan Yeok Nee, a gazetted national monument at 101 Penang Road, has been put up for sale via an expression of interest (EOI) exercise with an indicative minimum price of $93 million, revealed joint marketing agents Cushman & Wakefield and PropNex Realty.
\nThis works out to about $1,590 psf on the strata area and $3,109 psf on the current lettable area.
\nMore: Designer Calls For National Referendum On Fate Of Iconic Buildings
\nAs part of the freehold Visioncrest mixed-use development in prime District 9, the property sits on a 26,321 sq ft site zoned commercial under the 214 Master Plan with a strata area of about 58,480 sq ft.
\nThe property was built by Tan Yeok Nee, a wealthy Teochew businessman in Singapore and Johor during the 19th century, and was gazetted a national monument in 1974. It was the last of four mansions built by Teochew tycoons in the late 19th century.
\nIn 2000, the Teochew courtyard house underwent restoration works, which saw 100 skilled Chinese craftsmen reconstruct the house at a cost of $12 million. With the restoration resulting in a masterpiece of traditional Chinese architecture retrofitted with modern facilities, the House of Tan Yeok Nee won special commendation from the Paris-based FIABCI at the Prix d\u2019Excellence in 2002.
\nCurrently, the House of Tan Yeok Nee is tenanted by an upmarket Traditional Chinese Medicine centre.
\n\u201cWith unprecedented popularity of business or corporate colleges in demanding more spaces and the rising trend for private members\u2019 clubs like Straits Clan, this recently rejuvenated rich heritage gem with ample adjacent carpark lots and just a short walk to Dhoby Ghaut MRT triple-line interchange could be the solution,\u201d said Loyalle Chin of PropNex Realty, who specialises in conservation shophouses and heritage assets in the central business district.
\n\u201cMoreover, there has been increasing shortage and pent-up demand for freehold conservation assets by family funds and ultra-high net worth individuals,\u201d said Chin, adding that no Additional Buyer\u2019s Stamp Duty is payable for the property which is open to foreign investment.
\nThe EOI exercise for the property closes on 12 July.
\nLearn more about the Orchard\/River Valley area and\u00a0search for properties to buy or rent.\u00a0
\n\u00a0
\nRomesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0romesh@propertyguru.com.sg
\n
\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Historic mansion up for sale at indicative price of m<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The House of Tan Yeok Nee in District 9 is located close to the Dhoby...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-89686","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-nky","jetpack-related-posts":[{"id":77746,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/eunos-mansion-up-for-en-bloc-sale-at-asking-price-of-218m\/","url_meta":{"origin":89686,"position":0},"title":"Eunos Mansion up for en bloc sale at asking price of $218m","date":"January 23, 2018","format":false,"excerpt":"\r Built in the mid-1980s, Eunos Mansion features 107 apartments. 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Zoned residential under the\u2026","rel":"","context":"In "Property News"","img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":88231,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/goldhill-shopping-centre-in-novena-on-sale-for-425m\/","url_meta":{"origin":89686,"position":2},"title":"Goldhill Shopping Centre in Novena on sale for $425m","date":"May 15, 2018","format":false,"excerpt":"\r The asking price works out to a land rate of about $2,597 psf per plot ratio. 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