SINGAPORE, 27 May 2013 – Jones Lang LaSalle Property Consultants Pte Ltd as the sole marketing agent, is pleased to offer The House of Tan Yeok Nee, located at the corner of Penang Road and Clemenceau Avenue for sale via a tender process.
The offering provides an opportunity for owner-occupiers and investors to acquire a freehold commercial building located between Singapore’s Premier Shopping District and Central Business District.
The House of Tan Yeok Nee is located on a prominent corner within minutes’ walk to Dhoby Ghaut MRT Station along the North-East Line and has direct access to the Central Expressway (CTE). The building was gazetted a National Monument by the Preservations of Monument Board in 1974 and won special commendation from the Paris-based FIABCI at the Prix d'Excellence in 2002. Subject to approval from relevant authorities, there is potential for alternative uses including a flagship office building, specialist retail, hospitality or F&B usage.
Anthony Barr, National Director, Investments comments “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..”
The tender exercise will close at 3pm on Friday, 5th July 2013.
Notes to editors
About Jones Lang LaSalle
Jones Lang LaSalle (NYSE:JLL) is a professional services and investment management firm offering specialized real estate services to clients seeking increased value by owning, occupying and investing in real estate. With annual revenue of $3.9 billion, Jones Lang LaSalle operates in 70 countries from more than 1,000 locations worldwide. On behalf of its clients, the firm provides management and real estate outsourcing services to a property portfolio of 2.6 billion square feet. Its investment management business, LaSalle Investment Management, has $47.0 billion of real estate assets under management.
Jones Lang LaSalle has over 50 years of experience in Asia Pacific, with over 25,100 employees operating in 78 offices in 14 countries across the region. The firm was named ‘Best Property Consultancy’ in nine Asia Pacific countries at the International Property Awards Asia Pacific 2012, in association with HSBC, and was named the number one real estate advisory firm in Asia Pacific in the Euromoney Real Estate Awards 2012. www.ap.joneslanglasalle.com , www. Joneslanglasalle.com.sg
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