A row of four freehold conservation shophouses located at 762, 764, 766 and 768 North Bridge Road is currently available for purchase through an expression of interest (EOI). The guide price for these properties is $37 million.
These shophouses are situated on two plots of land measuring 5,766 square feet, with an average land rate of $6,417 per square foot. The first plot includes units 762 and 764 North Bridge Road, which share a 2,891 square foot plot of land with a built-up area of 4,917 square feet (including a mezzanine level). The remaining two units, 766 and 768 North Bridge Road, are located on an adjacent plot of 2,875 square feet with a built-up area of 4,657 square feet (including a mezzanine level).
Marketing for these properties is being handled exclusively by Isabel Sim, Associate Senior Marketing Director at Huttons Asia. According to Sim, the usable area of each property could be expanded by adding an outdoor terrace on the second floor, subject to approval from relevant authorities. This could potentially increase the usable area by 1,000 square feet for each plot.
The current tenants of these shophouses include a fitness retail shop, convenience store, and massage and reflexology services. As commercial properties, potential buyers are exempt from Additional Buyer’s Stamp Duty (ABSD), making these shophouses an attractive investment opportunity for both local and foreign investors seeking capital gains and rental yield stability.
The shophouses boast a prime location along North Bridge Road, with high visibility and footfall in the historic Kampong Glam Conservation area. They are within walking distance of Bugis MRT Interchange, providing easy access to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.
Due to its central location, historical significance, and vibrant commercial environment, the Kampong Glam area has become increasingly popular among locals and tourists alike. The iconic Sultan Mosque and Malay Heritage Centre, both located nearby, add to the charm of the area.
Investing in a condominium in Singapore offers numerous benefits, one of the most significant being the potential for capital appreciation. This is largely due to Singapore’s strategic placement as a global business hub and its robust economic foundations, which drive a constant demand for real estate. In the past years, the real estate market in Singapore has consistently witnessed a steady increase in property prices, with condos in prime locations experiencing substantial appreciation. For investors who make strategic purchases at the right time and hold onto their properties for an extended period, the potential for significant capital gains is evident. As a result, many investors are now turning to Singapore Projects as a smart investment choice for long-term financial growth.
The EOI exercise for these shophouses will close on January 10, 2025, at noon. For more information, interested parties can contact Isabel Sim at 81802707, Associate Senior Marketing Director at Huttons Asia (R065855G).