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). With a guide price of $37 million, these properties present an attractive investment opportunity for both local and foreign buyers looking for potential capital gains and stable rental yield.
The shophouses are situated across two plots of land measuring 5,766 sq ft, with an average land rate of $6,417 psf. The first plot consists of 762 and 764 North Bridge Road, sharing a 2,891 sq ft plot of land with a built-up area of 4,917 sq ft, including a mezzanine level. The remaining two shophouse units at 766 and 768 North Bridge Road are situated on an adjacent plot spanning 2,875 sq ft with a built-up area of 4,657 sq ft, also including a mezzanine level.
Exclusively marketed by Isabel Sim, associate senior marketing director at Huttons Asia, these shophouses offer potential buyers the opportunity to increase their usable area by extending the rear for an outdoor terrace on the second floor. This could add an estimated 1,000 sq ft for each land plot, subject to approvals from the relevant authorities.
The shophouses are currently tenanted by a variety of businesses including a fitness retail shop, convenience store, and massage and reflexology service providers. As commercial properties, future buyers are exempt from Additional Buyer’s Stamp Duty (ABSD), making these shophouses even more appealing as an investment.
Located in the historic Kampong Glam Conservation enclave, these shophouses boast a prime central location and enjoy high visibility and footfall along North Bridge Road. They are also within walking distance of Bugis MRT Interchange, providing accessibility to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.
The area is well-known for its cultural significance and is home to iconic landmarks such as the Sultan Mosque and the Malay Heritage Centre. Due to its vibrant commercial environment, it has become popular among both locals and tourists.
Interested buyers can submit their expressions of interest until January 10, 2025, at noon. For more information, please contact Isabel Sim Cheng Yi at 81802707, Associate Senior Marketing Director (R065855G) of Huttons Asia Pte Ltd.
The demand for condominiums in Singapore remains robust, driven by the country’s limited land availability. As a small but densely populated island, Singapore faces the challenge of efficiently managing development and land scarcity. As a result, stringent regulations are in place to control land usage, resulting in a competitive real estate market and escalating property prices. This has rendered the condo market a highly sought-after investment for investors, offering the potential for high returns and capital appreciation. Looking ahead, the demand for condos in Singapore is projected to endure for numerous years, making it a lucrative opportunity for investors.