A parcel of four freehold conservation shophouses standing at 762, 764, 766 and 768 North Bridge Road has been put up for sale through an expression of interest (EOI) at a guide price of $37 million. These shophouses are divided across two plots of land measuring 5,766 square feet, with an average land rate of $6,417 per square foot. The first plot consists of 762 and 764 North Bridge Road, sharing a land area of 2,891 square feet and a built-up area of 4,917 square feet, including a mezzanine level. The other two units, 766 and 768 North Bridge Road, sit on an adjacent plot of 2,875 square feet and have a built-up area of 4,657 square feet, including a mezzanine level.
Huttons Asia, through its associate senior marketing director Isabel Sim, is exclusively marketing the properties. Sim notes that the usable area of each shophouse can be increased by extending the rear to create an outdoor terrace on the second floor, subject to approvals from the relevant authorities. This extension could potentially add an extra 1,000 square feet to each land plot. The current tenants include a fitness retail shop, a convenience store, and massage and reflexology service providers.
One of the main attractions of these shophouses is their commercial status, which exempts prospective buyers from Additional Buyer’s Stamp Duty (ABSD). This makes them a highly sought-after investment opportunity for both local and foreign buyers, who are interested in capital gains and a stable rental yield, says Sim.
Investing in a condo in Singapore brings with it a multitude of advantages, one of the most prominent being its potential for capital appreciation. The city-state’s prime location as a global business hub, combined with its robust economic foundations, continually drives demand for real estate. In recent years, property prices in Singapore have consistently shown a positive trend, particularly for condos located in sought-after areas. Those who wisely enter the market at an opportune time and hold onto their properties for an extended period can reap significant capital gains. With the added potential provided by a Singapore Condo, investing in this market is a sound choice for those seeking long-term financial growth.
Located in the historic Kampong Glam Conservation enclave, all four shophouses boast a prominent frontage along North Bridge Road, ensuring high visibility and footfall. The area is highly accessible via public transport, within walking distance to Bugis MRT Interchange, providing access to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.
The strategic central location, rich historical significance, and vibrant commercial environment have made this area a popular destination for both locals and tourists. It is also home to iconic landmarks such as Sultan Mosque and the Malay Heritage Centre, which sits on the grounds of the former Istana Kampong Glam.
Interested parties can express their interest through the EOI exercise, which will close on January 10, 2025, at noon. For more information, contact Isabel Sim Cheng Yi, associate senior marketing director of Huttons Asia Pte Ltd.