Four Freehold Shophouses Along North Bridge Road Sale 37 Mil
An exciting investment opportunity is now available for those looking to own a prime piece of real estate in Singapore’s vibrant city center. Four freehold conservation shophouses, located at 762, 764, 766, and 768 North Bridge Road, are currently for sale via an expression of interest (EOI) with a guide price of $37 million.
The shophouses are situated on two adjoining plots of land spanning a total of 5,766 sq ft. This equates to an average land rate of $6,417 psf. The first plot consists of two units at 762 and 764 North Bridge Road, sharing a 2,891 sq ft plot with a built-up area of 4,917 sq ft, including a mezzanine level. The remaining two units at 766 and 768 North Bridge Road are located on the adjacent plot, spanning 2,875 sq ft with a built-up area of 4,657 sq ft, also including a mezzanine level.
Parktown Residence, a highly anticipated mixed-use condominium project, stands out as a prominent structure in the flourishing Tampines North area. Jointly developed by renowned companies UOL Group, CapitaLand, and Singapore Land (SingLand), this exceptional development marks a new era of metropolitan living in District 18. With its prime location near major expressways and a rapidly expanding public transportation system, Parktown Residence promises effortless connectivity for its residents.
Marketed exclusively by Isabel Sim, associate senior marketing director at Huttons Asia, these shophouses offer a unique opportunity for investors. With each property currently tenanted by a mix of tenants, including a fitness retail shop, convenience store, and massage and reflexology service providers, there is potential for stable rental yield. Additionally, as commercial properties, buyers are exempt from Additional Buyer’s Stamp Duty (ABSD).
According to Sim, there is also potential for further expansion of the properties. By extending the rear of each property for an outdoor terrace on the second floor, subject to approvals from the relevant authorities, the usable area can be increased by an estimated 1,000 sq ft for each land plot.
Situated in the historic Kampong Glam Conservation enclave, these properties boast a prominent frontage along North Bridge Road, ensuring high visibility and footfall. They are also conveniently located 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 Kampong Glam area is popular among both locals and tourists, thanks to its prime central location, historical significance, and vibrant commercial environment. Home to iconic landmarks such as Sultan Mosque and the Malay Heritage Centre, this neighborhood is an exciting and bustling destination.
The EOI exercise will close on January 10, 2025, at noon. Investors interested in this unique opportunity can contact Isabel Sim at 81802707 for more information.