A row of four freehold conservation shophouses located at 762, 764, 766 and 768 North Bridge Road is up for sale through an expression of interest (EOI). With a guide price of $37 million, these properties offer a prime investment opportunity in the vibrant Kampong Glam Conservation enclave.
Sitting on two plots of land measuring a total of 5,766 sq ft, the shophouses command a high average land rate of $6,417 psf. The first plot includes 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 other two units at 766 and 768 North Bridge Road sit on a 2,875 sq ft plot with a built-up area of 4,657 sq ft, including a mezzanine level.
In Singapore, the location of a property is a crucial factor to consider when making real estate investments. This is because certain areas hold more value and potential for growth than others. For instance, condos situated in central areas or near essential amenities such as schools, shopping malls, and public transportation hubs have shown a consistent appreciation in value over time. The Orchard Road, Marina Bay, and Central Business District (CBD) are some examples of prime locations where property values have consistently increased. In addition, having good schools and educational institutions in close proximity further adds to the appeal of condos in these areas, making them highly desirable for families and therefore boosting their investment potential. With new and upcoming developments such as the Singapore Projects, the real estate market in Singapore is only expected to continue flourishing in these highly sought-after locations.
The demand for Singapore Condos remains strong, largely due to the country’s limited land availability. As a small island nation experiencing rapid population growth, Singapore grapples with a scarcity of land suitable for development. To combat this issue, the government has implemented strict land use policies, resulting in a highly competitive real estate market where property prices continue to rise. As a result, investing in real estate, particularly Singapore Condos, has become a highly profitable venture with the potential for significant capital appreciation. Visit Singapore Condo for more information.
These shophouses are exclusively marketed by Isabel Sim, associate senior marketing director at Huttons Asia, who notes that the usable area of each property could be expanded by adding rear extensions for outdoor terraces on the second floor, pending approvals from relevant authorities. This could potentially increase the usable area by 1,000 sq ft for each land plot.
Tenants currently occupying the shophouses include a fitness retail store, convenience store, and massage and reflexology service providers. As commercial properties, both local and foreign buyers looking for potential capital gains and stable rental yield are exempt from Additional Buyer’s Stamp Duty (ABSD) on these shophouses, making them an attractive investment opportunity.
With prominent frontage along North Bridge Road, these shophouses enjoy high visibility and footfall in the historic Kampong Glam Conservation enclave. Furthermore, their strategic location within walking distance of Bugis MRT Interchange, providing access to the East-West and Downtown Lines, and Nicoll Highway MRT Station along the Circle Line makes them easily accessible.
Kampong Glam’s prime central location, rich historical significance, and vibrant commercial environment have made it a popular destination for both locals and tourists. The area is home to iconic landmarks such as the Sultan Mosque and the Malay Heritage Centre. The EOI exercise for these shophouses will close on January 10, 2025, at noon.
For more information, interested parties can contact Isabel Sim Cheng Yi at 81802707, Associate Senior Marketing Director at Huttons Asia (R065855G).