A bundle of four conservation shophouses located at 762, 764, 766, and 768 North Bridge Road is now available for purchase through an expression of interest (EOI) with a suggested price of $37 million.
These shophouses span across two plots of land with a combined area of 5,766 sq ft and an average land rate of $6,417 psf. The first plot consists of 762 and 764 North Bridge Road and covers an area of 2,891 sq ft with a built-up space of 4,917 sq ft, including a mezzanine level. The second plot contains 766 and 768 North Bridge Road, occupying a space of 2,875 sq ft with a built-up area of 4,657 sq ft, including a mezzanine level.
Investing in a condo in Singapore has become an increasingly sought-after option for both domestic and international investors, thanks to the country’s strong economy, stable political climate, and excellent quality of life. The real estate market in Singapore boasts a multitude of prospects, with condos in particular standing out for their convenience, amenities, and potential for lucrative returns. In this article, we will delve into the advantages, considerations, and necessary steps to take when making a condo investment in Singapore.
Isabel Sim, associate senior marketing director at Huttons Asia, is exclusively promoting the properties. She also states that there is a possibility to extend the rear and create an outdoor terrace on the second floor, subject to approval from relevant authorities. The potential extension could increase the usable area of each property by approximately 1,000 sq ft.
The shophouses are currently tenanted by a fitness retail store, a convenience store, and massage and reflexology services. As commercial properties, buyers will be exempt from Additional Buyer’s Stamp Duty (ABSD), making it an attractive investment opportunity for both local and foreign investors looking for potential capital gains and stable rental yield, according to Sim.
All four shophouses enjoy prominent frontage along North Bridge Road, situated in the vibrant and historical Kampong Glam Conservation enclave. They are also within walking distance to Bugis MRT Interchange, providing accessibility to the East-West and Downtown Lines and Nicoll Highway MRT Station along the Circle Line.
The area has become popular among tourists and locals due to its prime central location, historical significance, and bustling commercial environment. Famous landmarks such as Sultan Mosque and the Malay Heritage Centre, once the Istana Kampong Glam, are located nearby.
Interested parties can submit their expressions of interest before January 10, 2025, at noon.
For more information, please contact Isabel Sim Cheng Yi at 81802707, associate senior marketing director (R065855G), Huttons Asia Pte Ltd.