A row of four freehold conservation shophouses located at 762, 764, 766 and 768 North Bridge Road is on sale via an expression of interest exercise (Photo: Samuel Isaac Chua / EdgeProp Singapore)
A row of four freehold conservation shophouses located at 762, 764, 766 and 768 North Bridge Road is on sale via an expression of interest (EOI) with a guide price of $37 million.
The properties are situated across two plots of land measuring 5,766 sq ft, reflecting an average land rate of $6,417 psf.
The first plot consists of 762 and 764 North Bridge Road. They share 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, including a mezzanine level.
The properties are situated across two plots of land measuring 5,766 sq ft, reflecting an average land rate of $6,417 psf. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
The properties are exclusively marketed by Isabel Sim, associate senior marketing director at Huttons Asia.
According to Sim, the usable area of each property could be increased by extending the rear for an outdoor terrace on the second floor, subject to approvals from the relevant authorities. The extension could increase the usable area by an estimated 1,000 sq ft for each land plot.
Tenants include a fitness retail shop, a convenience store and massage and reflexology service providers.
The usable area of each property could be increased by extending the rear for an outdoor terrace on the second floor, subject to approvals from the relevant authorities. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
As commercial properties, prospective buyers are exempt from Additional Buyer’s Stamp Duty (ABSD) on the shophouses. This makes them an attractive investment opportunity for both local and foreign buyers looking for potential capital gains and stable rental yield, says Sim.
All four shophouses feature prominent frontage along North Bridge Road and enjoy high visibility and footfall in the historic Kampong Glam Conservation enclave.
The shophouses are within walking distance of Bugis MRT Interchange, providing accessibility to the East-West and Downtown Lines and Nicoll Highway MRT Station along the Circle Line.
Due to the area's prime central location, historical significance and vibrant commercial environment, the area has become popular among locals and tourists.
The shophouses are within walking distance of Bugis MRT Interchange, providing accessibility to the East-West and Downtown Lines. (Photo: Samuel Isaac Chua / EdgeProp Singapore)
The area is also home to iconic landmarks such as Sultan Mosque – located down the road from the properties – and the Malay Heritage Centre, which sits on the grounds of the former Istana Kampong Glam.
The EOI exercise will close on January 10, 2025, at noon.
For more information,
Contact ISABEL SIM CHENG YI | 81802707
Associate Senior Marketing Director (R065855G)
HUTTONS ASIA PTE. LTD.