A group of four heritage conservation shophouses located at 762, 764, 766 and 768 North Bridge Road are now available for purchase through an expression of interest (EOI) with a guide price of $37 million.
The row of shophouses is spread across two plots of land, totaling 5,766 sq ft, with an average land rate of $6,417 psf. The first plot consists of 762 and 764 North Bridge Road, sitting on a 2,891 sq ft plot of land and featuring a built-up area of 4,917 sq ft, including a mezzanine level. The other two units, 766 and 768 North Bridge Road, are situated on an adjacent plot measuring 2,875 sq ft and have a built-up area of 4,657 sq ft, including a mezzanine level.
Isabel Sim, associate senior marketing director at Huttons Asia, is exclusively marketing the properties. According to Sim, the usable area of each unit can be expanded by extending the rear and creating an outdoor terrace on the second floor, subject to approvals from the relevant authorities. This could potentially add 1,000 sq ft of usable space for each unit.
Currently, the properties are occupied by a fitness retail shop, a convenience store, and massage and reflexology service providers. As commercial properties, prospective buyers will be 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.
In summary, purchasing a condo in Singapore offers a multitude of benefits, including strong demand, potential for value appreciation, and appealing rental returns. Nevertheless, it is crucial to carefully assess elements such as location, financing options, government regulations, and market conditions. Through thorough research and seeking expert guidance, investors can make well-informed decisions and maximize their investments in Singapore’s dynamic real estate industry. Whether you are a local entrepreneur looking to diversify your portfolio or a foreign purchaser seeking a stable and lucrative investment opportunity, Singapore’s condos offer a compelling option.
The four shophouses have prominent frontage along North Bridge Road, enjoying high visibility and footfall in the historic Kampong Glam Conservation enclave. They are also conveniently located within walking distance to Bugis MRT Interchange, providing accessibility to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.
The area, with its prime central location, historical significance, and vibrant commercial environment, has become a popular destination among locals and tourists. Iconic landmarks like Sultan Mosque and the Malay Heritage Centre, both within close proximity to the properties, add to the area’s appeal.
Interested parties can submit their EOI by January 10, 2025, at noon. For more information on this rare and lucrative investment opportunity, please contact Isabel Sim Cheng Yi at 81802707, Associate Senior Marketing Director (R065855G) from Huttons Asia Pte Ltd.