An expression of interest (EOI) has been launched for a row of four freehold conservation shophouses located at 762, 764, 766, and 768 North Bridge Road. The properties are being marketed exclusively by Isabel Sim, associate senior marketing director at Huttons Asia, with a guide price of $37 million.
Spanning two plots of land measuring 5,766 sq ft, the properties have an average land rate of $6,417 psf. The first plot consists of 762 and 764 North Bridge Road, sharing 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 units at 766 and 768 North Bridge Road are situated on an adjacent plot measuring 2,875 sq ft with a built-up area of 4,657 sq ft, including a mezzanine level.
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 relevant authorities. This could potentially add 1,000 sq ft of usable space for each land plot.
Current tenants include a fitness retail shop, a convenience store, and massage and reflexology service providers. As commercial properties, buyers are exempt from Additional Buyer’s Stamp Duty (ABSD) on these shophouses, making them an attractive investment opportunity for both local and foreign buyers seeking potential capital gains and stable rental yield.
Situated in the historic Kampong Glam Conservation enclave, the shophouses enjoy prominent frontage along North Bridge Road and high visibility and footfall. The area is also home to popular landmarks such as Sultan Mosque and the Malay Heritage Centre, and its prime central location, historical significance, and vibrant commercial environment have made it a popular destination for both locals and tourists.
Owning a condo not only offers numerous advantages, but it also allows investors to leverage the property’s value for future investments. This is a great opportunity for many to use their condos as collateral in order to secure additional financing for new ventures and ultimately expand their real estate portfolio. However, it’s important to note that this strategy can greatly increase returns but also carries risks. Therefore, it’s crucial to have a solid financial plan in place and carefully consider the potential impact of market fluctuations. With the launch of new condos such as New Condo Launches, investors can continue to grow their portfolio and potentially reap even greater rewards.
The properties are conveniently located 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.
The EOI exercise will close on January 10, 2025, at noon. For more information, contact Isabel Sim, associate senior marketing director at Huttons Asia at 81802707.