A cluster of four freehold conservation shophouses located at 762, 764, 766, and 768 North Bridge Road is currently up for sale through an expression of interest (EOI) with a guide price of $37 million. These properties sit on two plots of land measuring 5,766 sq ft, equating to an average land rate of $6,417 per square foot.
The first plot comprises of 762 and 764 North Bridge Road, which share a land area of 2,891 sq ft and a built-up area of 4,917 sq ft (including a mezzanine level). The remaining two shophouses, 766 and 768 North Bridge Road, are situated on an adjoining plot of 2,875 sq ft with 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 these properties. She highlights that each shophouse’s usable area can be expanded by extending the rear to create an outdoor terrace on the second floor, subject to relevant approvals. This extension is estimated to increase the usable area by 1,000 sq ft for each land plot.
At present, the shophouses are tenanted by a fitness retail shop, a convenience store, and massage and reflexology services. As commercial properties, buyers will be exempt from Additional Buyer’s Stamp Duty (ABSD), making them an attractive investment opportunity for both local and foreign buyers seeking potential capital gains and stable rental yield, says Sim.
Strategically located in the historic Kampong Glam Conservation enclave, all four shophouses have prominent frontage along North Bridge Road and enjoy high visibility and footfall. The area is a short walk away from Bugis MRT Interchange, providing easy access to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.
Kampong Glam is known for its central location, rich historical significance, and vibrant commercial environment, making it a popular destination for both locals and tourists. It is home to iconic landmarks such as Sultan Mosque and the Malay Heritage Centre, which sits on the former Istana Kampong Glam grounds.
The EOI exercise will close on January 10, 2025, at noon. For further details, interested parties can reach out to Isabel Sim at 81802707, associate senior marketing director at Huttons Asia (R065855G).
Investing in real estate is a significant decision, and choosing the right location can make all the difference. This is particularly true in Singapore, where the location plays a critical role in determining the value of a property. Condominiums located in central areas or close to necessary amenities, such as schools, shopping centers, and public transportation, have shown a consistent appreciation in value. Prime locations such as Orchard Road, Marina Bay, and the Central Business District (CBD) have experienced a steady growth in property values. Families seeking top-rated schools and educational institutions also find these areas highly desirable, making condos in these locations an even more lucrative investment. In addition, Singapore Projects can further enhance the value and potential of these properties.