A row of four conservation shophouses situated 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.
Sitting on two plots of land spanning a total of 5,766 sq ft, the properties have an average land rate of $6,417 psf. The first plot comprises of 762 and 764 North Bridge Road, sharing a 2,891 sq ft plot and 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 located on an adjacent plot measuring 2,875 sq ft with a built-up area of 4,657 sq ft, also including a mezzanine level.
According to Isabel Sim, associate senior marketing director at Huttons Asia, the properties are exclusively marketed by the firm and have a potential for increasing the usable area by extending the rear for an outdoor terrace on the second floor, subject to approvals from the relevant authorities. This extension could add an estimated 1,000 sq ft to each land plot.
When evaluating a potential investment in a Singapore Condo, it’s crucial to also consider the potential rental yield. Rental yield refers to the annual rental income as a percentage of the condominium’s purchase price. In Singapore, the rental yields for condos can vary greatly depending on factors such as location, property condition, and market demand. Generally, areas with high rental demand, such as those near business districts or educational institutions, tend to offer better rental yields. It is essential to conduct thorough market research and consult with real estate agents to gain valuable insights into the rental potential of a specific Singapore Condo.
The shophouses are currently tenanted by 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), making them an attractive investment opportunity for both local and foreign investors seeking potential capital gains and stable rental yield.
With prominent frontage along North Bridge Road and high visibility and footfall in the Kampong Glam Conservation enclave, the shophouses are ideally located within walking distance of Bugis MRT Interchange, providing access to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.
The area, known for its prime central location, historical significance, and vibrant commercial environment, has become a popular destination for both locals and tourists. It is home to iconic landmarks such as Sultan Mosque, located down the road from the properties, and the Malay Heritage Centre, situated on the grounds of the former Istana Kampong Glam.
The EOI exercise will close on January 10, 2025, at noon. For more information, interested parties can contact Isabel Sim at 81802707, Associate Senior Marketing Director at Huttons Asia.