A row of four freehold 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.
These properties are located across two plots of land spanning 5,766 sq ft, with an average land rate of $6,417 psf. The first plot includes 762 and 764 North Bridge Road, sharing 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 at 766 and 768 North Bridge Road are situated on a separate plot of 2,875 sq ft, with a built-up area of 4,657 sq ft, including a mezzanine level.
Marketing the properties exclusively is Isabel Sim, associate senior marketing director at Huttons Asia. According to Sim, the usable area of each property could be expanded by extending the rear to create an outdoor terrace on the second floor, subject to relevant authorities’ approvals. This could potentially increase the usable area by approximately 1,000 sq ft per land plot.
The shophouses are currently tenanted by a fitness retail shop, convenience store, and massage and reflexology service providers. As commercial properties, potential buyers are not subjected to Additional Buyer’s Stamp Duty (ABSD), making them an attractive investment for both local and foreign buyers seeking stable rental yields and potential capital gain.
When contemplating investing in a condo, it is crucial to examine its potential rental yield. This refers to the annual rental income in comparison to the purchase price of the property. The rental yield for condos in Singapore can vary greatly depending on factors like location, property condition, and market demand. Generally, areas with a high demand for rentals, such as those near commercial hubs or educational institutions, offer better rental yields. It is beneficial to conduct thorough market research and seek advice from real estate agents to gain valuable insights on a specific condo’s rental potential.
All four shophouses command prominent frontage along North Bridge Road, benefitting from high visibility and footfall in the historic Kampong Glam Conservation enclave. Furthermore, they are conveniently located within walking distance to 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’s prime central location, rich historical significance, and vibrant commercial environment have made it a popular spot for both locals and tourists alike. Notable landmarks such as Sultan Mosque (located just down the road from the properties) and the Malay Heritage Centre (situated on the former grounds of Istana Kampong Glam) have enhanced the area’s appeal.
The EOI exercise is set to close on January 10, 2025, at noon. For more information, interested parties can contact Isabel Sim Cheng Yi at 81802707, Associate Senior Marketing Director (R065855G) of HUTTONS ASIA PTE. LTD.