A prime opportunity has emerged with the sale of four commercial shophouses in Kampong Glam, listed at a guide price of $33.3 million. This strategic listing includes notable properties situated at 734 North Bridge Road, along with three adjoining shophouses located at 69, 70, and 71 Bussorah Street. These properties represent a significant investment prospect in an area that is undergoing ongoing revitalization, making them attractive for both immediate rental income and longer-term investment growth.
The shophouse at 734 North Bridge Road boasts a land area of approximately 1,435 square feet and features a built-up area of 3,418 square feet. Currently, it is tenanted by a halal-certified Indonesian-Japanese fusion ramen restaurant, which indicates a thriving business presence and provides a reliable income stream for potential buyers. The restaurant’s success highlights the appeal of Kampong Glam as a vibrant dining destination, further enhancing the attractiveness of this property.
In addition to the North Bridge Road shophouse, the trio of adjoining shophouses on Bussorah Street presents an even larger investment opportunity. These properties have a combined land area of 3,061 square feet and a total built-up area of 5,667 square feet. Fully tenanted, the ground floors are occupied by restaurants, while the second floors accommodate offices, providing a diverse mix of income-generating tenants. This diversity not only ensures stability in rental income but also capitalizes on the foot traffic that the Kampong Glam area attracts from both locals and tourists.
The individual prices for these shophouses range from $9.5 million to $12 million, which positions them as competitive offerings within the commercial property market. Investors can benefit from strong tenant covenants, which assure immediate rental income, making these shophouses particularly appealing for those looking to enter or expand in the commercial real estate sector.
The sale will be executed through an expression of interest exercise, with submissions due by August 19 at 3 PM. This method allows potential buyers to present their bids in a structured manner, fostering a competitive environment that could drive interest and potentially increase the final sale price. Given the area’s ongoing revitalization efforts, there is a heightened sense of optimism surrounding the future of Kampong Glam, which further enhances the investment appeal of these shophouses.
As the commercial landscape continues to evolve, the strategic location of these properties in Kampong Glam—an area known for its cultural heritage and burgeoning dining scene—positions them as a prime investment opportunity. The combination of established tenants, potential for rental growth, and a vibrant neighborhood makes these shophouses a noteworthy consideration for investors looking to capitalize on the commercial real estate market in Singapore.
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News Source: Edgeprop
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