Commercial shophouse on New Bridge Road up for sale, valued at $22 mil

The ground-floor commercial unit of the shophouse is accepted for dining establishment use, while the top floorings appropriate for office use, as a store, or food takeaway stall. The acquisition is open to international as well as neighborhood customers, as well as the transaction will certainly not bring in additional buyer’s stamp responsibility or vendor’s stamp responsibility.

“The conservation shophouse market has outshined in recent years. Its limited supply as well as heritage charm not simply draws in real estate funds however also family members offices as well as high-net-worth people who compare investing in shophouses to buying art,” says Steven Ming, handling companion at Sakal.
He adds that investment demand for conservation shophouses is expected to stay durable in the coming months “given the weight of personal riches that is making appropriations right into Singapore realty”.

Read likewise: 2 1/2 storey freehold conservation shophouse in Lavender up for sale at $7.5 mil
While there is no a sign rate or guide cost offered, Sakal states that the residential property was lately valued at about $22 million, on the basis of a refurbished shophouse with an enlarged flooring area of 6,063 sq ft.

A business shophouse at 21 New Bridge Road has actually been put up for sale and also the four-storey business shophouse will certainly be offered in an exclusive treaty sale, according to a news release by the marketing agent Sakal Realty Allies on Aug 15.

The vacant shophouse will have a gross flooring area of 5,034 sq ft, omitting the roofing balcony, at the end of the refurbishment functions. Given that the residential property lies within a secondary conservation area, the new owner has the option to get consent to add a rear extension which would bring the total gross flooring location as much as 6,063 sq ft, subject to authorizations, says Sakal.

The building is close to the F&B as well as entertainment shops and electrical outlets along Clarke Quay as well as Boat Quay. It is likewise near Raffles Place as well as Chinatown.

Bukit Batok EC Location

The four-storey shophouse, with a roof balcony, is currently undertaking a repair which is slated to be completed in 1Q2023. According to Sakal, the shophouse will certainly be sold on an as-is basis, if the new owner determines to embark on the repair by themselves.

The 99-year leasehold home rests on a 1,443 sq ft story that is zoned business with a gross story ratio of 4.2 under the current Master Plan. The land period was renewed to a fresh 99-year lease in December 2021.

A snapshot of shophouse purchases in District 1 over the recent 12-month period, showcased on EdgeProp’s analytics device Market Watch
The preservation shophouse delights in a famous street level frontage along New Bridge Road, and the building has direct protected access to Clarke Quay Central Mall across the street. The shopping center is connected to Clarke Quay MRT Station on the North-East Line.

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