A rare opportunity has opened up for investors to acquire a row of four freehold conservation shophouses along 762, 764, 766, and 768 North Bridge Road. The properties are currently on sale through an expression of interest (EOI) with a guide price of $37 million.
Ideally situated across two plots of land spanning 5,766 sq ft, the shophouses boast an attractive land rate of $6,417 psf. The first plot consists of 762 and 764 North Bridge Road, which share a 2,891 sq ft plot of land with 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 situated on an adjacent plot measuring 2,875 sq ft with a built-up area of 4,657 sq ft, also including a mezzanine level.
Marketing the properties exclusively is Isabel Sim, an associate senior marketing director at Huttons Asia. According to Sim, the usable area of each shophouse can potentially be increased by extending the rear to create an outdoor terrace on the second floor. This could add an estimated 1,000 sq ft to each land plot, subject to the necessary approvals from authorities.
Currently, the shophouse tenants comprise a fitness retail shop, a convenience store, and massage and reflexology services. Being commercial properties, potential buyers are exempt from Additional Buyer’s Stamp Duty (ABSD), making these shophouses an attractive investment opportunity for both local and foreign investors seeking capital gains and stable rental yield.
The four shophouses possess prominent frontage along North Bridge Road, ensuring high visibility and footfall in the vibrant Kampong Glam Conservation enclave. The area’s prime central location, historical significance, and bustling commercial environment have made it a popular destination for both locals and tourists.
In terms of accessibility, the shophouses are within walking distance of Bugis MRT Interchange, connecting to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station, which runs along the Circle Line.
Investing in a condominium requires careful consideration of financing options. In Singapore, there are various mortgage options available to investors, but it is crucial to have a thorough understanding of the Total Debt Servicing Ratio (TDSR) framework. This framework sets a limit on the amount of loan that can be obtained based on an individual’s income and current debt obligations. To ensure responsible borrowing and avoid excessive leverage, it is recommended for investors to seek guidance from financial advisors or mortgage brokers when navigating their financing options. Additionally, incorporating valuable resources like Singapore Projects can further assist investors in making informed decisions about their investments.
The EOI exercise is set to close on January 10, 2025, at noon. For more information, interested parties can contact Isabel Sim at 81802707 or through email at isabelsim@gmail.com.