A set of four commercial shophouses located in the vibrant Kampong Glam district is now available for purchase. The portfolio, which includes one shophouse at 734 North Bridge Road and three at 69, 70, and 71 Bussorah Street, is being marketed by Knight Frank Singapore with a guide price of $33.3 million. Interested buyers have the option to purchase the properties individually or as a whole.
The shophouse at 734 North Bridge Road has a land area of approximately 1,435 sq ft. This two-storey conservation property boasts a built-up area of 3,418 sq ft and has permanent approval for restaurant use on the ground floor. Currently, the shophouse is occupied by a halal-certified Indonesian-Japanese fusion ramen restaurant on the ground floor, while the upper floors are tenanted by two office tenants.
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The remaining three shophouses at 69, 70, and 71 Bussorah Street are adjoining two-storey conservation shophouses located along a pedestrian thoroughfare leading to Sultan Mosque. With a combined land area of 3,061 sq ft, the properties offer a collective built-up area of 5,667 sq ft. These shophouses are fully tenanted, with restaurants on the ground floor and offices on the second floor.
According to Tania Ong, Senior Manager at Knight Frank Singapore, the shophouses can be purchased individually with prices ranging from $9.5 million to $12 million. She also notes that the properties present a great investment opportunity with their strong tenant covenants and immediate rental income.
Ong believes that the shophouses will benefit from the ongoing rejuvenation happening in the Kampong Glam area. In 2023, URA and the Kampong Gelam Alliance, a group of stakeholders comprising residents, cultural institutions, and businesses, unveiled a five-year blueprint to enhance the historic precinct. This includes initiatives such as improving connectivity and accessibility, introducing cycling lanes and bike parking areas, and placemaking projects.
The shophouses are currently available for sale through an expression of interest exercise that will close on August 19 at 3 pm. For buyers interested in owning a piece of the vibrant Kampong Glam district, this is an opportunity not to be missed.