Advertisement
Singapore markets closed

  • Straits Times Index

    3,367.90
    +29.33 (+0.88%)
     

  • S&P 500

    5,475.09
    +14.61 (+0.27%)
     

  • Dow

    39,169.52
    +50.66 (+0.13%)
     

  • Nasdaq

    17,879.30
    +146.70 (+0.83%)
     

  • Bitcoin USD

    62,562.58
    -293.49 (-0.47%)
     

  • CMC Crypto 200

    1,339.05
    -5.45 (-0.41%)
     

  • FTSE 100

    8,144.10
    -22.66 (-0.28%)
     

  • Gold

    2,334.50
    -4.40 (-0.19%)
     

  • Crude Oil

    84.04
    +0.66 (+0.79%)
     

  • 10-Yr Bond

    4.4790
    +0.1360 (+3.13%)
     

  • Nikkei

    40,074.69
    +443.63 (+1.12%)
     

  • Hang Seng

    17,769.14
    +50.53 (+0.29%)
     

  • FTSE Bursa Malaysia

    1,597.96
    -0.24 (-0.02%)
     

  • Jakarta Composite Index

    7,125.14
    -14.48 (-0.20%)
     

  • PSE Index

    6,358.96
    -39.81 (-0.62%)
     

Pair of adjoining shophouses on South Bridge Road for sale at $50 mil

Atiqah Mokhtar
·1-min read


The four-storey shophouses have a floor area totalling 11,008 sq ft (Picture: Knight Frank)

A pair of adjoining conservation shophouses at 273 and 275 South Bridge Road are up for sale through an expression of interest (EOI) exercise with a guide price of $50 million. The 999-year leasehold, four-storey shophouses occupy a land area of 3,089 sq ft and have a floor area of approximately 11,008 sq ft. The guide price works out to $4,542 psf on the floor area.


Map showing location of 273 South Bridge Road (Source: EdgeProp LandLens)

The shophouses have approval for use as a co-living hotel on its upper floors and as shops on the ground floor. The upper floors are currently tenanted by a co-living hotel operator.

ADVERTISEMENT

Mary Sai, executive director of investment and capital markets at Knight Frank Singapore, which is marketing the property, notes that the shophouses are ideal for investment, given their 999-year leasehold tenure which allows for long-term capital gains. The future buyer would also enjoy immediate rental income, with potential for rental upside upon lease renewals.

Read also: Joo Chiat Road conservation shophouse on the market for $10.5 mil

Given their commercial zoning, no additional buyer’s stamp duty or seller’s stamp duty is payable on the properties.

The shophouses are a four-minute walk from Chinatown MRT Station (Interchange for the Downtown and North-East Lines) as well as Maxwell MRT Station (Thomson-East Coast Line).


Recent sales transactions of commercial properties on South Bridge Road (Source: EgdeProp Research)

The EOI exercise for 273 and 275 South Bridge Road will close on April 3 at 3pm.

See Also: