Prospective purchasers of the building will have naming and signage rights and flexibility for change of use, says Loyalle Chin, associate group division director at PropNex.
SINGAPORE (EDGEPROP) - A 999-year leasehold commercial building, Bugis Point on North Bridge Road, is on the market for $92 million. The building has a total floor area of 19,902 sq ft, and hence the indicative price translates to about $4,623 psf on the floor area.
The property is at 530 North Bridge Road and according to PropNex Realty, the marketing agent. The six-storey commercial property is on a 2,784 sq ft site and it has a basement and roof garden.
The building has an 18m frontage on North Bridge Road and is located between Tan Quee Lan Street and Liang Seah Street. This places the building in front of Bugis Junction and beside the upcoming Guoco Midtown integrated project. Other prime commercial buildings in the area include Raffles Hospital, Parkview Square, and Duo. (Find Singapore commercial properties with our commercial directory)
It is near Bugis MRT Interchange Station on the East-West and Downtown Lines, while major roads that serve the area are Nicoll Highway, Rochor Road, and Victoria Street.
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According to Loyalle Chin, associate group division director at PropNex, the property is fully leased. The basement and ground floor are leased to a restaurant, while the remaining floors are leased to karaoke operators.
“Prospective purchasers of the building will have naming and signage rights and flexibility for change of use such as 24-hour restaurants and cloud kitchen, private clubs, offices and co-living units,” says Chin.
The expression of interest for the sale will close on April 18.
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