SINGAPORE (EDGEPROP) - A block of five adjoining freehold conservation shophouses in Kampong Glam is up for sale via public tender at a guide price of $23.8 million.
Located at the prime corner of Baghdad Street and Muscat Street, Nos. 17, 19, 21, 23 and 25 Baghdad Street have five individual titles. They have a total land area of 4,892 sq ft and a gross floor area of about 8,013 sq ft. They are zoned for commercial use under the 2014 Master Plan. Currently fully tenanted, they are occupied as F&B outlets on the ground floor and offices or additional dining areas on the upper floors.
There will be no additional buyer’s stamp duty and seller’s stamp duty payable. Foreigners and companies are eligible to purchase.
Mary Sai, executive director of investment and capital markets at Knight Frank Singapore, notes that “more often than not, transactions in the vicinity are of a smaller scale, such as a single shophouse unit with a land area of about 700 sq ft to 1,500 sq ft at say, Bali Lane or Bussorah Street”. In July last year, a shophouse at Bussorah Street with a land area of 1,741 sq ft and a balance lease of 83 years was sold for $5 million.
Sai says that at the guide price for the five shophouses, “the potential for capital appreciation is indeed promising”.
The public tender will close on Oct 24.
For price trends, recent transactions, other project info, check out the Kampong Glam Conservation Area project research page
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