The two-storey shophouse has a floor area of 2,582 sq ft (Picure: Savills Singapore)
A two-storey shophouse at 201 South Bridge Road is up for sale through an expression of interest (EOI) exercise with a guide price of $8.8 million or $3,408 psf on the floor area. The shophouse occupies a land area of 1,049 sq ft zoned for commercial use and has a floor area of 2,582 sq ft.
Map and overview of 201 South Bridge Road (Source: EdgeProp LandLens)
According to Savills Singapore, which is marketing the property, the shophouse underwent extensive renovations in 2022. Besides being updated to modern specifications, it also features a fully decked, open terrace on the second floor.
The shophouse has approval for restaurant use on the ground floor and office use on the second floor. It is currently fully tenanted. Subject to approval from authorities, the second floor could be converted for restaurant use, Savills adds.
Read also: SilkRoad Property Partners to sell South Bridge Road shophouses for $50 mil
Sophia Lim, director of investment sales and capital markets at Savills Singapore, expects the property to benefit from increased footfall due to its location next to the upcoming Mercure Icon Singapore City Centre hotel at 8 Club Street. The 989-key property is slated to open by this quarter. "Prospective buyers can also expect to enjoy further rental and capital value upside from the property, benefitting from the increased vibrancy in the near term,” she continues.
Lim believes the shophouse’s location and price will be a major draw. “This property will be sought after by buyers who would like to acquire a CBD shophouse in an exciting precinct that is still undergoing urban transformation,” she says.
Recent commercial transactions on South Bridge Road (Source: EdgeProp Research)
The EOI exercise for 201 Bridge Road will close on March 27 at 3pm.