999-year shophouse on South Bridge Road up for sale

/ EdgeProp
September 18, 2018 3:38 PM SGT
A four-storey commercial shophouse at 65 South Bridge Road is on the market for $13.8 million, announced marketing agent CBRE. The 999-year leasehold property sits on a 1,402 sq ft plot and has a total gross floor area (GFA) of 4,662 sq ft. The guide price translates to $2,960 psf on the GFA.
The shophouse is located between Boat Quay and Clarke Quay, and is part of a row of shophouses offering a mix of commercial, entertainment, cultural, and lifestyle attractions. There is a ready catchment of customers from the Central Business District, and it is 180m to the Clarke Quay MRT station.
On the market is 65 South Bridge Road (centre), a 999-year commercial shophouse, with a $13.8 mil asking price. (Picture: CBRE)
The property is expected to attract “strong interest” as shophouses in Boat Quay with “excellent” street frontage and this type of tenure are limited, says Sammi Lim, director of capital markets at CBRE.
CBRE recently concluded the sale of a 99-year conservation shophouse at 9 Hongkong Street, at $2,513 psf on the GFA. Other recent shophouse transactions in the Boat Quay/Clarke Quay area included a portfolio comprising 61/77 Boat Quay, 17/45/46 Circular Road, and 52 Boat Quay, which recorded a price range of $3,150 to $3,388 psf.
The tender for 65 South Bridge Road closes on Oct 19.