Four conservation shophouses in Kampong Glam and Jalan Besar for sale at $34 mil
The mezzanine floor of the Dickson Road shophouse that opens into an internal courtyard (Photo: Orange Tee & Tie)
Four shophouses, comprising three in Kampong Glam and one at Jalan Besar — with a combined price of about $34 million — are up for sale via an expression of interest (EOI) exercise. The properties can be purchased individually or as a portfolio, says Adnic Lee, senior associate director at AAG Group, under OrangeTee & Tie, who is handling the sale. The individual shophouse prices range from $5.85 million to $10.8 million.
The shophouse for sale at Bussorah Street is surrounded by F&B and retail outlets catering to tourists (Photo: OrangeTee & Tie)
One of the Kampong Glam shophouses is located along Bussorah Street, the pedestrian strip fronting Sultan Mosque. The two-storey property has a land area of approximately 723 sq ft, with an estimated floor area of around 1,315 sq ft. Its guide price of $5.85 million translates to $4,449 psf based on its floor area. The asset, which has a 99-year leasehold tenure from 2003, is currently leased to a takeaway food operator.
Second floor of one of the shophouses at North Bridge Road with a mezzanine level (Photo: OrangeTee & Tie)
The other two Kampong Glam shophouses are situated along North Bridge Road. The first, a two-storey shophouse with a mezzanine level, has a built-up area of 3,090 sq ft. The property occupies a 1,400 sq ft plot with a 99-year leasehold tenure from 2007. It is approved for F&B use and is currently fully tenanted. Based on the built-up area, the shophouse has a guide price of $8.8 million, or $2,848 psf.
The vacant second floor of the second shophouse at North Bridge Road, with two washrooms and a pantry area (Photo: OrangeTee & Tie)
The second shophouse at North Bridge Road sits on a site measuring 1,398 sq ft, with a total floor area of about 2,802 sq ft over two storeys. Based on the floor area, its guide price of $8.7 million translates to $3,105 psf. With a similar 99-year leasehold tenure from 2007, there are about 80 years remaining on the lease.
The first floor of the shophouse is leased until March 2028, while the second floor is currently vacant. The renovated second floor features two washrooms and a pantry area, and can be used for office or retail space, subject to obtaining relevant approvals, says Lee.
Situated within the popular Kampong Glam heritage neighbourhood, the three shophouses are close to cafes, restaurants and retail outlets. Other amenities can be found at the nearby Bugis area, including malls such as Bugis Junction and Bugis+, along with the Bugis MRT Interchange for the Downtown and East-West lines.
Second storey of the shophouse at Dickson Road, that has recently been refurbished (Photo: OrangeTee & Tie)
The fourth shophouse up for sale is located on Dickson Road in the Jalan Besar conservation area. The two-storey shophouse has a mezzanine level and an internal courtyard, with a total built-up area of 3,568 sq ft. The 999-year leasehold asset spans a land area of 1,417 sq ft and has an asking price of $10.8 million, or $3,027 psf, based on the built-up area. The property has F&B approval for all three levels.
Lee says the recently renovated Dickson Road shophouse features updated interiors with unique design elements such as bespoke timber detailing, patterned heritage panels, a glass skylight and generous ceiling volumes.
Third floor of the Dickson Road shophouse in the Jalan Besar area (Photo: OrangeTee & Tie)
He believes the property will benefit from upcoming developments in the surrounding area, as part of the broader revitalisation efforts in the Rochor district. Among these, the River Peaks Build-To-Order project on nearby Kelantan Road is expected to add nearly 1,000 new homes to the area, which will enhance pedestrian traffic and support leasing demand, he adds.
Lee notes that shophouses in the Kampong Glam and Jalan Besar areas continue to attract investor interest, given the scarcity of such conservation units. “Investors are increasingly drawn to these properties not only for their rental income potential but also for their long-term capital preservation.”
The EOI exercise for all four properties will close on April 30.
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