Four Kampong Glam shophouses for sale at $33.3 mil
The property at 734 North Bridge Road (centre) (Picture: Knight Frank Singapore)
A portfolio of four commercial shophouses located in Kampong Glam is up for sale with a guide price of $33.3 million. Comprising one shophouse at 734 North Bridge Road and three at 69, 70 and 71 Bussorah Street, the properties can be purchased individually or collectively, says marketing agent Knight Frank Singapore.
The North Bridge Road shophouse occupies a land area of about 1,435 sq ft. The two-storey conservation property has an estimated built-up area of 3,418 sq ft, with permanent approval for restaurant use on the ground floor. The shophouse is currently tenanted by a halal-certified Indonesian-Japanese fusion ramen restaurant on the ground floor, while the upper floors are leased to two office tenants.
The properties at 69, 70 and 71 Bussorah Street are adjoining two-storey conservation shophouses situated along a pedestrian thoroughfare leading to Sultan Mosque. Sitting on a combined land area of 3,061 sq ft, they have a collective built-up area spanning 5,667 sq ft. The shophouses are fully tenanted with restaurants on the ground floor and offices on the second floor.
The shophouses at 69, 70 and 71 Bussorah Street (Picture: Knight Frank Singapore)
Individually, the shophouses are priced between $9.5 million and $12 million, says Tania Ong, senior manager at Knight Frank Singapore. “With strong tenant covenants and immediate rental income, the properties present a compelling investment opportunity,” she adds.
Ong expects the shophouses to benefit from the ongoing rejuvenation happening in the Kampong Glam area. In 2023, a five-year blueprint aimed at enhancing the historic precinct was unveiled by URA and the Kampong Gelam Alliance, a group of stakeholders comprising residents, cultural institutions and businesses in the area. Initiatives include improving connectivity and accessibility through more wayfinding and directional signage, introducing cycling lanes and bike parking areas, and placemaking projects such as urban installations and community gardens.
The shophouses are up for sale through an expression of interest exercise that closes on Aug 19 at 3pm.
Follow Us
Property updates, 24/7.
Subscribe to Newsletter
Market insights, delivered weekly.
Top Articles
Search