Freehold shophouse on South Bridge Road for sale at $33.4 mil

The five-storey shophouse (centre) has a total floor area of 6,430 sq ft (Picture: CBRE)
The five-storey shophouse (centre) has a total floor area of 6,430 sq ft (Picture: CBRE)
A freehold shophouse at 42 South Bridge Road has been launched for sale through an expression of interest (EOI) exercise with a guide price of $33.4 million. The five-storey shophouse with an attic has a total floor area of 6,430 sq ft, which works out to about $5,200 psf.
The shophouse sits on a land area of approximately 1,612 sq ft that is zoned for commercial use, with a gross plot ratio of 4.2. It has restaurant approval for the ground floor, fifth floor and the attic.
A bar and café occupy the ground floor, while the fifth floor and attic house an East Asian bistro. The third floor accommodates a private wine club. The remaining floors are used as office space.
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The shophouse is located in the Upper Circular Conservation Area in the CBD. It is a six-minute walk from Clarke Quay Central, which is connected to the Clark Quay MRT Station on the North-East Line. The property is also close to lifestyle amenities in Boat Quay.
Clemence Lee, executive director of capital markets for Singapore at CBRE, expects the shophouse to benefit from URA’s recent lifting of the ban on new hotels, hostels and serviced apartments in the Upper Circular Road and Beach Road areas.
As the regulatory change potentially paves the way for the redevelopment of surrounding buildings for hospitality and residential uses, visitor and resident density in the vicinity should increase.
“Over time, the anticipated uplift in activity and spending should support rental growth and drive higher capital values for well-located assets such as 42 South Bridge Road,” Lee adds.
The EOI will close on July 28 at 3pm.
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