Three adjoining conservation shophouses in Kampong Glam on the market for $7.64 mil

By
/ EdgeProp Singapore
|
September 30, 2020 6:16 PM SGT
SINGAPORE (EDGEPROP) - Three adjoining conservation shophouses in Kampong Glam are up for sale at $7.64 million, or $3,000 psf, according to CBRE, which is marketing the properties.
14, 16 and 18 Baghdad Street - EDGEPROP SINGAPORE
14, 16 and 18 Baghdad Street (Credit: CBRE)
The three properties, at 14, 16 and 18 Baghdad Street, have a total gross floor area of 2,548 sq ft, occupy a combined land area of 1,605 sq ft, and have a tenure balance of 74 years. The properties are held under an individual land title, and are to be sold as an entirety.
The shophouses enjoy a wide road frontage onto Baghdad Street. Under URA’s 2019 Master Plan, it is zoned for commercial use and is located within the Kampong Glam Conservation Area. The properties are a six-minute walk from Bugis MRT interchange Station on the East-West and Downtown Lines.
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“The successful buyer can enjoy immediate rental income as the shophouses are currently fully tenanted by F&B and takeaway food establishments, wellness and convenience stores. The subject property also presents flexibility to owner-occupiers if they wish to configure the space and maximise usage that are potentially ideal for shops, F&B offerings and gym/fitness centres, subject to authorities’ approval,” comments Clemence Lee, senior director of capital markets at CBRE.
As the site is zoned for commercial use, no additional buyer’s stamp duty or seller’s stamp duty will be applicable to the sale of the property.
The expression of interest exercise will close on Nov 6.
For price trends, recent transactions, other project info, check out these projects' research page: Kampong Glam Conservation Area, Baghdad Street
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