Three adjoining freehold shophouses on North Bridge Road up for sale from $30 mil
Their approved F&B uses and potential repositioning, alongside up to 4,000 planned Kampong Bugis homes, could support future footfall and rental demand.
Three adjoining freehold conservation shophouses at 742, 744 and 746 North Bridge Road are offered from $30 million, equivalent to $4,000 psf.
Body
A trio of adjoining freehold conservation houses at 742, 744 and 746 North Bridge Road are up for sale through an expression of interest (EOI) exercise. The properties have a combined price starting from $30 million, or $4,000 psf on their total built-up area of about 7,500 sq ft.
The shophouses occupy commercial land totalling 3,734 sq ft, with a street frontage spanning 34 metres.
The ground floor of the shophouse at 742 North Bridge Road, which is a corner property, is approved for restaurant use, while the ground floors of the other two shophouses are approved for F&B takeaway. The properties' upper floors are leased to residential occupants, according to exclusive marketing agent Steward Asia (a team under PropNex).
Read also: Townshend Road shophouse cluster up for sale at $60 mil
Located in the historic Kampong Glam area, the properties are close to Haji Lane and Arab Street. They are also within walking distance of Bugis MRT Interchange (East-West and Downtown lines).
Buyers could explore repositioning the shophouses as a boutique hotel, serviced apartments, or a premium hostel, subject to approval from authorities. “Amalgamated ownership across three land parcels provides efficient layout configurations, and versatile options for long-term asset repositioning,” added Alvin Tan, team lead at Steward Asia.
Meanwhile, URA’s plans for up to 4,000 new private homes in the nearby Kampong Bugis precinct will bring “a new wave of affluent homeowners to Kampong Glam’s doorstep,” said Loyalle Chin, co-founder of Steward Asia. "For these shophouses, that means a larger resident catchment, stronger footfall and resilient rental demand.”
In April, a Government Land Sale site at Kallang Close was awarded to a Frasers Property and Mitsubishi Estate joint venture at $1,415 psf per plot ratio. The site, which can yield around 470 homes, was the first GLS site launched in the Kampong Bugis-Boon Keng-Kallang Bahru precinct in 12 years.
The EOI will close at 3pm on Oct 30.