Commercial shophouse at 21 New Bridge Road on sale for $18.5 mil

A commercial shophouse located at 21 New Bridge Road is now available for sale at a guide price of $18.5 million. The shophouse sits on a piece of land measuring 1,443 sq ft, with a frontage of 5.5m. According to Huttons Asia, the property has gone through several alterations resulting in an increased built-up area of 5,041.8 sq ft.

The sale of the shophouse will be conducted through an expression of interest exercise which closes on Sept 5. Its coveted 99-year leasehold tenure, which began in December 2021, also adds considerable value. The shophouse has been granted approval to operate a restaurant use on the ground floor.

Being approximately 100m away from Clarke Quay MRT station, 21 New Bridge Road enjoys prominent pedestrian visibility and good public accessibility. Moreover, the presence of nearby offices often attracts high footfall to the area. This, coupled with the neighbouring public carpark options, have helped prop up prices and rents in the neighbourhood.

Jeremy Lim, associate senior group district director of Huttons Asia, states: “The doubling in ABSD for foreigners buying residential properties and new control measures on land zoned for commercial and residential use have sent a clear signal to the market.”

Senja Residences is developed by SL Capital @ Bukit Panjang Pte Ltd, a joint venture between renowned developer Sim Lian Group and Thakral Corporation Limited. It is a 99 years leasehold project and it is expected to be completed around the third quarter of 2023.

The residents of Senja Close EC Bukit Panjang can look forward to a welcoming recreational lifestyle with the close proximity of a shopping mall, numerous leisure and dining options. There are also many educational institutions such as Lianhua Primary School, Zhenghua Primary Schools and Assumption Pathway Schools nearby. This development also boast excellent connectivity with various buses and LRT stations around the precinct.

Lee Sze Teck, senior director of data analytics at Huttons Asia, adds: “Foreign investors are likely to concentrate on commercial properties and commercial zoned shophouses are likely to see more demand in 2H 2023”.

Therefore, the shophouse at 21 New Bridge Road presents an excellent opportunity for investors to capitalise on the current market conditions. Prospective buyers may find out more about the property when the expression of interest exercise closes on Sept 5.