Commercial shophouse on New Bridge Road up for sale, valued at $22 mil

The 99-year leasehold home sits on a 1,443 sq ft story that is zoned business with a gross plot ratio of 4.2 under the most up to date Master Plan. The land tenure was renewed to a fresh 99-year lease in December 2021.

Read likewise: 2 1/2 floor freehold conservation shophouse in Lavender up for sale at $7.5 mil
While there is no a measure cost or guide cost offered, Sakal claims that the home was just recently valued at regarding $22 million, on the basis of a refurbished shophouse with an enlarged flooring area of 6,063 sq ft.

The four-storey shophouse, with a roof covering balcony, is presently going through a repair which is slated to be finished in 1Q2023. According to Sakal, the shophouse will be sold on an as-is basis, if the new proprietor chooses to undertake the repair on their own.

Senja Residences Register Interest

An industrial shophouse at 21 New Bridge Road has been put up for sale as well as the four-storey industrial shophouse will be sold in a personal treaty sale, according to a news release by the marketing agent Sakal Realty Allies on Aug 15.

The uninhabited shophouse will certainly have a gross floor area of 5,034 sq ft, leaving out the roof covering balcony, at the end of the repair functions. Given that the residential property lies within a second conservation area, the brand-new owner has the option to make an application for authorization to add a back extension which would bring the total gross floor location as much as 6,063 sq ft, based on approvals, says Sakal.

The ground-floor business unit of the shophouse is approved for dining establishment use, while the upper floorings appropriate for workplace usage, as a store, or food takeaway stall. The procurement is open to foreign and local customers, and the purchase will not bring in extra customer’s stamp obligation or vendor’s stamp obligation.

A photo of shophouse deals in District 1 over the recent 12-month period, showcased on EdgeProp’s analytics tool Market Watch
The preservation shophouse enjoys a famous road degree frontage along New Bridge Road, and also the home has direct protected accessibility to Clarke Quay Central Mall nearby. The shopping center is linked to Clarke Quay MRT Station on the North-East Line.

The property is close to the F&B as well as amusement shops and outlets along Clarke Quay and also Boat Quay. It is also near Raffles Place and also Chinatown.

“The conservation shophouse market has actually outshined in the last few years. Its limited supply as well as heritage allure not simply attracts real estate funds however also household workplaces as well as high-net-worth individuals that liken investing in shophouses to buying art,” claims Steven Ming, taking care of companion at Sakal.
He adds that financial investment need for preservation shophouses is expected to remain durable in the coming months “offered the weight of exclusive wide range that is making allotments right into Singapore property”.