[ Guide price $20 million or only $7,864 per square foot ]
A two-storey and attic, freehold conservation shophouse in north bridge road has been put up for sale with the guide price of $20 million or $7,846 per square foot.
The shophouse has a freehold tenure, and is zoned as full commercial in the 2019 master plan, with a land site area of 2,549 sq ft and has a built-up area of about 4,800 sq ft. The sale is not subject to additional buyer’s stamp duty and is open to foreigners.
The ground floors have been approved for restaurant use, and are currently leased out to separate restaurant operators.
https://danielfooddiary.com/2020/11/17/asapco/ ( Smoke meat steakhouse)
Chinese Hotpot https://eatbook.sg/xiao-jun-gan/
RESEARCH OF POTENTIAL FUTURE VALUE
Future transformation - North Bridge Road runs through the downtown core and Rochor and Kallang areas in the central region. The road begins at Crawford Street and ends where Elgin Bridge crosses into South Bridge Road. North Bridge falls within the URA Master plan Rochor planning region.
Asset enhancement options - URA SPACE indicates that this pair of shophouse is possible for a change of use to backpackers hostel or hotel usage.
A recent transaction of 17 shophouses currently operating as Hotel Clover in Jalan Sultan for $74.8 million Business-times , was jointly acquired by SLB developments and Weave Living.
North bridge road and Jalan sultan is just one street away.
HOTELS IN NORTH-BRIDGE REGION
JJH Hotel @ 747/745 North Bridge Road ( Recent converted to a 25 rooms hotel)
Aliwal Park hotel
Room rate - $145 for a standard double room
Hotel Clover @ 769 North Bridge Road
Room rate - $200 per night for a superior double room
LATEST TRANSACTIONS FOR COMPARISON
- 664 north bridge road, approved for shop usage sold for $6296 psf
- 17 Jalan klapa, approved as restaurant sold for $8,123psf
- 534 North bridge road, approved as restaurant sold for $11,357 psf ( Bugis junction)
- 11 bali lane approved restaurant for $13,821 psf (record price)
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