In the heart of Kampong Glam, four commercial shophouses have been listed for sale, attracting interest with a guide price of $33.3 million. This offering includes one property located at 734 North Bridge Road and three adjoining shophouses situated at 69, 70, and 71 Bussorah Street. The properties, known for their prime locations and diverse tenant mix, present a compelling investment opportunity amid the ongoing rejuvenation of the Kampong Glam area.
The shophouse at 734 North Bridge Road boasts a land area of approximately 1,435 square feet. It is currently occupied by a halal-certified Indonesian-Japanese fusion ramen restaurant, which has successfully secured ground floor approval for restaurant use. This establishment contributes to the vibrant food scene in the area, making the shophouse an attractive proposition for potential investors seeking to capitalize on the growing culinary market in Kampong Glam. The existing tenant arrangement ensures immediate rental income, providing a solid foundation for any prospective owner.
In addition to the North Bridge Road property, the three adjoining shophouses on Bussorah Street offer a combined land area of 3,061 square feet, with a total built-up area of 5,667 square feet. These shophouses are fully tenanted, featuring restaurants on the ground floor and offices above. The mix of commercial and office spaces enhances the appeal of these properties, as they cater to a diverse clientele and benefit from the area’s foot traffic and popularity as a dining and cultural hub.
The presence of established tenants not only guarantees rental income but also reflects the strong demand for commercial spaces in Kampong Glam. The individual pricing for the shophouses ranges from $9.5 million to $12 million, making them competitive options for investors looking to enter the commercial property market. Each shophouse’s unique characteristics and location contribute to their valuation, with potential buyers encouraged to assess the properties based on their investment strategies.
The expression of interest exercise for these properties will close on August 19 at 3 PM, inviting prospective investors to submit their bids for consideration. Kampong Glam’s ongoing revitalization plans further enhance the appeal of these shophouses. As the area sees increased interest from both local and foreign investors, the potential for capital appreciation becomes more pronounced.
The combination of historical significance, cultural vibrancy, and modern development initiatives makes Kampong Glam a desirable location for commercial investments.
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News Source: Edgeprop
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