New hot freehold shophouses have recently been launched for sale for interested buyers via expression of interest.
Five commercial properties located at Kampong Glam have been listed according to CBRE, the marketing agent overseeing the sale.
The indicative price for all the five properties has been listed at S$23.8 million. This means that the cost of each property comes to about $2,970 psf
All the properties listed for sale are earmarked as commercial entities by the Draft Master Plan of 2019.
This means that buyers or sellers would not need to pay seller’s stamp duty and additional buyer’s stamp duty. The opportunity to buy all these properties is open for foreign as well as local buyers.
All the five properties have their individual holding titles which are currently held by a sole owner.
The five individual shops are namely land holding numbers 17, 19, 21, 23 and 25 in Baghdad Street.
The combined property has three-way road accessibility from a one side lane, Bussorah Street and from Baghdad Street.
The total land area of the shophouses is approximately 4,892 sq. ft. while the total floor area is 8,013 square feet. Each of the shophouses occupies a land area between 1,375 square feet and 2,416 square feet.
According to the statement released by CBRE, the shophouses are ready for tenancy and also have the necessary F&B (food and beverages) approvals.
The strategic location of the property is likely to attract investors looking for long-term and as well medium-term investment opportunities in the area, said the associate director of CBRE, Yap Hui Yee.
Hui Yee said that if investors are looking for benefits from capital appreciation and increased rentals then these shophouses are perfect.
Moreover, investors can also expect immediate income through rentals. She added that the investors can keep some units of the five land titles while selling the rest in the near future. They can also keep all holdings as per their wish.
The associate director of CBRE said that since Kampong Glam conservation area is part of the Ophir-Rochor Corridor which has off-late become a hotspot for living, working and playing, buyers would be interested in the properties.
Since the boutique building comes with naming rights, Ms. Yap is expecting owners and occupiers to be interest in the property.
These shophouses can be used as backpacker hostels, educational schools, fitness centres, retail and F&B outlets, showrooms etc., she said.
Interested buyers can submit their expression of interest till 3:00 PM of July 16.