A 4-storey shophouse at New Bridge Road, in district 1 Singapore has been put up for sale with an asking price of S$17 million.
The attractive 99-year leasehold property has a land size of 1,452 square feet with a built-up area of 5,324 sq ft.
The lease tenure is recently top up to 99 years from 2016, making it even more attractive for investors as this shophouse with good passive income will be investors’ prized asset with good secure cash flow.
According to Master Plan of 2019, the site is zone for commercial. Being in the full commercial zone, investors need not pay any Additional Buyer’s stamp duty (ABSD) or Seller’s stamp duty (SSD).
The shophouse is fully leased to 4 different tenants and “Song Fa” being a major tenant, occupy at the first storey.
They started their first flagship store 12 years ago and they have expanded into 10 branches in Singapore.
Its business grows phenomenally year by year and 11 New Bridge Road branch is most conspicuous with long queues every day.
The attractive property is directly opposite Clarke Quay MRT which is short walk away as well as Raffles Place MRT.
This ensures rentability for its offices on the second, third and fourth level.
Being a corner unit, its side frontage is long giving it even more visibility to office crowds around the area.
Its strategic location facing the New Bridge Road is catching every motorist who drive pass this area.
Office crowds who work at The Central at Clarke Quay can walk to this place easily for lunch via a link bridge.
There are also many office crowds from the Riverwalk, Hong Kong Street, Upper Circular Road and Carpenter Street.
Not forgetting the tourists who are staying in this area like Bencoolen Hotel, Jayleen Clarke Quay Hotel, Hotel Conforto, Hotel Clover, Fragrance Hotel, City Backpackers, Vintage Inn, Champion Hotel, The Quay Hotel, Swissotel Merchant Court etc.
The recent new CBD incentive Master plan in 2019 makes shophouses even more precious as eventually more office buildings will be replaced and shophouses F&B and office rentals are poised to increase in the long run.
Singapore office rentals is also on the uptrend for the past consecutive quarters.
There is also no GST on this particular asset as it is individually owned.
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