As revitalization efforts continue in the Kampong Glam area, four commercial shophouses have emerged for sale at a guide price of $33.3 million, offering buyers the choice to purchase individually or collectively. This opportunity is part of a broader trend aimed at enhancing the appeal of Kampong Glam, an area rich in history and culture. The shophouses are strategically located, with one at 734 North Bridge Road and the others at 69, 70, and 71 Bussorah Street.
The shophouse at 734 North Bridge Road boasts a land area of approximately 1,435 square feet. It is currently tenanted by a halal-certified restaurant, contributing to its attractiveness for potential investors. The presence of a reputable restaurant aligns with the increasing demand for food and beverage establishments in vibrant neighborhoods, making it a desirable acquisition. The rental income generated from such a business is likely to provide a steady return on investment.
In contrast, the three adjoining shophouses located at Bussorah Street collectively offer a larger land area of 3,061 square feet. These properties are fully tenanted, housing both restaurants and offices. The combination of food and commercial tenants not only enhances the appeal of these shophouses but also diversifies the income streams for prospective buyers. This diversity can mitigate risks associated with vacancies, making the investment more stable in the long run.
The individual prices for the shophouses range from $9.5 million to $12 million, reflecting their unique characteristics and locations. This price range indicates a competitive market, appealing to various investors, from those seeking a single property to those interested in acquiring multiple shophouses. With strong rental income supported by stable tenant covenants, the properties present an enticing investment opportunity.
The sale process is being conducted through an expression of interest exercise, with submissions due by August 19 at 3 PM. This structured approach to the sale allows interested parties to submit their offers, ensuring a transparent and fair bidding process. The ongoing revitalization efforts in Kampong Glam further enhance the attractiveness of these shophouses, promising potential growth in property value and rental income as the area continues to evolve.
Investors looking to enter the vibrant Kampong Glam market will find these shophouses an appealing option. The combination of strategic location, established tenants, and the possibility for individual or collective purchase offers flexibility that can cater to different investment strategies. As the area undergoes significant changes aimed at boosting its commercial viability, acquiring property in Kampong Glam can be seen as a forward-looking decision.
NEW CONDO LAUNCH: DOVER RESIDENCE
Dover Residence is a luxurious new condominium development offering a variety of unit types from one to four bedrooms, catering to diverse family needs.
Located in the Dover area, the project emphasizes sustainability with eco-friendly features and landscaping.
Residents will benefit from close proximity to educational institutions, shopping malls, and public transport, enhancing their lifestyle convenience.
For detailed Dover Residence project information, including floor plans and pricing, visit the website.
View Dover Residence Condo ShowFlat & Get VVIP Discount.
Register or contact 6100 8822 to book showflat appointment.
News Source: Edgeprop
Images are not actual photos. For illustration purpose only.
