Explore Three Freehold Properties on Sale for $67M
A significant opportunity has emerged in the real estate market with the listing of three freehold properties at a collective price of $67 million. This portfolio includes commercial buildings located on South Bridge Road and a shophouse situated on Frankel Avenue, offering investors unique prospects for acquisition either individually or as a whole.
Property Overview
The properties available include two commercial buildings—74 South Bridge Road priced at $20.5 million and 80/82 South Bridge Road listed for $40 million—alongside a two-storey shophouse at 89/A Frankel Avenue, which has an asking price of $6.5 million. Each property is distinctive in its uses and potential, catering to various buyer interests.
Details of the Commercial Buildings
The larger of the two commercial assets, located at 80/82 South Bridge Road, is known as the Golden Castle Building. This six-storey structure sits on a plot measuring 3,127 square feet and provides a gross floor area (GFA) of 9,848 square feet. Currently fully leased, this building presents opportunities for future redevelopment due to its zoning under the latest Master Plan.
Its guide price translates to approximately $4,062 per square foot based on GFA. Notably, it has been granted Food & Beverage approvals across multiple floors, adding to its attractiveness as an investment.
The adjacent building at 74 South Bridge Road is similarly structured but smaller, occupying a land area of 1,093 square feet with a GFA of 5,791 square feet. Priced at $20.5 million or around $3,540 per square foot based on GFA, this property also benefits from high tenant occupancy.
Shifting Market Dynamics
Recent changes in regulations surrounding short-term accommodations have opened up possibilities for converting these commercial buildings into boutique hotels—a move that could significantly enhance their value. Buyers looking into these options must be mindful that formal approvals will be necessary before proceeding with such transformations.
Insights on the Shophouse
The third asset in this portfolio is positioned along Frankel Avenue—an attractive locale in District 15 renowned for its residential charm paired with commercial viability. The shophouse spans a total built-up area of approximately 3,441 square feet across its two stories. The ground floor currently operates as a restaurant while the second floor is designated for residential use.
This property’s pricing reflects its dual-use capability; however, buyers should note that purchasing the residential component incurs Additional Buyer’s Stamp Duty (ABSD). Currently tenanted by established businesses such as Bee Chun Heng and others providing local dining experiences adds to its appeal within the neighborhood.
Investment Potential
This collection represents an intriguing prospect not just because of their prime locations but also due to their diverse characteristics appealing to various investor profiles—including family offices seeking long-term growth strategies and high-net-worth individuals aiming for strategic additions to their portfolios.
Learn more about our real estate insights here. Investment analysts suggest that while there may be interest in acquiring all three properties together, they are likely to attract individual buyers given their unique pricing structures and appeal factors.
Conclusion
The Expression of Interest (EOI) exercise managed by CBRE closes on October 21st. As the market continues evolving post-regulatory adjustments favoring new hospitality ventures in urban areas like this one between Chinatown and Central Business Districts—investors are urged to evaluate how these dynamics can influence their decisions moving forward.
Source: Original Article
