Shophouses are known to be rare commodities in Singapore. Units up for sale are far and few in between and those which are are closely watched.
6 Kampong Bahru shophouses going for $39.6 million
With a sale price of $39.6 million for 6 shophouse units, that would make an average of $6.6 million a unit.
No. 69 to 79 Kampong Bahru Road are freehold 2-storey shophouses which can be sold individually or collectively.
Their location alone is prime as they are situated near the existing Outram MRT station and the future Cantonment MRT station. Zoned for commercial use, the site has a combined land area of 7,068 sq ft and a total gross floor area (GFA) of 17,600 sq ft. The land rate works out to be approximately $2,250 psf.
A plus point for this site is its availability to foreign buyers and neither additional buyer’s nor seller’s stamp duty will apply.
A prime site near MRT stations and CBD
While the site is not within the Central Business District (CBD) itself, it is but a 10-minute drive away. Also in its vicinity are the new Kampong Bahru Bus Terminal, the Singapore General Hospital Campus and the future Greater Southern Waterfront district will be just 500m away.
This means the area will potentially see a marked increase in the workforce and also the number of residents living in the area. The Greater Southern Waterfront development will see the relocation of the ports along the southern coast and about 1,000 hectares of space will be filled with offices, malls, residential blocks and public spaces.
The location and the flexibility of consolidating the shophouses into a larger establishment are advantages the site offers. With co-living and serviced apartments becoming more popular, the possibilities for the site will be considerable.