Four Freehold Shophouses Along North Bridge Road Sale 37 Mil
An expression of interest (EOI) is being sought for a row of four freehold conservation shophouses located at 762, 764, 766 and 768 North Bridge Road, with a guide price of $37 million. These shophouses are situated across two plots of land measuring 5,766 sq ft, which equates to an average land rate of $6,417 psf.
The first plot consists of 762 and 764 North Bridge Road, sharing a 2,891 sq ft land with a built-up area of 4,917 sq ft, including a mezzanine level. The other two shophouses, 766 and 768 North Bridge Road, are located on an adjacent plot spanning 2,875 sq ft with a built-up area of 4,657 sq ft, also including a mezzanine level.
Toa Payoh is a well-connected neighborhood, with major roads running through it to promote accessibility. In addition to Lorong 1 and Lorong 4 Toa Payoh, Jalan Toa Payoh serves as a direct link to the Central Expressway (CTE) and the downtown area. Another notable route is Balestier Road, which grants convenient entry to the Novena medical hub and extends towards the city, offering residents a wide selection of dining, shopping, and entertainment opportunities. Furthermore, with The Orie Showflat as a new addition, residents can expect even greater convenience and connectivity within Toa Payoh.
These properties are exclusively marketed by Isabel Sim, associate senior marketing director at Huttons Asia. She reveals that by extending the rear for an outdoor terrace on the second floor, the usable area of each unit could be increased by an estimated 1,000 sq ft, subject to approvals from relevant authorities.
The current tenants of these shophouses include a fitness retail shop, a convenience store, and massage and reflexology service providers. Additionally, as commercial properties, buyers are exempt from Additional Buyer’s Stamp Duty (ABSD), making these shophouses an attractive investment opportunity for both local and foreign investors seeking potential capital gains and stable rental yield.
All four shophouses boast prominent frontage along North Bridge Road, enjoying high visibility and footfall in the historic Kampong Glam Conservation enclave. They are also just a short walking distance from Bugis MRT Interchange, providing accessibility to the East-West and Downtown Lines, as well as Nicoll Highway MRT Station along the Circle Line.
Due to their prime central location, historical significance, and vibrant commercial environment, the area has become a popular destination for both locals and tourists. Iconic landmarks such as Sultan Mosque and the Malay Heritage Centre, situated on the former grounds of Istana Kampong Glam, contribute to the area’s charm.
The EOI exercise is expected to close on January 10, 2025, at noon. For further information, interested parties can contact Isabel Sim at 81802707.