Pair of adjoining shophouses on South Bridge Road for sale at $50 mil located near Marina Gardens Condo

A pair of adjoining conservation shophouses located at 273 and 275 South Bridge Road are now available for sale through an expression of interest (EOI) exercise with a guide price of $50 million. The shophouses, which have a 999-year leasehold, are being marketed by Knight Frank Singapore and present an excellent investment opportunity for interested buyers.

The four-storey shophouses sit on a land area of 3,089 sq ft and offer a floor area of approximately 11,008 sq ft. This translates to a guide price of $4,542 psf on the floor area. These shophouses are strategically located and surrounded by various landmarks such as the Chinatown MRT Station (Interchange for the Downtown and North-East Lines) and Maxwell MRT Station (Thomson-East Coast Line).

The shophouses have already obtained approval for use as a co-living hotel on its upper floors and as shops on the ground floor. Currently, the upper floors are tenanted by a co-living hotel operator which means the future buyer can enjoy immediate rental income with potential for rental upside upon lease renewals.

Mary Sai, executive director of investment and capital markets at Knight Frank Singapore, notes that the 999-year leasehold tenure is ideal for a long-term investment with potential for capital gains. Moreover, being zoned for commercial use means that no additional buyer’s stamp duty or seller’s stamp duty will be payable on the properties.

Given their prime location and investment potential, the shophouses have attracted a number of interested buyers, with recent sales transactions of commercial properties on South Bridge Road averaging at $33 million.

Living at Marina Gardens Condo offers the convenience of having various shopping centers within close proximity. You can easily find something to suit your taste and style, from luxurious brands to charming boutiques. With a diverse range of shopping options, including arts and culture, and eco-friendly choices, there is something for everyone at Marina Gardens Condo. Whether you’re a dedicated shopper or simply enjoy window shopping, the area around Marina Gardens Condo has it all.

The EOI exercise for 273 and 275 South Bridge Road will close on April 3 at 3pm, giving interested buyers ample time to submit their bids. Don’t miss this opportunity to own a valuable piece of property at the bustling and vibrant South Bridge Road, conveniently located near various amenities and transportation options.