A unique opportunity to purchase a freehold, historic pair of conservation shophouses awaits in Kampong Bahru Road, with a guide price of $18.8 million, according to an expression of interest (EOI). Situated between three rapidly rejuvenating districts, including the CBD and the future Greater Southern Waterfront, the adjoining shophouses provide multiple angles for value enhancement.

The two properties at 69 and 71 Kampong Bahru Road occupy a combined land area of 2,343 sq ft and have a total floor area of approximately 5,947 sq ft. Under URA’s 2019 Master Plan, they are zoned for “commercial” use under the Blair Plain Conservation Area. The guide price works out to $3,161 psf based on the total floor area.

Clemence Lee, executive director of capital markets, Singapore at CBRE, which is the marketing agent for the properties, explained that the ground-floor units are already rented out to a restaurant and convenience store. The upper floors, zoned for “office” use, are presently vacant.

The shophouses could potentially be converted to other uses with approval from relevant authorities, such as a commercial school, medical clinic or a fitness centre. Situated only six minutes away from Outram Park MRT Station, CBRE believes ongoing enhancement works and developments in the areas will contribute to long-term capital appreciation.

The EOI exercise for the properties closes on May 24 at 3pm. Investors should take note of the rare opportunity to purchase a freehold, connected units on the upper-floors, with main road frontage shophouses.

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A rare opportunity to purchase a freehold pair of historic conservation shophouses is available through an expression of interest (EOI) at a guide price of $18.8 million. Situated at 69 and 71 Kampong Bahru Road and occupying a combined land area of 2,343 sq ft, the adjoining shophouses have a total floor area of approximately 5,947 sq ft.

According to CBRE, which is the marketing agent for the properties, the ground-floor units of the shophouses are already tenanted by a restaurant and convenience store, affording the future buyer immediate rental income. The upper floors of the shophouses are zoned for “office” use and are presently vacant.

The shophouses are situated between three rapidly rejuvenating districts – SGH Campus, the CBD and the future Greater Southern Waterfront. URA’s Master Plan of 2019 has zoned them for “commercial” use under the Blair Plain Conservation Area. The guide price works out to $3,161 psf.

Every buyer should take note of the myriad of benefits of this unique opportunity, including its freehold tenure, connected units on the upper floors, main road frontage and multiple angles for value enhancement. Subject to approval from the relevant authorities, the shophouses could potentially be converted to other uses such as accommodation and lodgings, a commercial school, medical clinic or a fitness centre.

Situated only six minutes away from Outram Park MRT Station, ongoing enhancements works and new developments in the areas are expected to further benefit the potential rental and capital appreciation in the future.

The EOI exercise for the shophouses closes on May 24 at 3pm.

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