The adjoining shophouses with attic are located at 69 and 71 Kampong Bahru Road.
SINGAPORE - A pair of freehold conservation shophouses are on sale through an expression of interest at a guide price of $18.8 million. The adjoining shophouses with attic are located at 69 and 71The shophouses occupy a combined land area of 2,343 sq ft and have a floor area of approximately 5,947 sq ft. Under URA’s Master Plan of 2019, they are zoned for “commercial” use under the Blair Plain Conservation Area. Based on the total floor area, the guide price works out to $3,161 psf.
According to marketing agent CBRE, the ground-floor units of the shophouses are fully tenanted by a restaurant and convenience store operator, thus affording the future buyer immediate rental income. The upper floors of the are zoned for “office” use and are presently vacant.
CBRE notes that subject to approval from 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. The shophouses are a six-minute walk away from Outram Park MRT Station. CBRE also highlights it is situated between three rapidly rejuvenating districts - SGH Campus, the CBD and the future Greater Southern Waterfront. Lee believes ongoing enhancements works and new developments in the areas will further benefit the properties’ rental and capital appreciation over the long-term.