SINGAPORE – A block of five adjoining freehold conservation shophouses at Kampong Glam is up available via public tender in a direct price of $23.8 million.
Situated in the prime area of Baghdad Street and Muscat Street, Nos. 17, 19, 21, 23 and 25 Baghdad Street possess five different names. They’ve a whole land area of 4,892 sq feet and a gross floor area of approximately 8,013 sq ft. They’re zoned for industrial use under the 2014 Master Plan. Currently fully tenanted, they’re occupied as F&B sockets on the ground floor and offices or even other dining places on the top floors.
See OLA price Singapore for more details.
There’ll not be any extra purchaser’s postage duty and vendor’s stamp duty payable. Foreigners and businesses are entitled to buy.
Mary Sai, executive manager of capital and investment markets in Knight Frank Singapore, notes that”more frequently than not, trades in the area are of a smaller scale, like one shophouse unit using a land area of approximately 700 sq feet to 1,500 sq feet in the slightest, Bali Lane or even Bussorah Street”. In July this past year, a shophouse in Bussorah Street using a land area of 1,741 sq feet and a equilibrium rental of 83 years has been sold for around $ 5 million.
Sai claims that in the direct price for its five shophouses,”the possibility of capital appreciation is really promising”.