Three Adjacent Conservation Shophouses in Kampong Glam on the Market for $7.64 mil

One-North Eden investment

Three adjoining conservation shophouses at Kampong Glam are available for sale at $7.64 million, or $3,000 psf, according to CBRE, which will be advertising the properties.

One-North Eden investment occupies an area of 5, 778.7 sqm and enjoys a maximum Gross Floor Area (GFA) of 14,447 sq m. It is situated at 7 One-North Gateway district 5 of Singapore. It has a potential of housing around 165 units.

The 3 possessions, in 14, 16 and 18 Baghdad Street, have a total gross floor space of 2,548 sq feet and occupy a combined land area of 1,605 sq feet, and also have a tenure equilibrium of 74 decades. The properties are stored under a single property title, and should be sold as an aide.

The shophouses like a broad road frontage on Baghdad Street. Beneath URA’s 2019 Master Plan, it’s zoned for industrial use and is situated inside the Kampong Glam Conservation Area. The possessions are a six-minute walk from Bugis MRT interchange Station on the East-West and Downtown Lines.

“The successful purchaser may enjoy instant rental income since the shophouses are fully tenanted by F&B and takeaway food institutions, health and convenience shops. The subject land also gifts flexibility to owner-occupiers should they desire to configure the area and maximise usage which are potentially perfect for stores, F&B offers and gym/fitness centers, subject to government’ acceptance,” remarks Clemence Lee, senior manager of capital markets at CBRE.

Since the site is zoned for industrial use, no extra purchaser’s stamp duty or vendor’s stamp duty will be related to the purchase price of their house.