The Business Times
business-time-50
SUBSCRIBERS

China, Singapore private wealth continues to support shophouse demand

Recent deals include 11 New Bridge Road (S$23.8m), and 37 Boat Quay (S$30m); OCBC sells Serangoon Garden shophouse pair for S$17.5m

google-preferred-sourceAdd BT as a preferred source
Kalpana Rashiwala

Kalpana Rashiwala

Published Wed, Jun 14, 2023 · 05:50 AM
    • The star attraction at 11 New Bridge Road is the Song Fa Bak Kut Teh outlet which occupies the ground floor.
    • Based on a floor area of 3,700 sq ft, the price for 37 Boat Quay works out to around S$8,000 psf, a record for a conservation shophouse in Districts 1 and 2.
    • OCBC has sold a pair of two-storey corner shophouses at 86 and 88 Serangoon Garden Way for S$17.49 million
    • The star attraction at 11 New Bridge Road is the Song Fa Bak Kut Teh outlet which occupies the ground floor. PHOTO: BT FILE
    • Based on a floor area of 3,700 sq ft, the price for 37 Boat Quay works out to around S$8,000 psf, a record for a conservation shophouse in Districts 1 and 2. PHOTO: BT FILE
    • OCBC has sold a pair of two-storey corner shophouses at 86 and 88 Serangoon Garden Way for S$17.49 million PHOTO: SAVILLS

    THE going may be slow for some segments of the commercial property market that typically rely on institutional investors, in the face of high interest rates.

    However, the shophouse market continues to draw buyers in the private wealth segment, be they local or overseas.

    A four-storey corner conservation shophouse at 11 New Bridge Road – where the popular Song Fa Bak Kut Teh outlet occupies the entire ground floor – is being sold for S$23.8 million.

    Commercial & IndustrialshophousesSingapore property

    TRENDING NOW

    US President Donald Trump with President Xi Jinping after a visit to Zhongnanhai Garden in Beijing, on May 15.

    Xi Jinping has just rewritten the rules of US-China rivalry

    Set up by Nichol Ng and her brother, FoodXervices traces its roots to 1934 with the business their grandfather started.

    ‘Whole deck of cards just toppled’: FoodXervices’ Nichol Ng on how a 92-year-old family business unravelled – and what’s next

    Toyota may be the world's biggest car company by volume, but it has hardly set the world of EVs alight, mainly because it has continued to bet heavily on hybrids such as the Vellfire Hybrid.

    In the EV race, Japan’s most dangerous rival could be closer to home than China

    Indonesia's Finance Minister Purbaya Yudhi Sadewa says figures in the reported export data are roughly 50% lower than the actual numbers.

    Wilmar, Musim Mas among palm-oil firms in Indonesia under probe for suspected export under-invoicing

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More