199-year Boat Quay shophouse up for sale for S$27m
Singapore
A 199-YEAR leasehold conservation shophouse located at 31 South Bridge Road and 88 Circular Road in Boat Quay is up for sale via private treaty at S$27 million, exclusive marketing agent ERA Realty said on Friday.
The two-storey asset sits on a land area of about 330 square metres (sq m) and has a built-up area of 622 sq m. It was formerly four units of individual shophouses that have been amalgamated into two titles.
Located in the corner, the property has dual frontages - one which opens to Boat Quay, Circular Road, and another which opens up to the main road on South Bridge Road. The property is fully tenanted, with an Indian fusion dance club, Indian Club Colaba, situated on the ground floor. A corporate media production office takes up the second floor.
The asset's long leasehold of 199 years means ample time for holding and even rental yield play, ERA Realty said.
Alvin Choo, ERA Realty division director of investment sales and affluent markets, said the distinct advantage of being at a corner gives branding rights on the sidewall of the side facing Circular Road.
"Food and beverage owners, entertainment industries and flagship brand owners could take the opportunity to own a double road-facing unit with inner abutting walls already opened up for prominent usage or leasing purposes," he noted.
ERA Realty advisory group division director Zac Huang said the property has garnered healthy interest from ultra-high net worth individuals seeking yield and business owners looking to build a brand at a prime location in the city.
