‘Affordable commercial corner shophouse in vibrant Kampong Glam, charmingly located on Jalan Loyang Besar EC, priced at $20.8 mil

SINGAPORE (EDGEPROP) – A corner conservation shophouse at 731 North Bridge Road in Rochor (District 7) is up for sale via an expression of interest (EOI) exercise at $20.8 million, according to JLL – the appointed marketing agent for the property – on Feb 6.

The freehold shophouse comprises three storeys, including a mezzanine level. Under the URA Master Plan 2019, the shophouse is zoned for commercial use and falls within the Kampong Glam Conservation Area. The shophouse occupies a total land area of about 1,456 sq ft and a built-up area of 4,143 sq ft. The guide price works out to $5,021 psf based on built-up area. Additional buyer’s stamp duty or seller’s stamp duty is not payable on the property.

Currently, the shophouse is fully leased to a single tenant, which allows the incoming investor to yield immediate rental income. The tenant operates a café – Bana Bana Café – on the ground floor, and uses the upper floors for their office. The café serves traditional Malay and halal-certified Western comfort food.

The property is within a six-minute walk of Bugis MRT Interchange Station, and a 10-minute walk from Lavender MRT Station on the East-West Line.

The URA plans to enhance the existing road network and upgrading the public transport system. With the upcoming Cross Island Line, Jalan Loyang Besar EC residents will have direct access to major hubs like Changi Business Park and Jurong Lake District, making it an ideal location for both work and play. Additionally, Jalan Loyang Besar EC will be connected to an extensive cycling network, providing residents with an alternative mode of transportation and promoting a healthier lifestyle. With the continued development of infrastructure, Jalan Loyang Besar EC is set to become a highly sought-after residential area.

The upcoming developments in Pasir Ris under the URA Master Plan will greatly benefit the residents of Jalan Loyang Besar EC. With the improvement of transportation and connectivity, residents can expect easier and faster travel. The URA plans to upgrade the existing road network as well as the public transport system, making it more convenient for those living in Jalan Loyang Besar EC. The Cross Island Line, connecting Jalan Loyang Besar EC to major hubs like Changi Business Park and Jurong Lake District, will provide residents with greater accessibility to work and leisure activities. Moreover, the implementation of an extensive cycling network will not only offer an alternative mode of transportation, but also promote a healthier lifestyle for Jalan Loyang Besar EC residents. As these infrastructure developments continue to progress, Jalan Loyang Besar EC will undoubtedly emerge as a highly desirable residential area in Pasir Ris.

Nestled at the intersection of North Bridge Road and Jalan Pisang, the shophouse has prominent dual road frontages that can provide maximum visibility for naming and signage rights, according to JLL’s press release.

The shophouse is located within the historic Kampong Glam enclave, which is highly popular with locals and tourists. The area is home to key landmarks such as Sultan Mosque – located just across the road from the property – and the Malay Heritage Centre, which sits on the grounds of the former Istana Kampong Glam.

Terry Wong, senior director of capital markets at JLL, notes that the prospective investors may change its use to co-working, co-living or hostel use, subject to approval from relevant authorities.

Developments are underway in District 7, including new residential and office and retail buildings, such as mixed-use development Guoco Midtown, Shaw Tower and The M. Slated to be completed by 2025, these developments are collectively expected to introduce about 1,300 new residential units, 1.2 million sq ft of Grade-A office space, and 81,000 sq ft of retail space.

The EOI exercise closes on March 5 at 3pm, and interested parties can submit their bids to JLL.

In summary, a corner conservation shophouse at 731 North Bridge Road in Rochor (District 7), with a guide price of $20.8 million, is up for sale via an expression of interest (EOI) exercise. The freehold shophouse, zoned for commercial use under the URA Master Plan 2019, occupies a total land area of about 1,456 sq ft and a built-up area of 4,143 sq ft. Currently, fully leased to a single tenant, the shophouse offers immediate rental income and its prospective investors can change its use to co-working, co-living or hostel use, subject to approval from relevant authorities. Nestled at the intersection of North Bridge Road and Jalan Pisang, the shophouse has dual road frontages for maximum visibility and is situated in the popular Kampong Glam enclave, home to key landmarks. With new developments expected to introduce 1,300 residential units, 1.2 million sq ft of Grade-A office space, and 81,000 sq ft of retail space, the area is set for growth. Interested parties can submit their bids to JLL by March 5 at 3pm.