reporter2
16-01-13, 12:54
http://www.businesstimes.com.sg/premium/singapore/4-north-bridge-rd-shophouses-be-auctioned-20130116
Published January 16, 2013
4 North Bridge Rd shophouses to be auctioned
By zeinab yusuf saiwalla
FOUR freehold shophouses along North Bridge Road have been launched for sale by public auction.
The shophouses, bounded by Kandahar Street and Aliwal Street and within the Kampong Glam conservation area, will be sold together; they have been tagged with an indicative asking price of $15.5 million.
Marketing agent DTZ said that the units, at 762, 764, 766 and 768 North Bridge Road, will be sold with existing tenancies, which expire between March this year and July next year.
The four units now house an Internet cafe, a wellness centre, a travel agency, an apparel store and a photography studio - five businesses because one of the units is sub-divided.
Shaun Poh, DTZ's head of investment advisory services and auction, said the four units are being sold together because of the sub-division, "so it's quite difficult to break them down".
The shophouses sit on a site of approximately 5,765 square feet (sq ft) and have a total floor area of approximately 9,600 sq ft.
Mr Poh suggested that potential investors may want to check with the authorities on whether further sub-divisions are possible so the plot can be broken into smaller units for future investment purposes.
The shophouses sit amid mostly two-storey conservation commercial shophouses, near mixed-use developments such as Bugis Junction, Bugis Plus, Golden Landmark, Sultan Plaza and Key Point.
The sale of the shophouses will not be affected by Seller's Stamp Duty (SSD), Additional Buyer's Stamp Duty (ABSD) and the loan-quantum restrictions recently announced in the government's slew of measures aimed at cooling the property market, because the shophouses have been zoned as commercial units, said Mr Poh.
"There'll always be a limited stock of shophouses and you cannot create a historical landmark, so this is a great alternative income-producing investment," he added.
The ABSD kicks in only with properties with a residential component; the SSD, which used to apply to residential properties, now also applies to industrial properties.
The site has received interest from three potential Singaporean buyers.
The public auction has been slated for Jan 23.
Published January 16, 2013
4 North Bridge Rd shophouses to be auctioned
By zeinab yusuf saiwalla
FOUR freehold shophouses along North Bridge Road have been launched for sale by public auction.
The shophouses, bounded by Kandahar Street and Aliwal Street and within the Kampong Glam conservation area, will be sold together; they have been tagged with an indicative asking price of $15.5 million.
Marketing agent DTZ said that the units, at 762, 764, 766 and 768 North Bridge Road, will be sold with existing tenancies, which expire between March this year and July next year.
The four units now house an Internet cafe, a wellness centre, a travel agency, an apparel store and a photography studio - five businesses because one of the units is sub-divided.
Shaun Poh, DTZ's head of investment advisory services and auction, said the four units are being sold together because of the sub-division, "so it's quite difficult to break them down".
The shophouses sit on a site of approximately 5,765 square feet (sq ft) and have a total floor area of approximately 9,600 sq ft.
Mr Poh suggested that potential investors may want to check with the authorities on whether further sub-divisions are possible so the plot can be broken into smaller units for future investment purposes.
The shophouses sit amid mostly two-storey conservation commercial shophouses, near mixed-use developments such as Bugis Junction, Bugis Plus, Golden Landmark, Sultan Plaza and Key Point.
The sale of the shophouses will not be affected by Seller's Stamp Duty (SSD), Additional Buyer's Stamp Duty (ABSD) and the loan-quantum restrictions recently announced in the government's slew of measures aimed at cooling the property market, because the shophouses have been zoned as commercial units, said Mr Poh.
"There'll always be a limited stock of shophouses and you cannot create a historical landmark, so this is a great alternative income-producing investment," he added.
The ABSD kicks in only with properties with a residential component; the SSD, which used to apply to residential properties, now also applies to industrial properties.
The site has received interest from three potential Singaporean buyers.
The public auction has been slated for Jan 23.