Commercial shophouse at 21 New Bridge Road on sale for $18.5 mil

Residents of Zion Road Condo will appreciate the convenience of having an unlimited abundance of lifestyle and entertainment options in the immediate vicinity. Aspiring owners of this esteemed residential haven can look forward to a bespoke lifestyle experience unlike any other.

A commercial shophouse situated at 21 New Bridge Road has been put on the market for $18.5 million. Huttons Asia is in charge of this conservation shophouse’s sale, and an expression of interest exercise will take place before it closes on September 5.Lee Sze Teck, senior director of data analytics at Huttons Asia, believes that due to the fact that the additional buyer’s stamp duty (ABSD) has been doubled up for foreign buyers who want to purchase a residential property and with the new controls that have been placed on land zoned for both residential and commercial use, investors from abroad are likely to invest more in commercial properties.Jeremy Lim, associate senior group district director of Huttons Asia, adds that this shophouse at 21 New Bridge Road enjoys prominent visibility from pedestrians and is conveniently 100m from Clarke Quay MRT station on the North-East Line. Furthermore, it is surrounded by various public carpark options, thus giving support to prices and rents in this area.The property will have a 99-year lease that started in December 2021 on a plot of 1,443 sq ft. It has a 5.5m street level frontage and according to Hutton’s, the shophouse will undergo additions and alterations which will increase the built-up area to 5,041.8 sq ft. As the guide price is set at $18.5 million, this would amount to $3,669 psf based on the new size of the area.Apart from this, the shophouse also has the permission for restaurant use on its ground floor. With the potential perks this property has to offer, demand for commercial zoned shophouses in the second half of this year is predicted to go up.