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.
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.
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.
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.
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.
Source: Business Times –16 January 2013
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