Savills Singapore brokered the sale six-storey Boat Quay shophouse for $37 million

Savills Singapore is pleased to announce the successful sale of the six-storey Boat Quay shophouse located at 52 Boat Quay for $37 million, reaping $16 million profit for the seller.

The property covers a 1,119 square feet site and has an estimated total built-up area of about 6,446 square feet across the six storeys. The shophouse has undergone extensive renovations in 2015 and is now a modern and well-equipped commercial space, complete with a lift serving all floors.

Located in the vibrant Boat Quay area known for its heritage buildings, bustling nightlife, and popular dining establishments, the property's top two levels, including some roof terrace space, are currently occupied by Braci, a Michelin-starred Italian restaurant. An Izakaya bar is on the ground level, while the second to fourth levels are currently leased to corporates as office space.

Ms. Yap Hui Yee, Executive Director, Investment Sales & Capital Markets at Savills Singapore says, “I am thrilled to have brokered the sale of this top-quality Boat Quay shophouse, which has generated significant interest from investors. The sale is a strong testament to the strong demand for high-quality commercial shophouse properties in Singapore's prime locations.”

“Considering that shophouses in the Boat Quay precinct are typically tightly held, it is extremely rare for a riverfront-facing property to be available for sale – this shophouse presented as an excellent opportunity for my long-standing client to acquire this charming flagship property in the heart of Central Business District.”

The successful sale of this shophouse is a strong testament to the Singapore property market's resilience and growth. The transaction underlines the strong demand for well-located and well-designed commercial shophouses.

Savills Investment Sales & Capital Markets has an extensive portfolio of properties, including shophouses, office buildings, collective sales, retail, hotel and mixed-use investment properties. For more information, please visit http://sav.li/59.