For Sale: Two-Storey Tastefully Refurbished F&B Shophouse in the CBD At $8.8 Million

201 South Bridge Road sits on approximately 1,049 sq ft of land with a floor area of approximately 2,582 sq ft. The shophouse has been extensively renovated in 2022 and comes fully fitted with modern specifications. It also features an exclusive, fully decked open terrace on the second floor. Zoned “Commercial”, the property enjoys 100% occupancy and has been approved as a restaurant on the ground floor and an office on the second floor. Subject to the authorities’ approval, the second floor could also be used as a “restaurant”.

The shophouse is situated between the commercial offices in Singapore’s Central Business District and the historic, culturally rich Chinatown district. The area has become one of Singapore’s trendy destinations amongst locals and expats to visit and is lined with conserved shophouses housing quaint shops, eating places and bars, and lifestyle establishments.

The precinct is also poised to welcome the new hotel development, ICON Hotel at 8 Club Street, scheduled to open by this year. Situated right next door to the property, ICON Hotel will be a 19-storey upscale hotel with over 900 rooms and commercial spaces. The new hotel development will feature a through block link which will increase connectivity and foot traffic from Telok Ayer to South Bridge Road, as well as an underpass access that links directly to both Telok Ayer and Chinatown MRT stations.

Ms. Sophia Lim, Director, Investment Sales & Capital Markets, Savills Singapore, shares, “With its location right next to the upcoming ICON Hotel, 201 South Bridge Road will benefit from the increased footfall. Prospective buyers can also expect to enjoy further rental and capital value upside from the property, benefitting from the increased vibrancy in the near term.

CBD shophouses going for less than $9 million do not come on the market often. Given 201 South Bridge Road’s excellent locational attributes and palatable quantum, this property will be sought after by buyers who would like to acquire a CBD shophouse in an exciting precinct that is still undergoing urban transformation,” she adds.

The guide price for 201 South Bridge Road is $8.8 million, which translates to $3,408 psf per floor area.

Foreigners and companies are eligible to purchase the shophouse and there will be no Additional Buyer Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) payable.

The sale will be conducted through a Public EOI exercise, which concludes Wednesday, 27 March 2024, at 3pm.