A trio of shophouses in Singapore's historic Kampong Glam district is being marketed for sale through CBRE.

Benefitting from a wide road frontage onto Baghdad Street, the subject properties occupy a combined land area of approximately 1,605 square feet, with a tenure balance of 74 years. 

The total floor area of the shophouses is approximately 2,548 square feet, with the properties held under an individual land title. 

At a glance:

• Three adjoining shophouses at 4, 16 and 18 Baghdad Street, Kampong Glam are for sale through CBRE Singapore.
• The total floor area of the shophouses is approximately 2,548 square feet, with the properties held under an individual land title.
• The sale will be by way of an Expression of Interest, which closes on 6 November 2020.

As the site is zoned full ‘Commercial’ within the Kampong Glam Conservation Area under the 2019 Master Plan, there will be no Additional Buyers’ Stamp Duty or Sellers’ Stamp Duty. 

CBRE Singapore Capital Markets Senior Director Clemence Lee said the surrounding Kampong Glam historic district become an eclectic hub, offering a diverse mix of cultural, entertainment, F&B and lifestyle attractions frequented by both locals and tourists. 

"Kampong Glam has evolved from an area of rich history revolving around the Muslim community in Singapore and activities focusing on textile trade to one that now exudes ethnic hipster vibes drawing an increasingly young and diverse group of visitors," she said.

"Coupled with the ongoing rejuvenation projects such as Guoco Midtown that will propel the vicinity’s transformation into the next hotspot for live-work-play offerings, we are confident that the shophouses will garner strong interest from both astute investors and  owner-occupiers who are looking to capitalize on these aspects to enjoy capital and  rental upsides in the near future.” 

“Meanwhile, the successful buyer can enjoy immediate rental income as the shophouses are currently fully tenanted by F&B and takeaway food establishments, and wellness and convenience stores.

"The subject property also presents flexibility to owner-occupiers if they wish to configure the space and maximise usage that is potentially ideal for shops, F&B offerings and gym/fitness centres, subject to authorities’ approval.” 

To be sold as an entirety, the three shophouses 14, 16 and 18 Baghdad Street command an indicative price of approximately S$7.64 million, which works out to approximately S$3,000 per square foot.

The sale will be by way of an Expression of Interest, which closes on 6 November 2020.

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