CBRE is pleased to be appointed as the sole marketing agent for two prime freehold shophouses located at 33 and 35 Sultan Gate, right in the heart of the Kampong Glam conservation area. The sale will be by way of an Expression of Interest, which closes on 29 April 2021.

The total built-up area of both shophouses is approximately 3,300 square feet. Enjoying a wide road frontage of approximately 8 meters along Sultan Gate and a depth of approximately 24 meters, the two shophouses occupy a combined land area of approximately 1,771 square feet, which is held under an individual land title. Both shophouses come with permanent F&B approval for both Level 1 and 2.

To be sold as an entirety, the two shophouses command an indicative price of approximately S$11.55 million, which works out to approximately S$3,500 per square foot on the estimated built-up area.

As the subject property sits on a site that is zoned for ‘Commercial’ use under the 2019 Master Plan, there will be no Additional Buyers’ Stamp Duty or Sellers’ Stamp Duty. The opportunity is open to both local and foreign buyers.

Clemence Lee (利伟强), Senior Director, Capital Markets, Singapore at CBRE says, “It is uncommon to come across shophouse assets made available for sale that have obtained F&B approvals for both levels; typically, F&B approvals are only either for the ground floor or none at all.

Over the years, we have seen trendy cafes and F&B establishments mushrooming in Kampong Glam, transforming the locality into a bustling F&B lifestyle destination for locals and tourists alike. The successful buyer can capitalize on the high and self-sustaining footfall to the vicinity by either occupying the property to run their own restaurant or to lease it out to an F&B operator.”

Some popular F&B establishments in the locality include Arabica Coffee, Blu Jaz Café, Rich and Good Cake Shop, Geylang Clayot Rice, Fika Swedish Café and Bistro, RUmah Makan Minang, IStanBlue Meze & Grill and Overrun Ice Cream.

Mr Lee continues, “33 & 35 Jalan Sultan presents a timely opportunity for investors looking to acquire an asset within a growth location. Given the introduction of various mixed-use developments such as Duo and South Beach, and upcoming developments such as Guoco Midtown, the redevelopment of Shaw Towers and The M – all of which will propel the vicinity’s transformation into the next hotspot for live-work-play, we are confident of strong interest in the subject property from astute investors who can look forward to capital and/or rental appreciation in the mid- to long-term.”

33 and 35 Sultan Gate is located within the heart of Kampong Glam conservation area, which is an eclectic hub offering a diverse mix of cultural, entertainment, F&B and lifestyle attractions frequented by both locals and tourists.

For more information contact Clemence Lee via the contact form below. 

Similar to this:

A Brand New Freehold Three-storey Commercial Building Along Upper Changi Road North For Sale CBRE 

Boutique hotel for sale in Singapore's Chinatown - CBRE