SINGAPORE: A historic two-storey shophouse located on Bussorah Street in the heart of the vibrant Kampong Glam district has been listed for sale at $5.18 million. The exclusive agent for the sale, Feracity, announced that the property represents a unique investment opportunity due to its prime location, current rental income, and potential for growth.
The shophouse, featuring a land area of 725 square feet and a total floor area of approximately 1,300 square feet, offers a 99-year leasehold from 2003. The structure stands as an example of traditional architecture that has been integrated into Singapore’s modern landscape. Its existing tenure assures stability and long-term potential for both residential and commercial purposes.
Feracity also highlighted that the property currently has tenants, providing immediate rental income for the future owner. This feature, combined with the ongoing revitalization efforts in the area, makes the shophouse an attractive option for investors and entrepreneurs looking to capitalize on Singapore’s booming real estate market.
“This presents an opportune moment for savvy investors and entrepreneurs to capitalize on prime real estate,” Feracity Associate Executive Director Adnic Lee stated. “Kampong Glam is undergoing a significant transformation, and this property is perfectly positioned to benefit from it.”
The Kampong Glam Alliance, comprising local residents, cultural institutions, and businesses, announced plans in July 2023 to further enhance the area’s appeal. Over the next four to five years, the alliance aims to implement a series of initiatives to attract more visitors and residents. These include enriching the district with diverse cultural activities, adding more green spaces, and commissioning captivating artwork that reflects the area’s unique heritage.
“These initiatives are expected to solidify Kampong Glam’s position as one of Singapore’s most enticing destinations, with its rich history, unique architecture, and dynamic cultural scene,” Feracity explained.
Bussorah Street, where the shophouse is located, is known for its bustling atmosphere and vibrant mix of traditional and modern establishments. It is a popular spot for tourists and locals alike, offering a wide range of dining, shopping, and cultural experiences. With the ongoing development plans in the area, the property is likely to see increased demand and appreciation in value over time.
As the Kampong Glam district continues to evolve, this shophouse could represent a key investment in one of Singapore’s most iconic neighborhoods.
TISG/
The post 2-storey shophouse in Kampong Glam on sale for $5.18 million appeared first on The Independent Singapore News – Latest Breaking News
