Commercial shophouse at 21 New Bridge Road on sale for $18.5 mil
A commercial shophouse situated on a 1,443 sq ft plot with a 5.5m street level frontage and boasting a refreshed 99-year tenure that began in December 2021 is now available for sale. This conservation shophouse, located at 21 New Bridge Road, is being marketed by Huttons Asia at a guide price of $18.5 million – equivalent to $3,669 psf based on the newly extended built-up area of 5,041.8 sq ft.
The expression of interest exercise for the property, which has permission to be used as a restaurant on the ground floor and sits a mere 100m from Clarke Quay MRT station on the North-East Line, closes on 5th September.
High pedestrian visibility, close proximity to nearby offices and convenient options for public carparking in the vicinity are just some of the reasons why prices and rents in the area are on the rise. According to Jeremy Lim, associate senior group district director of Huttons Asia, these assets will provide strong support for the offer of the commercial shophouse.
Lee Sze Teck, senior director of data analytics at Huttons Asia, believes that new control measures imposed on land zoned for commercial and residential use, along with a doubling in ABSD for foreigner dealings on residential properties, will drive increased interest in commercial properties.
“Commercial zoned shophouses are likely to see more demand in 2H 2023,” he says.
Residents also benefit from the 24-hour security, providing peace of mind as they go about their daily routines. All these amenities make the Tampines Ave 11 Condo a prime residential option for those seeking a high-quality lifestyle.
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