Freehold Shophouse Beach Road Be Auctioned 938 Mil
A freehold two-storey commercial shophouse located on Beach Road is set to go under the hammer at an auction by real estate agency SRI on June 26. The property, which falls under the conservation category, has a built-up area of 2,344 square feet and includes a mezzanine level. With a guide price of $9.38 million, the shophouse translates to $4,002 per square foot on the floor area.
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According to Mok Sze Sze, managing partner of auctions at SRI, this trustee’s sale will be the second time the property is put up for auction. It was initially listed in April with the same guide price but was later withdrawn due to unsuccessful bids. It did not reappear on SRI’s auction list in May.
The commercial shophouse is situated on a prime 1,370 sq ft plot and boasts an 18.9m frontage facing Beach Road. It is currently tenanted and will be sold with its existing lease, which is set to expire in March 2026. Based on URA rental transactions collated by EdgeProp Singapore, the median rent for shophouses in the Kampong Glam subzone in April, the latest month of record, was $6.93 per square foot per month.
The most recent transaction for a shophouse in the area was the sale of 68 Arab Street in May. The freehold shophouse, which sits on a 1,187 sq ft plot, was sold for $7.1 million. Sze Sze confirms that the commercial shophouse has garnered interest from investors and potential occupiers who are drawn to its prime location, commercial zoning, and freehold tenure.
As for the location, the shophouse is situated in the Kampong Glam Conservation Area. This area is home to historic buildings such as Masjid Sultan and Istana Kampong Glam, which houses the Malay Heritage Centre. Most of the shophouses in this area are well-preserved two-storey buildings designed in the Early and Transitional architectural styles.
Located in close proximity to Nicoll Highway MRT Station on the Circle Line, the shophouse is also surrounded by notable commercial buildings such as City Gate mall, The Concourse, and Parkroyal on Beach Road. Furthermore, the integrated development Duo Tower is located in close proximity to the shophouse.
[Recent commercial transactions in the area]Source: EdgeProp Singapore, URA
Overall, the shophouse’s freehold tenure, prime location, and commercial zoning make it a highly sought-after property amongst both investors and owner-occupiers. Interested buyers can look forward to the auction at the end of June, where they can vie for this unique and valuable property.