Three shophouses from the Bugis and Duxton Area are up for sale. The 2 shophouses at Bugis, at 13 and 14 Bali Lane, have been set up for sale together, at a direct price of $9.8 million.
The shophouse pair for sale along Bali Lane spans two storeys, is zoned for commercial use, and sits on a land size of 1,470 sq feet with a total floor area of 2,581 sq ft. it’s currently partially tenanted.
The 2 shophouses are inside a five-minute walk to Bugis MRT Interchange Station on the Downtown and East-West Lines. They are alongside Blue Jazz Cafe, a popular hotspot.
“Bugis is becoming increasingly attractive to a growing pool of multinational companies based in Grade-A office improvements Duo Tower, Bugis Junction Towers and forthcoming Guoco Midtown,” remarks Loyalle Chin, associate manager at Propnex Realty, which is marketing the home.
The area also attracts”millennials who appreciate the diversity in Bali Lane and Haji Lane, full of live local music, java places and attractive F&B establishments”, Chin adds.
A variety of notable transactions have taken place from the Bugis enclave. On October 8, it was announced that Hoi Hup Realty would acquire luxury resort Andaz Singapore at $475 million in M+S Pte Ltd, a joint venture between Malaysia and Singapore.
New commercial developments in the Bugis area also comprise Guoco Midtown and the newest Shaw Towers development.
Meanwhile, the shophouse at 42 Duxton Road sits to a land of 1,118 sq feet, with a total floor area of 2,035 sq ft.
It’s now tenanted into Kokuyo, a furniture and space design company with offices in China, Thailand, Hong Kong, Malaysia and Singapore. The rental return is 3.3%,” says PropNex.
“With rental yields generally compressed between 1.8% and 2.5%, which is certainly one of the greatest rental returns for a shophouse from the CBD,” says Chin.
In February, 29 Stanley Street was offered at $22.1 million ($3,400 psf).
The decrease manual price for its shophouse at 42 Duxton Road, in $5 million, will allow easier entry for high-net-worth individuals to put money into CBD shophouses and allow for more capital appreciation, states PropNex.
Duxton is in near vicinity to 3 MRT stations: Outram Park MRT Interchange Station on the East-West and North-East Lines, Tanjong Pagar MRT Station on the East-West Line, and also the future Maxwell MRT Station about the Thomson-East Coast Line, which is slated for completion at 2021.