Mortgage , Property News , Real Estate

Six-storey Boat Quay shophouse sold for $37 mil

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, SingaporeAn exceptional opportunity to acquire a modern and well-equipped commercial space located in the heart of Singapore’s CBD emerged with the sale of a six-storey shophouse in Boat Quay. Brokered by Savills Singapore, the property sold for a total of $37 million, resulting in a $16 million gain for the seller.Occupying a 1,119 sq ft site with an estimated total built-up area of 6,446 sq ft, the shophouse underwent extensive renovations in 2015. Currently, the top two floors are occupied by the Italian restaurant Braci, while an Izakaya bar occupies the ground floor and corporate office tenants on the second and fourth floors.

The sale of this Boat Quay shophouse was proof of a consistent demand for high-quality commercial properties in prime locations. The rarity of a riverfront-facing property being available for sale made is a desirable opportunity for investors. Yap Hui Yee, Executive Director of Investment Sales and …