A freehold, five-storey conservation shophouse with attic at 42 South Bridge Road is up for sale at an indicative guide price of $33.4 million, or approximately $5,200 psf based on total floor area, according to exclusive marketing agent CBRE.
Sitting on a land area of approximately 1,612 sq ft, the property has a total floor area of approximately 6,430 sq ft and is located within the Upper Circular Road Conservation Area in the Central Business District (CBD).
Under the current Urban Redevelopment Authority Master Plan, it is zoned for commercial use with a gross plot ratio of 4.2.
According to CBRE, the shophouse is well-refurbished with modern interiors and efficient floor plates. Restaurant approval has been obtained for the ground floor, fifth floor and attic, which are currently leased to a bar-cum-coffeehouse and a modern East Asian bistro respectively.
The third floor is occupied by a private wine club, while the remaining floors serve as office space.
As a commercial property, the asset is open to foreign purchasers with no additional buyer’s stamp duty (ABSD) or seller’s stamp duty (SSD) imposed on the transaction.
42 South Bridge Road is a six-minute walk from Clarke Quay Central and Clarke Quay MRT Station, and is within walking distance of several other MRT stations including Raffles Place, Chinatown, City Hall, Telok Ayer and Fort Canning.
The Upper Circular Road Conservation Area sits between two of Singapore’s most established lifestyle destinations — Boat Quay and Clarke Quay — and is home to a mix of acclaimed restaurants and bars, boutique hotels, offices and fitness studios.
Michael Tay, deputy managing director and head of capital markets, Singapore at CBRE, says: “The property’s strategic position at the intersection of several key districts underpins strong demand from both investors and tenants. This location is particularly advantageous, benefitting from the significant working population in the CBD, as well as robust footfall from both locals and tourists.”
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Clemence Lee, executive director of capital markets, Singapore at CBRE, adds: “The Urban Redevelopment Authority’s (URA) recent relaxation of use restrictions is a positive development for the wider Boat Quay and South Bridge Road precinct.
“This regulatory change offers greater flexibility, potentially allowing surrounding buildings to be converted or redeveloped into hospitality and residential uses. In turn, this is expected to increase visitor and resident density in the vicinity. Over time, the anticipated uplift in activity and spending should support rental growth and drive higher capital values for well-located assets such as 42 South Bridge Road.”
The expression of interest exercise for 42 South Bridge Road will close at 3pm on July 28.
National Development Minister Chee Hong Tat announced on June 5 greater flexibility for hotels, backpacker hostels and serviced apartments within two heritage precincts at Upper Circular Road and Beach Road.
New hospitality proposals were generally not allowed in the Upper Circular Road and Beach Road street blocks. URA has lifted restrictions in Upper Circular Road and Beach Road to provide visitors with more accommodation options in the area.
In a circular released on June 5, URA says it is “prepared to consider new hotels, backpackers’ hostels and serviced apartments within these areas” to provide “greater flexibility” for businesses and offer a wider range of options for building owners. The circular is effective till May 31, 2028.
