Six-storey Boat Quay shophouse sold for $37 mil

High demand for premium commercial shophouses in the prime Boat Quay location has resulted in the sale of a six-storey shophouse for $37 million. Savills Singapore brokered the deal, in which the seller made a sizeable gain of $16 million. The prime property, located at 52 Boat Quay and occupying a 1,119 sq ft site, comes with an estimated total built-up area of about 6,446 sq ft.

Renovations in 2015 have resulted in a modern and well-equipped commercial space, complete with corporate office tenants situated on the second and fourth floors. On the ground floor stands an Izakaya bar, whilst on the top two floors is the Italian restaurant Braci.

Yap Hui Yee, Executive Director of Investment Sales and Capital Markets at Savills Singapore, was responsible for the deal. She commented that the property attracted “significant interest” and cited the rarity of riverfront-facing properties being available for sale in the area, speaking highly of its charm.

The history of the shophouse shows that the seller purchased it in June 2018 for $21.35 million, indicating a whopping profit of $16 million. It’s not a surprise that investors were eager to get their hands on this property!

Check out the latest listings near Boat Quay – the high demand for premium commercial shophouses in this prime location has opened a unique opportunity to acquire charming flagship properties in the heart of the CBD.

EdgeProp Research tool provides an overview and map of commercial properties on and near 52 Boat Quay to assist in making informed decisions.

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