Savills Singapore, as the exclusive marketing agent, is proud to offer for sale, 52 Boat Quay, a rare freehold shophouse located in the heart of the bustling Boat Quay district with an exclusive Singapore River frontage.
Located in the Boat Quay Historic conservation area, the rare 999-year shophouse sits on a 1,119 square feet site and has an estimated total built-up area of approximately 6,446 square feet across 6 storeys. The property was fully refurbished in 2015, this included the installation of a lift that serves all floors. The shophouse comes with concrete flooring, permanent restaurant approval on the ground floor and office-use approval on the upper levels.
Zoned as “Commercial”, the shophouse is fully leased to strong and reputable tenants. The top two levels, including some roof terrace space, are occupied by Braci, a Michelin-starred Italian restaurant. An Izakaya bar is on the first level while the second to fourth levels are currently leased to corporates as office space.
Tastefully restored, this rare 6-storey CBD shophouse is the tallest of all the conservation shophouses situated along the Singapore River. It stands out prominently amongst its neighbours as a trophy asset amongst investors. Located along the winding part of Singapore River, known as the “Belly of the Carp” due to its curved shape resembling that of a fish, it is deemed auspicious by the Chinese.
Boat Quay has always been a buzzing hotspot for dining with constant foot traffic throughout the day and night. Popular amongst tourists and locals alike, the area is known for its alfresco dining, boasting impressive views of the Singapore River. The shophouse enjoys excellent accessibility with Raffles Place MRT Interchange station located merely two minutes’ walk away. It is surrounded by major office buildings such as CapitaSpring, UOB Plaza1 and 2, One George Street, OCBC Centre and One Raffles Place.
Ms. Yap Hui Yee, Director, Investment Sales & Capital Markets at Savills Singapore, said: “52 Boat Quay presents a rare opportunity for an investor to acquire a prized trophy asset boasting impressive views and frontage along the Singapore River. With the stellar growth of freehold CBD shophouses in the past 2 years, the shophouse is primed to receive strong interest from investors, family offices and high-net-worth individuals seeking wealth preservation for years to come.”
“Freehold shophouses in the Boat Quay precinct have always been tightly held and it is extremely rare for a riverfront-facing property to be available for sale. This is also an excellent opportunity for owner-occupiers such as family offices to acquire a charming flagship property with potential signage right in the heart of Central Business District for their own operations”, Ms. Yap added.
The guide price for 52 Boat Quay is $45 million. The recent transaction for a riverfront-facing shophouse was 40 Boat Quay in January 2022. The three-storey with mezzanine level property was transacted at S$17.2 million, which translates to S$5,931 per square foot on floor area.. Foreigners and companies are eligible to purchase the properties and no Additional Buyer Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) will be imposed.
The sale will be conducted through an Expression of Interest exercise which closes on Friday, 7 October 2022, at 3pm.
Find out more through the video here.