A pair of adjoining refurbished shophouses in the Chinatown Conservation Area zoned for commercial use are up for sale, says exclusive marketing agent Savills Singapore.
Sitting on a combined land area of approximately 2,847 sq ft and a total builtup area of about 8,259 sq ft, the shophouses at 277 and 279 South Bridge Road are currently anchored by Gunkee Claypot, a well-established Chinese F&B operator.
The property will be sold with existing tenancies, providing investors with immediate rental income, notes Savills Singapore in a Feb 26 announcement.
The property enjoys prominent street frontage and high pedestrian visibility, and is within walking distance to Chinatown and Maxwell MRT Stations. There will be no seller’s stamp duty (SSD) or additional buyer’s stamp duty (ABSD) applicable. Foreigners and companies are also eligible to purchase.
Yap Hui Yee, executive director, investment sales & capital markets at Savills Singapore, says South Bridge Road benefits from a “unique dual catchment”, serving both tourists visiting the Chinatown precinct and the large population of working professionals from the nearby Central Business District (CBD).
“Its strong street presence within a highly activated heritage enclave, coupled with stable tenancy and immediate income, positions this pair of shophouses as an attractive opportunity to secure a well-located heritage asset bridging Chinatown and the city core,” adds Yap.
The property will be sold via an expression of interest (EOI) exercise closing at 3pm on April 1.
While Savills Singapore did not share a guide price, 277 and 279 South Bridge Road were put up for sale at $15.5 million in 2019 — before the current tenant entered — by OrangeTee & Tie. The owners then were 11 stakeholders looking to consolidate their assets, and the two shophouses were purchased in 2013 for $13 million.
In 2024, the adjacent 273 and 275 South Bridge Road were put up for sale at $50 million, six years after the owner purchased the two shophouses for $26.5 million. The shophouses are currently still leased to co-living hotel operator ST Signature.
