Six-storey Boat Quay shophouse sold for $37 mil

52 Boat Quay, a six-storey commercial shophouse located in Singapore’s central business district, recently sold for $37 million. Savills Singapore, who brokered the deal, described the property as a modern and well-equipped commercial space. It had undergone extensive renovations in 2015 and consists of a 1,119 sq ft site with an estimated total built-up area of 6,446 sq ft.

The prime location and desirable property drew “significant interest” from investors, Savills said. The top two floors are occupied by the Italian restaurant Braci, while an Izakaya bar occupies the ground floor. Corporate office tenants use the second and fourth floors.

Savills executive director of investment sales and capital markets, Yap Hui Yee, commented that the sale was an “excellent opportunity” for the long-standing client to acquire a “charming flagship property in the heart of the CBD”.

The seller had purchased the property in June 2018 for $21.35 million, making a …

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