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 gain of $16 million from the recent sale.

Despite shophouses in the Boat Quay precinct typically being tightly held, this riverfront-facing property was made available for sale.

Investors interested in purchasing commercial properties located in Boat Quay should take the opportunity to check out the latest listings near the area. Additionally, EdgeProp’s research tool can provide an overview of recent transactions of properties on and near 52 Boat Quay.

$37 million was recently paid for a six-storey Boat Quay shophouse located in Singapore’s central business district. Savills Singapore, who brokered the deal, stated that the property had undergone extensive renovations in 2015 and is now a modern and well-equipped commercial space.

Covering 1,119 sq ft and located in a desirable area, the shophouse drew “significant interest” from investors. Yap Hui Yee, executive director of investment sales and capital markets at Savills Singapore, described the sale as an “excellent opportunity” for the long-standing client to acquire a “charming flagship property in the heart of the CBD”.

The property consists of the Italian restaurant Braci occupying the top two floors and an Izakaya bar on the ground floor. Corporate office tenants use the second and fourth floors.

The seller had purchased the property in June 2018 for $21.35 million and made a substantial profit of $16 million upon sale. Boat Quay shophouses are known for being tightly held, making this riverfront-facing property a rare opportunity for buyers.

Investors interested in purchasing commercial properties near Boat Quay should take the opportunity to check out the latest listings. Additionally, EdgeProp’s Research Tool can provide an overview of recent transactions of properties on and near 52 Boat Quay.

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