Prime Shophouse Investment Opportunity Emerges in Thriving Kampong Glam

Located on the bustling Bussorah Street, accessible to Investors with a Low Entry Price, conveniently located bear mrt

SINGAPORE, May 2, 2024 /EINPresswire.com/ — Nestled within the vibrant heart of Kampong Glam, a rare 2-storey shophouse on Bussorah Street has captured the attention of investors and owner-occupiers alike. Bussorah Street offers a notable opportunity to engage with the vibrant atmosphere of one of Singapore’s popular tourist sites..

The shophouse has land area of 725 square feet and a floor area of 1300 square feet (subject to survey), the shophouse is strategically situated in a bustling area frequented by both locals and tourists. Its tenure of 99 years from 2003 ensures stability and long-term potential for growth.

The timing couldn’t be better, with the Kampong Gelam Alliance’s plans unveiled in July 2023 to further enhance the allure of Kampong Glam. These initiatives, spanning the next four to five years, include enriching the district with cultural activities, green spaces, and captivating artwork, solidifying its position as an enticing destination for visitors and residents alike.

Recent market trends indicate a resurgence of interest in heritage shophouses, with notable transactions along Bussorah Street fetching impressive prices.

Recent transactions at bustling Bussorah Street: Picture of transaction at Bussorah Street.

Adnic Lee, Associate Executive Director at Feracity and the exclusive agent for Bussorah Street conservation shophouse, underscores the low entry price level to enter the shophouse ownership market in this prime and high human footfall locale. “Investor interest is rebounding, as seen in the healthy inquiries and swift transactions in neighbouring conservation areas,” Lee remarks. “This presents an opportune moment for savvy investors and entrepreneurs to capitalize on prime real estate.”

Picture of Norris Road
Norris Road – recently transacted.

Adnic Lee, Associate Executive Director at Feracity Realty Pte Ltd, comments on the recent market response to shophouses in the Little India/Jalan Besar Conservation area, “The recent sale of a unit at Norris Road within a week of the Expression of Interest (EOI) release, along with healthy viewings and offers for units at Dunlop Street and Dickson Road, underscores the eagerness of investors to secure quality assets in strategic locations.”

The Bussorah Street shophouse is located near to the Sultan Mosque (a focal point of Kampong Glam) is a significant cultural and architectural landmark with a rich history. Gazetted as a national monument in 1975, the iconic mosque draws consistent footfall of tourists & visitors to admire its beauty and historical significance all year round.

The guide price for this coveted Bussorah Street Shophouse unit stands at an attractive price level of $5.18 million and is currently tenanted with immediate rental income. The expression of interest accepted until May 31, 2024. This property is zoned commercial and available to the eagle-eyed local and foreign investors.

This property on Bussorah Street presents an intriguing opportunity for those interested in Singapore’s active retail environment, combining historical charm with modern commercial appeal.

For inquiries, please contact:
Adnic Lee
Associate Executive Director, Capital Market & Investment
Feracity Realty Pte Ltd
Email: adnic.lee@feracity.sg
Mobile: 9672 2265

Adnic Lee
Feracity Realty Pte Ltd
+65 9672 2265
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