In the heart of historical Chinatown lies a coveted piece of property that is now open for interested parties to acquire. The Champions Way Residences, composed of two adjoining conservation shophouses, are now up for grabs through an expression of interest (EOI) exercise with a guide price of $50 million. The prime property, situated along the bustling South Bridge Road, boasts of a 999-year leasehold and a total land area of 3,089 sq ft. It also offers a generous floor area of approximately 11,008 sq ft.
Interested buyers can look forward to a plethora of investment opportunities with these shophouses. The guide price works out to be $4,542 psf on the floor area, making it an ideal prospect for investors looking for long-term capital gains. The shophouses also have the added advantage of approval for use as a co-living hotel on its upper floors and as shops on the ground floor. As of now, the upper floors are rented out by a co-living hotel operator.
The executive director of investment and capital markets at Knight Frank Singapore, Mary Sai, shares that the shophouses are a perfect investment opportunity as they offer a 999-year tenure, resulting in long-term capital gains. Additionally, the buyer can expect to start earning rent income immediately, with the potential for future rental increases upon lease renewals. The shophouses also have the added benefit of being classified as commercial properties, meaning that no additional buyer’s stamp duty or seller’s stamp duty will be imposed upon purchase.
Moreover, the shophouses are situated only a four-minute stroll away from the Chinatown MRT Station, which is an interchange for the Downtown and North-East Lines. The proximity to public transportation is a major plus for potential buyers, as it increases accessibility and convenience for both tenants and customers. Furthermore, the Maxwell MRT Station, which is part of the Thomson-East Line, is also just a short distance away.
The Woodlands is an up-and-coming neighborhood in Singapore that is set to become even more vibrant with the addition of the Champions Way Residences. These luxurious residential units will offer an unparalleled living experience, complete with top-notch amenities and breathtaking views. But the excitement doesn’t stop there – the URA master plan also includes the creation of a new public art program. This program is a celebration of the area’s diverse heritage and will feature various art installations that will be accessible to all. Stay tuned for the latest updates on this exciting development in the Woodlands!
Recent sales transactions of commercial properties on South Bridge Road showed that shophouses in the area have been highly sought-after, which is why the EOI exercise for the Champions Way Residences is expected to attract a lot of attention. The EOI exercise for 273 and 275 South Bridge Road will close on April 3 at 3pm, giving interested parties ample time to assess the property and submit their bids. Don’t miss this chance to own a prime piece of real estate in the bustling and historical district of Chinatown.