South Bridge Road, Frankel Avenue assets hit market for $67m

The sites were offered through an expression of interest.

Three freehold properties comprising two commercial buildings on South Bridge Road and a shophouse on Frankel Avenue are up for sale for $67m via an Expression of Interest.

CBRE said the largest asset, 80/82 South Bridge Road, is a six-storey commercial building with a 3,127 square feet land area and 9,848 sq ft gross floor area (GFA).

The property has unutilised potential to expand GFA to approximately 13,133 sq ft, subject to approval.

The building is fully leased and holds food and beverage approvals on its first two levels, with a guide price of $40m, or $4,062 per square foot on existing GFA and $3,046 per square foot on maximum allowable GFA.

74 South Bridge Road, a few doors down, is also a six-storey commercial building, with a 1,093-sq-ft land area and 5,791-sq-ft GFA, fully leased to a mix of tenants.

Guide price is $20.5m, or $3,540 per square foot on existing GFA.

The third asset, 89/A Frankel Avenue, is a two-storey shophouse with a 2,296-sq-ft site area and 3,441-sq-ft total floor area.

It has a permanent restaurant approval on the ground floor and residential approval on the second level, with a guide price of $6.5m, or $1,889 per square foot of total floor area.

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