Kampong Glam Conservation 2 Freehold shophouses In The Market
Two freehold shophouses at 33 and 35 Sultan Gate have been put available for $11.55 million ($3,500 psf on assessed developed region). They are to be sold together. CBRE is the sole promoting specialist. The two shophouses have an absolute developed region of around 3,300 sq ft and appreciate a wide street facing of around 8m along Sultan Gate. They have a consolidated land region of around 1,771 sq ft, held under an individual land title. Both accompany perpetual F&B endorsement for levels one and two.
Freehold shophouses are those which do not fall within the ‘common law’ of being a leasehold property. This means that they are a part of the traditional rent to own system. They can be bought and sold by the new owners, but they cannot be let as they are still part of the property. Therefore freehold is an integral part of the buying and selling of this type of property. Letting agents will be able to access the freehold market, in order to help potential buyers to find suitable freehold buys. This will put in more interest for mix developments such as Canninghill Piers which also has a retail component as well.
There are many beautiful views at Canninghill Piers. If you want to see the Singapore skyline, this is the place to be. This will give you a great view of the many bridges, skyscrapers and even the airplanes taking off at the airport. The views are very pleasant and if you love the sound of the water rippling along the shore, this is definitely the place for you. There are many restaurants located on the waterfront as well, such as The Greystone, The Bombay Baking Company and many more.
One of the most important aspects of the property is the location. Once you are sure about the desired location and the rate, then you can start researching about the available Canninghill Piers property. You can talk to the people living in the area or search about the property on the internet. By this, you will be able to find out about the reputations of the people living in Canninghill Piers area.
Kampong Glam Conservation 2 Freehold shophouses In The Market
When you look around your local area, you will see a large number of freehold properties. These include flats, townhouses and private houses, and there are many different kinds of freehold. Each has its own advantages and disadvantages, and depending on your requirements and the area where you are looking for a property, you could find that there are several different kinds available. For example, you may be looking for a freehold property that comes with a mortgage and is secure and provides security from vandalism or similar issues.
In this situation, it may be a better idea to purchase a freehold flat or house instead of buying a let. It is important to bear in mind that the money that you pay to buy into a freehold purchase is money that you are not going to have to repay in the future. As long as the property owner does not default on their mortgage, you will be able to stay in your property. Buy to let mortgages will often come with significant interest, so this may not always be the case. It is, however, important to understand the costs associated with freehold properties before committing to anything.
Buy to let mortgages for Canninghill Piers are available from a wide range of mortgage providers and lenders. Many of them offer a choice of fixed rate contracts. Some of these contracts will be better value and come with lower interest rates than others. Before buying into a contract, make sure you know exactly what the monthly payments and costs will be. A great deal of research can go towards ensuring that you find the cheapest and best buy to let property and deal that offer the most value for money.
Interest Seen in Mix Developments Such as Canninghill Piers
If you are going to buy into freehold flat or houses, it is also worth looking at the local housing market to identify any possible problems. There are often signs that properties in your area are not selling very quickly, and if there are, this could mean that the owners have not invested in advertising or they have chosen a poor property. This could result in higher prices being asked for the property, which could push the price of the property up.
If you are going to buy a property at Canninghill Piers, you are going to have to pay for the building and any land that it sits on. Some people will look to invest in a part of a property and buy the rest as a leasehold property. You will still need to look around for the best deal, but you won’t have to worry about paying off the entire mortgage. Land prices have risen dramatically over the last few years, so those who purchase a freehold home could expect to make a substantial profit on their investment. It is always a good idea to set a budget for the total cost of a property so that you do not end up going over your budget.
The property is drafted “business” under the 2019 URA Master Plan and there will be no extra purchasers’ stamp obligation or merchants’ stamp obligation forced. The two local people and outsiders are qualified to purchase.
Clemence Lee, ranking executive of capital business sectors (Singapore) at CBRE, says, “The effective purchaser can profit by the high and self-supporting footfall to the area by either possessing the property to run their own café or to rent it out to a F&B administrator.”
Kampong Glameng is a multi-cultural shopping destination in Singapore. Strategically located on busy Arab Street, Kampong Glam suffuses the buzz of Asia with its multi-cultural flair. Its 19th century shophouses are now turned into retail shops selling casual clothing, handbags and fried food. Notable attractions here include the Malay Heritage Center, a century-old structure that contains the world’s oldest listed building, and the golden dome-like Sultanah Malaysia Building, which houses the country’s central government administration and nerve centre of policymaking. Handbag and garment boutiques line Haji Lane, while street artists sell their wares on nearby Haji Lane Lawn.
Kampong Glameng has a mixed heritage of Chinese and Indian cultures. The area was originally populated by Malays and Indians but is now known for its high concentration of expatriates who form the bulk of the population. The majority of the residents here are of Indian origin and speak English. There are also a good number of Muslims (many of whom are converts from Pakistan) and foreigners.
Kampong Glameng can be conveniently explored by day. Buses operate to take visitors to all major locations. The area has a train station that connects it to the rest of the region via train. Taxis, car-hire and rickshaws also provide regular transport to the tourist areas.
It is possible to book hotel accommodations right in the center of the area. The cheapest rates are charged at the end of each day. Rental options range from single room per person, two double rooms, to a large group. Most hotels offer daily breakfast, afternoon tea and evening snacks in their establishments.
Tourists will find some of the best shopping in Asia, in one of the biggest open air bazaars. The market is open throughout the day, though it closes down during the evening. There are many stalls selling antiques, textiles, handicrafts, Chinese furniture and apparel. The largest sellers are the silk garments and handicrafts.
A few minutes walk from the center of the bazaar is a small market that sells fresh fish and seafood. These are called the ‘fish markets’. Fresh fruits, vegetables are also available at reasonable rates. Foreign tourists looking for bargain shopping will find this market packed with local vendors and foreign national and international tourists.
Lee adds that the shophouses can profit by the current and impending blended use improvements like Duo and South Beach, Guoco Midtown, just as the redevelopment of Shaw Towers and The M.
Leave a ReplyWant to join the discussion?
Feel free to contribute!