, Singapore52 Boat Quay, a six-storey shophouse, has been sold for $37 million, with the seller making a gain of $16 million, said Savills Singapore. Located in a 1,119 sq ft site in Boat Quay, it boasts a total built-up area of 6,446 sq ft. In 2015, the shophouse underwent extensive renovations, now a modern and well-equipped commercial space. It was purchased by the seller in June 2018 for $21.35 million.The property is occupied by an Italian restaurant, Braci, on the top two floors, an Izakaya bar on the ground floor, and corporate office tenants on the second and fourth floors. Yap Hui Yee, from Savills, said the sale of the shophouse reflects the high demand for quality properties in prime locations. She added, “It is extremely rare for a riverfront-facing property to be available for sale.”Recent transactions of commercial properties near 52 Boat Quay demonstrate an appreciation in value of the surrounding area’s property.

A six-storey shophouse located at 52 Boat Quay in Singapore has recently been sold for $37 million – a significant gain of $16 million for the seller. Savills Singapore brokered the deal, highlighting the strong demand for such properties in prime locations.

Taking up 1,119 sq ft of land, the shophouse has an estimated total built-up area of 6,446 sq ft. A thorough renovation of the property in 2015 has given it a modern and well-equipped look. Based on the registered caveats, the seller acquired the property for $21.35 million in June 2018.

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Occupying the top two floors of the shophouse is the Italian restaurant, Braci. On the ground floor, there is an Izakaya bar while the second and fourth floors are taken up by corporate office tenants.

Yap Hui Yee, the executive director of investment sales and capital markets at Savills Singapore said the shophouse had “significant interest” from interested investors. She noted, “Considering that shophouses in the Boat Quay precinct are typically tightly held, it is extremely rare for a riverfront-facing property to be available for sale. This shophouse was an excellent opportunity for my long-standing client to acquire this charming flagship property in the heart of the CBD.”

Recent transactions of commercial properties on and near 52 Boat Quay demonstrate an appreciation in property values in the surrounding area. This is especially significant for the sale of the shophouse, given its prime location and rarity.