CONTACT US
Share: Share on Facebook Share on Twitter Share on LinkedIn I recommend visiting cushmanwakefield.com to read:%0A%0A {0} %0A%0A {1}

Iconic Street Fronting 5-storey Building on 49 & 53 New Bridge Road Launched for Sale via Public Tender

27/08/2024

The property enjoys over 31 metres street frontage with an attractive preposition for redevelopment and a fresh lease top up potential.

Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm is delighted to announce the exclusive sale of an iconic 5-storey commercial building (with a mezzanine level) along the fringe of Central Business District via a Public Tender Exercise. 

Located on 49 & 53 New Bridge Road, Singapore 059400 & 059402, the subject property spans over a total land area of 508.3 sq m (approx. 5,471.29 sq ft) which is made up of two Freehold plots and two 99-year Leasehold plots; boasting an estimated Gross Floor Area (GFA) of 2,106.8 sq m (approx. 22,677.38 sq ft). 

49 & 53 New Bridge Road, Singapore

Located just a 3-minute walk from Clarke Quay MRT station and an 8-minute walk from Boat Quay Raffles Place, the property enjoys excellent access to a range of F&B establishments, boutique hotels, fitness studios and services.

The 5-storey building enjoys a street frontage of approximately 31 metres, facing towards Clarke Quay Central (MRT) with an overhead bridge access. Zoned for Commercial Use under MP2019, foreigners and foreign companies are eligible to buy without attracting Additional Buyer’s Stamp Duty (ABSD). There is also a possible Change of Use from existing Office to Restaurant and/or Commercial School across part or all floor(s), subject to URA’s approval. Incoming buyers may also unlock future growth through a lease top-up subject to relevant authorities’ approval.

With the ongoing rejuvenation of its surroundings, the subject property could stand to benefit from new wave of foot traffic and catchment areas in the mid-to-long term. Several noteworthy projects include: Canninghill Piers, an integrated development featuring 696- residential units, a 475-room hotel block and a 192-unit serviced residence, which is under late-stage construction and scheduled for completion in 2025; and a new 48-key boutique hotel on 21 Carpenter Street which opened last December.

Additionally, the asset enhancement initiative at CQ @ Clarke Quay has just also been completed and is expected to serve as a day and night destination appealing to both tourists and locals.

Mr. Shaun Poh, 傅子伟, Executive Director of Capital Markets, explains this exceptional investment opportunity:

“In recent years, more investors in the mid-cap market segment have been seeking value-add or redevelopment opportunities. However, they are often constrained by conservation guidelines, particularly with CBD shophouses. This makes 49/53 New Bridge Road attractive due to its CBD fringe location, palatable investment quantum, and unique redevelopment potential, including a possible fresh 99-year lease renewal.We believe this opportunity will appeal to developers, office users, and commercial school operators who are looking for brand visibility through standalone building naming rights in this revitalised live, work, and play precinct.”

Interested parties are invited to submit a Tender bid to Cushman & Wakefield by Tuesday, 8 October 2024, 3pm.

 

About Cushman & Wakefield
Cushman & Wakefield (NYSE: CWK) is a leading global commercial real estate services firm for property owners and occupiers with approximately 52,000 employees in nearly 400 offices and 60 countries. In 2023, the firm reported revenue of $9.5 billion across its core services of property, facilities and project management, leasing, capital markets, and valuation and other services. It also receives numerous industry and business accolades for its award-winning culture and commitment to Diversity, Equity and Inclusion (DEI), sustainability and more. For additional information, visit www.cushmanwakefield.com.

Recent Press Releases

Malaysia_CrdImge.jpg
Malaysia the fastest growing data centre market in Asia Pacific

Cushman & Wakefield, a global real estate services company, has released its Asia Pacific Data Centre H1 2024 Update.

Amy Kathleen Kelly • 18/09/2024

Asia Reit Market Insight
Asian REIT Market Values Declined by 14.7% to USD263.8 billion at End of 2022

The combined value of the Asian REIT market was at USD263.8 billion at the end of 2022, down 14.7% compared to the end of 2021, according to Cushman & Wakefield’s latest Asia REIT Market Insight for 2022-2023. 

Chek Yee Foo • 07/08/2023

EuromoneySingaporeAwards
Cushman & Wakefield Named World’s Best Real Estate Advisor and Consultant by Euromoney for Fifth Consecutive Year

Cushman & Wakefield (NYSE: CWK), a leading global real estate services firm, has been named the world’s best commercial real estate advisor and consultant overall for the fifth consecutive year by Euromoney’s 2022 Real Estate Survey.

Nandhini Rad • 30/09/2022

CAN'T FIND WHAT YOU'RE LOOKING FOR?

Get in touch with one of our professionals.
With your permission we and our partners would like to use cookies in order to access and record information and process personal data, such as unique identifiers and standard information sent by a device to ensure our website performs as expected, to develop and improve our products, and for advertising and insight purposes.

Alternatively click on More Options and select your preferences before providing or refusing consent. Some processing of your personal data may not require your consent, but you have a right to object to such processing.

You can change your preferences at any time by returning to this site or clicking on Privacy & Cookies.
MORE OPTIONS
AGREE AND CLOSE
These cookies ensure that our website performs as expected,for example website traffic load is balanced across our servers to prevent our website from crashing during particularly high usage.
These cookies allow our website to remember choices you make (such as your user name, language or the region you are in) and provide enhanced features. These cookies do not gather any information about you that could be used for advertising or remember where you have been on the internet.
These cookies allow us to work with our marketing partners to understand which ads or links you have clicked on before arriving on our website or to help us make our advertising more relevant to you.
Agree All
Reject All
SAVE SETTINGS