Kampong Glam conservation shophouses up for sale with $28m price tag

A block of three detached conservation shophouses is up for sale in Kampong Glam with an indicative asking price of about $28 million.

The freehold commercial properties, comprising 32, 34 and 34A Sultan Gate, sit on a land plot of about 7,401 sq ft in size. They are flanked by a public car park on one side and a side lane on the other.

There is also an open terrace adjoining the property that is currently leased to a single tenant, said marketing agents Cushman & Wakefield and Historical Land on Wednesday.

Cushman & Wakefield's executive director of capital markets Shaun Poh said conservation commercial shophouses "remain an attractive investment option" despite the current overall property market slowdown.

This is because they are in limited supply and have proven to be "a highly resilient property class", he added.

Interested buyers can submit expressions of interest until April 23.