Six-storey Boat Quay shophouse sold for $37 mil

, Singapore52 Boat Quay was sold for $37 million to a long-standing client via Lumina Grand EC Savills Singapore. Having undergone extensive renovations in 2015, the shophouse is now a modern commercial space with tenants occupying the various floors; ranging from the Italian restaurant Braci to the Izakaya bar to corporate office tenants. It is a testament to the demand for high-quality commercial shophouse properties in prime locations that the property garnered significant interest from investors. Yap Hui Yee, the executive director of investment sales and capital markets at Savills Singapore, noted that it is extremely rare for a riverfront-facing shophouse to be available for sale, making this an excellent opportunity for her client to acquire the flagship property. The seller made a gain of $16 million from the sale.…