Superb Riverside development opportunity 364sqm multi-unit for sale | Daun Penh

Details

Located in a sought-after area near Norodom Boulevard in the Riverside District in Daun Penh, this large multi-unit development opportunity is now available for sale.

It is a series of interconnected spaces comprised of 2 soft title properties (totaling 364sqm) with direct access to 2 parallel streets with a central atrium.

The main staircase is original, wide, light and clean. The remaining building elements are solid, regularly maintained and have no water ingress.

Given the dimensions of the property, this could easily be converted into a very large dwelling (s) and/or offices.

Being a short distance to the Riverfront, the broader Riverside and financial districts, and Central Market, the development opportunity is there.

It is not often opportunities like this come up so close to Norodom Boulevard and the financial centre of Phnom Penh.

Original ID: DP3.A8

Riverside: the real downtown

Day and night Riverside is seldom quiet. It is generally considered the real downtown Phnom Penh where the historically significant parts of the city are located.

These include Wat Phnom (after which the capital city is named), Phsar Chas, Phsar Kandal, Chey Chumneas and Chaktomuk and the Royal Palace and National Museum of course!

Preah Sisowath (honoring King Sisowath 1904 to 1927 reign) is the avenue / boulevard running along the riverfront.

It starts at the Buddhist Institute near Sothearos Boulevard. Then continues north to the Japanese Bridge where it becomes National Road 6 leading to Battambang.

Generations of days gone by have left their footprints from Angkor kings to French colonists to UN troops.

Riverside witnesses the confluence of the Mekong, Tonle Sap and Bassac rivers and where the Water Festival is best viewed each November.

It is always stunning, especially at sun up and sundown.

In Riverside, there is a wide selection of restaurants, wellbeing services, hotels, shops and bars aimed at tourists.

Among the restaurants, you will find good selections – German, Italian, French, Chinese, Korean, Japanese, Vietnamese, Thai, Indonesian and Malaysian.

A reflection on Riverside development – art, markets, massages and 5 star hotels

Street 172 is punctuated with $3 massage joints and bars occupied by grey faces framed with light grey hair.

Yet, just around the corner, Street 178 is now arguably the rising art gallery district of Phnom Penh with the University of Fine Arts a stone’s throw away.

Friends Café has made a bold statement and the Mansion House seems to be waiting for reincarnation.

Now the Hyatt has opened its doors to the Jet set, it may well be a different designer-schmick precinct to what is currently now.

In fact, when you look up along 172, the standard of shophouses is somewhat ‘better’ than in other parts of the city: it could be the rising star of Daun Penh and Riverside.

In the streets around Riverside, there is a sense that there are too many hostess bars, each vying for a shifting slice of the tourist and expat pie.

Rents will rise with the inevitable escalation of land values and the ROI of each vendor’s patch will become more and more critical as the clock ticks.

Looking at Phsar Kandal and the open block where Prey Sar prison once sat. one can’t help but wonder what’s coming next.

Given its proximity to Riverside and the 172 and 178 ‘sweet spot’, maybe there is something special waiting in the sidelines, something for an inspired generation of architects and artists.

Good guide to investing in Cambodia

Here is a good guide to investing in Cambodia that should steer you away from total financial disaster.

The real estate market in Cambodia is extremely varied, more so than most countries, which can make investing either a smooth journey or a rocky one.

What separates a successful from unsuccessful investor is not pure luck, as many think, but the ability to recognise and avoid mistakes.

Investing in Cambodia is no different, so here are some things to consider before you part with your hard earned cash.

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