Prime inner city land ripe for development near BKK 1 for sale | Daun Penh Independence monument

Details

Abode presents this freestanding property near Independence Monument for sale on prime inner city land (approx. 340sqm) ripe for 10+ floor development.

Perfect for complete refit or demolition to make way for a luxury hotel, condo, office or mixed use development.

Prime inner city property features:

• HARD TITLE
• $8,500/sqm (neg)
• Triple width
• In the very heart of Phnom Penh
• Close to Independence Monument
• Near BKK 1 and Riverside
• Great access
• Secure area near government buildings and embassies
• Developer’s dream

Original ID: DP5.P1

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Daun Penh: the real downtown

Day and night Riverside, Daun Penh, is busy. It is probably the real downtown Phnom Penh where the oldest parts of the city are located. I am referring to Wat Phnom, 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 north 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 personal reflection on Riverside

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.

This is the dichotomy of Riverside and the attraction of opposites that makes it such an interesting place!

Friends Café has made a bold statement and the Mansion House seems to be waiting for reincarnation. When the Hyatt opens 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 the riverfront and the 172 and 178 ‘sweet spot’, maybe there is something special waiting in the sidelines, something for the inspired new generation of architects and artists.

As of last week, digging has started. My guess is a shopping centre, possibly with apartments too!

About BKK:

Boeung Keng Kang (BKK) 1 bordered by Sihanouk, Norodom, Mao Tse Tung and Monivong Boulevards is a popular area. It is the centre of Phnom Penh for its banks, hotels, restaurants, shops and bars. It is the place for business deals and seen as the ‘foreign capital’ for its cosmopolitan nature.

Here are the embassies of Switzerland, Bulgaria, Brunei and Sweden and various NGOs and international companies. BKK also has many schools offering world class education.

BKK 1 is pricey, but attractive for business on streets 278, 282, 63 and 51. Apartments and hotels are in the mid to upper range due to location and quality.

BKK market is located offers a range of goods including fresh food, clothes, jewelry, money exchanges and household goods. Augmenting the market is a wide selection of international F + B options including coffee shops and bakeries.

After dark the streets are alive with bars, clubs, hotel rooftops and restaurants open for punters. Things are pricier but you won’t want for much more. BKK has pretty much everything.

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About Phnom Penh property

Phnom Penh real estate market in 2021

About BKK:

Boeung Keng Kang (BKK) 1 bordered by Sihanouk, Norodom, Mao Tse Tung and Monivong Boulevards is a popular area. It is the centre of Phnom Penh for its banks, hotels, restaurants, shops and bars. It is the place for business deals and seen as the ‘foreign capital’ for its cosmopolitan nature.

Here are the embassies of Switzerland, Bulgaria, Brunei and Sweden and various NGOs and international companies. BKK also has many schools offering world class education.

BKK 1 is pricey, but attractive for business on streets 278, 282, 63 and 51. Apartments and hotels are in the mid to upper range due to location and quality.

BKK market is located offers a range of goods including fresh food, clothes, jewelry, money exchanges and household goods. Augmenting the market is a wide selection of international F + B options including coffee shops and bakeries.

After dark the streets are alive with bars, clubs, hotel rooftops and restaurants open for punters. Things are pricier but you won’t want for much more. BKK has pretty much everything.