You might need to tune the chainline, depending on whether you mount the chainring on the inside or outside of the bolt flange. You could use din 988 shims, 100pc for $3, for small adjustments, or chainring spacers for greater thicknesses. Shimano uses the same crank arms for single and double, but changes the shape of the chainring to shift the chainline.

The more important issue is that you select a bottom bracket that matches your crank spindle diameter and length. If you have a 68mm bb shell with BSA threads on a road bike, then use the standard Shimano BSA road bb. You can probably shim the drive side crank arm by 1mm if you want to push the chainline outward if you are mounting the chainring on the inside of the flange. Another thing you could do is use the mtb bb cups with a shaved road water sleeve, which will give you 2mm narrower overall bb width, then add 2mm shims under the drive side bb cup to move the chainline 1mm out while maintaining the same spindle length, or add 3mm shims to the drive side cup for an additional 1mm to the right and 1mm shorter spindle.

If the Shimano crank is still on the old bike, then you can remove the chainrings and measure the distance between the bolt flange and center of the frame, plus the flange thickness to estimate where your chainline will be if you mount the single chainring on either side of the flange. But it would depend also on the thickness of the wolf tooth chainring and whether the teeth are centered or offset to one side.

If you're able to achieve the desired chainline with the chainring on the inside of the flange, then you might consider adding a bashguard to the outside with longer chainring bolts. SRAM makes a truvativ bolt set with 14mm nut length including the head height, although it may be a little bit too long. You could probably use a nut with 9.5 to 11mm length.