CBRE has announced the sale of a conserved 4-storey commercial shophouse at 257 Outram Road, Singapore, through an Expression of Interest exercise closing on 16 April 2025. The property, with a site area of approximately 1,531 sq ft and a Gross Floor Area (GFA) of 4,600 sq ft, is priced at $8.8m (S$12m), translating to about $1,900 (S$2,600) per square foot.
Located in the Tiong Bahru conservation area, the shophouse is currently tenanted by a pet care service on the ground floor and a co-living operator on the upper levels. The area is renowned for its blend of historical charm and modern amenities, making it a sought-after location for young professionals and expatriates. Joshua Giam, Associate Director of Capital Markets at CBRE, highlighted the strong and stable occupancy and rental rates in the area, noting the attractive gross yield of approximately 3.5% for potential buyers.
The property’s strategic location offers excellent connectivity, being just a 9-minute drive from the Central Business District and near major expressways. Additionally, the upcoming developments under the Urban Redevelopment Authority’s Draft Master Plan 2025, including 6,000 new homes at Pearl’s Hill, promise to enhance the area’s appeal further.
Giam emphasised the investment potential, stating, “This asset is ideal for investors looking to capitalise on strong rental upside and capital appreciation.” The shophouse presents opportunities for conversion to alternative uses, subject to approval, making it a versatile investment option.
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