Club Street and Yio Chu Kang Road shophouses for sale at $20.4 mil

August 15, 2023

A 999-year leasehold shophouse at 93 Club Street is on the market for $12.8 million, as well as a freehold shophouse at 36 Yio Chu Kang Road for $7.6 million, according to CBRE, which is marketing the properties. The two properties can be acquired individually or collectively, and will be offered through an expression of interest exercise that closes on Sept 20.

The shophouse at 93 Club Street is a conservation shophouse in the Chinatown-Telok Ayer Conservation Area. The area is close to three MRT stations — Maxwell on the Thomson-East Coast Line, Telok Ayer on the Downtown Line (DTL), and Chinatown Interchange on the DTL and North-East Lines.

The three-storey property sits on an 801 sq ft plot that is zoned “commercial” under the master plan. It has an approximate built-up area of 2,787 sq ft and the ground floor has been approved for F&B use.

Meanwhile, 36 Yio Chu Kang Road is a single-storey corner shophouse in the Kovan neighbourhood. The property sits on a 3,479 sq ft plot that is zoned “Commercial and Residential” with a plot ratio of 3.0 under the master plan.

The shophouse has a total floor area of 2,320 sq ft, and it is fully leased to a children’s swimming school. This capitalises on the large residential catchment in the vicinity. Commercial spaces in the neighbourhood are sought after by F&B businesses, convenience stores, healthcare centres, and education centres.

Nearby carpark space is available along the side road leading to the shophouse, and there are public carparks at Serangoon Stadium, which is opposite the road.

“Both 93 Club Street and 36 Yio Chu Kang Road have their own distinct appeal, presenting excellent prospects for keen investors looking to acquire more freehold or 999-year leasehold assets,” says Clemence Lee, executive director of capital markets, Singapore, at CBRE.

He adds that the 93 Club Street offers owner-occupiers a trophy asset to house their operations such as family offices, which have increasingly picked the Club Street/Ann Siang Hill enclave as a headquarter location.

The shophouse at 36 Yio Chu Kang Road offers a great opportunity for investors who are looking to buy prime suburban commercial properties, says Lee, adding: “Corner commercial spaces like 36 Yio Chu Kang Road are highly sought-after trophy assets and tightly held.”