Conserved 4-Storey Commercial Shophouse at 257 Outram Road For Sale Via Expression Of Interest

Singapore, 20 March 2025 – CBRE, as the exclusive marketing agent, is offering for sale a freehold 4-storey shophouse at 257 Outram Road. The sale will be conducted via an Expression of Interest exercise which closes on Wednesday, 16 April 2025, at 12pm.

Situated along Outram Road, the freehold asset sits on a site of approximately 1,531 sq ft and has an estimated Gross Floor Area (GFA) of 4,600 sq ft. Held under a freehold tenure, this opportunity is ideal for owner-occupiers or investors seeking stable rental income and further capital growth. The 4-storey shophouse has been refurbished in 2021 and is currently tenanted to a pet care service provider on the ground floor and an established co-living operator from levels 2 to 4.

Strategically located within the Tiong Bahru conservation area, the asset is located right around the corner of Tiong Bahru Market. This area is one of Singapore’s oldest residential neighbourhoods and is known for its pre-war Art Deco architecture HDB flats, blending historical charm with modern living. Through numerous rejuvenation and gentrification projects, the estate has become home to hipster cafes, quirky boutiques, and sleek restaurants. It is now abuzz with locals and tourists seeking diverse food options or an immersion in Tiong Bahru’s history and culture.

The guide price is S$12 million, which translates to approximately S$2,600 per square foot based on the estimated gross floor area.



Mr Joshua Giam, Associate Director of Capital Markets, Singapore at CBRE, says, “Due to the accessibility and the wide range of amenities the area has to offer, the Tiong Bahru enclave has always been a popular place of residence among the young professionals and expatriates. Both occupancy and rental in the area have been strong and stable over the years. Based on the asking price, incoming buyers can expect a gross yield of approximately 3.5% which is considered very attractive as most other freehold shophouses offer approximately 2.5%.”

Freehold shophouses in the area are hard to come by as most properties in the area are public housing held under Housing Development Board (HDB).

Mr Giam added, “This asset is ideal for investors looking to capitalise on strong rental upside and capital appreciation. We have been seeing strong demand from family offices and High Net Worth individuals looking for freehold assets in the city. The incoming buyer can also explore different value-add options such as converting to alternative uses such as hotel, hostel, or serviced apartments amongst others, subject to approval from relevant authorities.”

The asset is also well-connected to other key nodes of Singapore, being a 9-minute drive from the Central Business District (CBD) and within close proximity to major expressways such as the Central Expressway (CTE) and Ayer Rajah Expressway (AYE).

Under URA’s Draft Master Plan 2025, Pearl’s Hill located a stone’s throw away is set to offer a unique charm of living in the city with 6,000 new homes progressively developed over the next 10 years. The area is expected to stay rejuvenated as it remains an attractive destination for new F&B, retail, and lifestyle outlets.