Freehold Corner Shophouse Along Balestier Road For Sale Via Expression Of Interest

Singapore, 10 July 2024 – CBRE, as the exclusive marketing agent, is pleased to offer for sale 532 Balestier Road, a two-storey corner shophouse located in the heart of Balestier. The sale will be conducted via an Expression of Interest exercise which closes on Thursday, 15 August 2024 at 3pm.

Commanding dual road frontage of more than 30 metres at a prominent intersection along Balestier Road, the asset sits on a land area of approximately 2,428 square feet and is zoned for “Commercial & Residential” use with a Plot Ratio of 3.0 under the Urban Redevelopment Authority (URA) Master Plan 2019. It has an existing gross floor area (GFA) of about 2,770 square feet, with both floors approved for commercial use and currently occupied by a lightings showroom.



Mr Clemence Lee (利伟强), Executive Director of Capital Markets, Singapore at CBRE says, “Corner properties like 532 Balestier Road are rare and typically very tightly held due to their excellent attributes such as outstanding visibility, flexibility to incorporate more openings to allow more natural lighting, and versatility in space planning - which translate to superior rental command. It will also greatly appeal to potential owner-occupiers seeking to establish a strong presence for their flagship store.”

The guide price is S$8 million, which translates to approximately S$2,888 per square foot on its existing GFA. Based on its gross plot ratio of 3.0, there is potential for the incoming purchaser to also consider carrying out addition and alteration (A&A) works or a redevelopment to increase its total GFA to 7,285 square feet. At the indicated guide price, the land rate is approximately S$1,098 per plot ratio.

Balestier is an established city fringe enclave that is characterised by its vibrant heritage shophouses and diverse offerings of specialised retail trades, famous eateries, and entertainment venues. It is also home to several private residential apartments, retail malls, hotels, and industrial buildings. Nestled in the heart of Balestier’s buzz, 532 Balestier Road is strategically located next to Zhongshan Mall – a key anchor in this bustling neighbourhood.

Mr Lee adds, “532 Balestier Road presents an excellent opportunity for investors who are looking to buy freehold commercial properties in a prime location with exceptional potential for capital appreciation. Supported by a huge and diverse catchment and a plethora of amenities in its immediate vicinity, it will be suitable for various potential uses including amongst others, restaurant, café, clinic, gym, co-living and student hostel, subject to the authorities’ approvals.”

The city fringe property is seamlessly connected to the city centre and several other key areas in Singapore via a comprehensive transportation network that includes major roads and expressways such as Thomson Road, Central Expressway (CTE), and Pan-Island Expressway (PIE), as well as ample public bus services. It is also within a 10-minute walk to Novena MRT station.