Newly-Refurbished Pair of Shophouses Along North Canal Road For Sale by Expression of Interest

Singapore – 1 October 2025 – CBRE and Savills, as joint exclusive marketing agents, are offering for sale a pair of 5-storey shophouses at 30 & 31 North Canal Road. The sale will be conducted via an Expression of Interest exercise which closes on Wednesday, 12 November 2025 at 3pm.

Commanding high-visibility road frontage along the busy North Canal Road in District 1, the asset is located within the Upper Circular Road Conservation Area and sits on a land area of approximately 3,208 square feet. It is zoned for “Commercial” use with a Plot Ratio of 4.2 under the Urban Redevelopment Authority (URA) Master Plan 2019.

The conservation commercial asset underwent extensive addition and alteration (A&A) works, which involved a complete revamp of its interiors, M&E services, and the addition of a new 5-storey rear extension with mezzanine to maximise its allowable plot ratio. In addition, it has just had its land tenure topped up to 99 years from 2024.

Following the completion of the enhancements and expansion, it now has a total gross floor area (GFA) of approximately 13,472 square feet and features modern specifications, regular and efficient floor plates, lift access on all floors, and a spacious open roof terrace overlooking Hong Lim Park and the city skyline.



Mr. Michael Tay, Deputy Managing Director and Head of Capital Markets, CBRE Singapore says, “The asset presents an exceptional opportunity to invest into a prime location where sizable shophouse assets of similar profile are extremely limited in supply. Having already undergone a high-quality refurbishment, it offers excellent specifications and requires minimal future capital expenditure for the incoming buyer. Coupled with its outstanding road frontage and visibility, it is well-positioned to appeal to future occupiers seeking to establish a strong brand presence for their business.”

Located within the Central Business District (CBD) and strategically flanked by two of Singapore’s most popular lifestyle destinations – Boat Quay and Clarke Quay, the Upper Circular Road Conservation Area has consistently attracted businesses of various trades over the years. It is home to several acclaimed restaurants and bars, boutique hotels, and fitness studios, amongst others, offering future occupiers at 30 & 31 North Canal Road immediate access to a wide range of F&B and lifestyle amenities at its doorstep. The asset also boasts excellent connectivity being situated within a short 5-minute walk to Clarke Quay, Chinatown, and Raffles Place MRT stations, offering seamless access to four MRT lines.

Ms. Yap Hui Yee, Executive Director, Investment Sales & Capital Markets, Savills Singapore adds, “Brand-new standalone commercial buildings in the CBD are exceedingly rare, especially at a palatable quantum. 30 & 31 North Canal Road offers a one-of-a-kind opportunity for investors and occupiers to secure a prestigious CBD address with full naming and signage rights. Surrounded by Grade A offices, upscale dining, and lifestyle offerings, the property boasts unblocked views, modern specifications, and efficient layouts - making it an ideal flagship location. With such limited supply in the market, this represents a compelling chance to own a brand new commercial building in Singapore’s most coveted business district.”

The guide price for the asset is S$45 million, which translates to approximately S$3,340 per square foot on its GFA. As this is a commercial property, foreigners and companies are eligible to purchase and there will be no Additional Buyer's Stamp Duty (ABSD) or Seller's Stamp Duty (SSD) applicable on the transaction.