Piccadilly Galleria Ground-Floor Retail Podium Relaunched for Sale via Expression of Interest (EOI)

Singapore, 27 May 2025 – Knight Frank Singapore and CBRE are pleased to announce the relaunch of Piccadilly Galleria, the ground-floor retail podium of the fully sold Piccadilly Grand residential development, for sale via Expression of Interest (EOI). The EOI exercise will commence on 27 May 2025 and close on 22 July 2025.

Piccadilly Galleria enjoys direct access to Farrer Park MRT station, located just minutes’ drive from Orchard Road and key MRT interchange stations including Dhoby Ghaut, Raffles Place and Bugis. The development comprises 15 units, including one childcare, four retail and ten F&B approved units. The F&B units will enjoy prominent street frontage along Gloucester Road whilst the childcare and retail units enjoy a 150m long street frontage along Race Course Road. A dedicated commercial drop-off point will serve visitors of Piccadilly Galleria from the new Northumberland Road.

Located at 1 Northumberland Road within the established Farrer Park precinct, the retail podium space is part of a city fringe integrated development that includes 407 residential units. It is also poised to benefit from future resident demand driven by approximately 1,800 upcoming HDB flats slated for completion by 2028, as part of URA’s rejuvenation plans for the Farrer Park Field.

These plans include new sports and recreational facilities, such as the Farrer Park Sports Centre and will span across multipurpose sporting spaces that cater to community football, table tennis, gym and fitness studio, sheltered and outdoor swimming pools. The precinct is poised to serve the needs of the wider community in the area, reinforcing the area’s appeal as a vibrant live-work-play hub.

Leasing plans are currently underway, which targets a mix of F&B trade, services and daily essentials for the immediate residential catchment. The asset has successfully secured a tenant for the childcare centre, which occupies approximately 27% of the retail podium’s net lettable area (NLA), or 5,832 square feet (sf).

This relaunch follows the initial marketing campaign in October 2024 and is set to attract buyers looking to acquire brand new development assets with future rental upside. The guide price will be $67.5 million, reflecting approximately $3,350 psf on the NLA.



Artist’s impression 
Source: City Developments Limited & MCL Land Limited

Mr. Melvin Chay (谢立达), Senior Director, Capital Markets, Knight Frank Singapore, (高级董事, 资本市场部, 莱坊), commented, “The surrounding retail landscape has seen positive transformation, with City Square Mall having completed a major asset enhancement initiative that has enhanced the precinct’s overall vibrancy, making the location even more attractive to tenants and shoppers. The updated pricing makes Piccadilly Galleria even more compelling, particularly as demand returns to the retail strata market amidst improving sentiment and easing interest rates.”

Mr Clemence Lee (利伟强), Executive Director, Capital Markets at CBRE Singapore (资本市场高级董事, 世邦魏理仕) added, "During our initial marketing campaign, we received substantial interest from a diverse range of buyers, including boutique real estate funds, family offices, high-net-worth individuals, local companies, and owner-occupiers. We believe the recent updates will make the opportunity even more compelling for buyers. Recent months have shown a notable increase in demand for suburban and city-fringe retail assets in Singapore, which are viewed as defensive investments with strong growth potential. We are optimistic about the upcoming EOI process and anticipate it will yield favourable results." 

Piccadilly Galleria’s excellent frontage, strategic city fringe location, and newly-secured anchor tenant in the childcare sector present an exceptional opportunity for investors seeking income stability and long-term value.

The EOI exercise commences 27 May 2025, and closes on 22 July 2025, 3pm.