Prime Corner Commercial Building in Kallang With Strategic Redevelopment Potential for Sale

Singapore – 16 March 2026 – CBRE and Cushman & Wakefield, as joint exclusive marketing agents, are pleased to announce the sale of 535 Kallang Bahru, a prominent three-storey commercial building in Kallang that presents strategic value-add or redevelopment potential. The sale will be conducted through an Expression of Interest (EOI) exercise, which closes on Wednesday, 22 April 2026, at 3pm.

Sitting on a regular land plot of approximately 22,283 square feet, the subject property has a total existing gross floor area of around 36,207 square feet spanning three levels. It is currently nearly fully occupied by multiple tenants, including a restaurant, fitness centre, service centre, and offices, providing immediate rental income. Under the URA Master Plan 2025, it is zoned for “Commercial” use, and investors could potentially unlock significant value by increasing the gross floor area to a maximum of 66,850 square feet, reflecting a gross plot ratio of 3.0, subject to relevant authorities’ approvals. 

535 Kallang Bahru is located in the heart of the mature and established Geylang Bahru precinct within the city-fringe Kallang district. Standing prominently at the junction of Kallang Bahru and Geylang Bahru, the corner standalone building enjoys dual street frontage and exceptional visibility. It is also conveniently situated at the doorstep of Geylang Bahru MRT station on the Downtown Line and well-served by major expressways (PIE and KPE) and a robust bus network, ensuring easy access to the CBD and the rest of Singapore.



Mr Joshua Giam, Director of Capital Markets, Singapore at CBRE says, “Given its favourable site attributes and strategic location within close proximity to established business clusters and of convenient reach to the city centre, 535 Kallang Bahru represents a versatile site offering significant upside potential through creative repositioning or a full-scale redevelopment. Subject to authorities’ approvals, it would be ideal for a variety of commercial uses such as corporate headquarters, medical centre, commercial school and childcare centre, amongst others.”

Kallang is poised for further growth in the coming years, driven by the government’s ongoing rejuvenation plans for the area. Surrounding 535 Kallang Bahru are several land plots that have been rezoned for residential use and are slated for redevelopment into new homes. These include the Kallang Basin Swimming Complex (which closed last year), the former Victoria School campus along Geylang Bahru Lane, and existing industrial estates such as Geylang Bahru Industrial Estate and Kallang Distripark. 

Ms Sophia Lim, Director of Capital Markets, Singapore at Cushman & Wakefield added, “Kallang is entering a new growth phase, underpinned by multiple redevelopment initiatives including new residential projects, the transformation of former institutional and industrial sites, and the development of Gourmet Xchange along Kallang Way. 535 Kallang Bahru represents a strategic investment play, combining stable in-place income with the potential to optimise and reposition the asset over time to benefit from the precinct's ongoing transformation. This offering presents a timely opportunity to secure a foothold ahead of the precinct’s next phase of growth.” 

Also within close proximity are major upcoming developments such as Kampong Bugis, which will be transformed into a waterfront, car-lite residential precinct with around 4,000 dwelling units, and the Old Kallang Airport site, envisioned as a future mixed-use lifestyle and recreational hub.

535 Kallang Bahru is offered at a guide price of S$55 million, which translates to approximately S$1,519 per square foot on its existing gross floor area or S$823 per square foot based on a maximum allowable gross floor area of 66,850 square feet. 

Interested parties may contact CBRE and Cushman & Wakefield for more information.