Prime restaurant strata unit in Bukit Timah Plaza for sale at reduced pricing

Singapore, 13 February 2025 – CBRE, as exclusive marketing agent, offers for sale a prime restaurant-approved strata unit located at the basement of Bukit Timah Plaza. The sale will be conducted through an Expression of Interest exercise, which closes on 19 March 2025 at 3pm.

Facing the main central plaza of the retail complex, the unit approved for restaurant usage is on basement two and enjoys excellent visibility with its approximate 20-metre wide frontage. The unit has a total strata area of approximately 3,391 sq ft and is currently fully-leased, which will provide the new owner with stable and immediate rental income.

Bukit Timah Plaza is a mixed-use development that was completed in 1979 and comprises a four-storey retail block and two apartment blocks with 269 residential units named Sherwood Towers. Currently sitting on an island plot site enveloped by the Pan-Island Expressway (PIE), Jalan Anak Bukit, and Upper Bukit Timah Road, Bukit Timah Plaza is one of Singapore’s first comprehensive mixed-use development outside of the city centre in the late 1970s that served as a one-stop retail destination for residents in the vicinity. The mall is one of the most visited malls in Bukit Timah as it houses one of the largest Fairprice Finest supermarkets in Singapore, spanning over 44,000 sf.



Mr Clemence Lee (利伟强), Executive Director, Capital Markets, Singapore at CBRE, says, “Prime suburban retail units continue to be an attractive investment asset class for investors, especially those that come with F&B approval and are well-located in suburban commercial centres like Bukit Timah. Furthermore, the unit is strategically located in the second basement floor of Bukit Timah Plaza, right next to the entrance to Fairprice Finest, one of the anchor tenants of the retail mall. This provides the unit with enhanced visibility and potential for consistent shopper traffic from patrons of the supermarket who can stop by the restaurant for a meal or snack before or after their grocery run. There is also potential for investors to later consider leasing to another restaurant or food court, or for an end-user to operate their own restaurant at the unit.”

He adds, “The flurry of development activity at Beauty World saw the injection of numerous new projects such as the Linq @ Beauty World, The Reserve Residences, Bukit V and 8@BT. More recently, the authorities also unveiled plans on the redevelopment of the former Bukit Timah Market and Food Centre, replacing it with a new integrated development with completion expected to be in late 2029. The new integrated development with about 29,000 sqm will house Bukit Timah Community Club, a new market and hawker centre, an indoor sports hall, and other community amenities. Well-supported by a healthy pipeline of rejuvenation projects that are set to reinforce Beauty World’s position as a dynamic suburban hub, prospective investors are expected to enjoy strong rental and capital appreciation in the mid to long term horizon.”

Bukit Timah Plaza is also surrounded by densely populated residential enclaves that have a total residential population of approximately 37,000 residents, as it sits strategically at the centre of 3 major planning subzones – Anak Bukit, Holland Road, and Swiss Club. Several established educational institutions such as Singapore Institute of Technology (SIT), Singapore Institute of Management (SIM), Ngee Ann Polytechnic, Methodist Girls’ School, and Pei Hwa Presbyterian Primary School are within the vicinity too.

The asset was previously put up for sale at $11 million in Q3 2022. For this sale exercise, the price has been reduced by circa 12% to S$9.8 million which translates to $2,890 psf on the existing strata area. The pricing is in line with the last two transactions located on Basement 2 of Bukit Timah Plaza – #B2-07A was sold at $3,000 psf on strata area in March 2024 and #B2-07/07B was sold at $2,973 psf on strata area in July 2022. Foreigners are eligible to purchase with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) imposed on the commercial property transaction.

Bukit Timah Plaza is well-connected to other parts of Singapore via PIE, and other major arterial roads such as Bukit Timah Road and Clementi Road. Beauty World and King Albert Park MRT Stations are only a short walk away and numerous bus services can be found along Bukit Timah Road.