Three Highly Exclusive Freehold Retail Shops at Greenwood Avenue For Sale via Expression of Interest

Singapore – 19 August 2026 – CBRE, as the exclusive marketing agent, is pleased to offer for sale three freehold ground-floor retail units (“the Properties”) at 20, 26 and 28 Greenwood Avenue, in the heart of the affluent Bukit Timah neighbourhood. The sale will be conducted via an Expression of Interest exercise, which will close on Thursday, 23 September 2026, at 3pm.
 
Located within the heart of Hillcrest Park landed enclave in the heart of Bukit Timah, the retail units enjoy a coveted District 10 address in one of Singapore's most sought-after residential neighbourhoods. The wider Bukit Timah district is home to approximately 86,000¹ residents and is further supported by a concentration of well-established educational institutions. Notable schools in the vicinity include Raffles Girls' Primary School, National Junior College, Nanyang Girls' High School, Hwa Chong Institution and Hwa Chong Junior College, together forming a substantial and captive catchment for the precinct's retail and F&B offerings.

Ownership of commercial units within the enclave remains highly exclusive, with just 27 units across the entire Hillcrest Park estate. This tightly held supply has nonetheless attracted a strong line-up of established operators, including Baker & Cook, Peperoni Pizzeria, Greenwood Fish Market, Shinn Yuu, Bacaro, Barrio Spanish Restaurant, La Braceria Pizza & Grill, Craftsmen Coffee, Pet Master, Cold Storage and FairPrice Xpress.

The retail units are currently fully tenanted, providing immediate rental income to investors. They may be purchased individually or as a portfolio, with a combined indicative value of approximately S$18.5 million. As freehold commercial assets, the Properties are open to foreign buyers, with no Additional Buyer’s Stamp Duty (ABSD) or Seller’s Stamp Duty (SSD) payable on purchase.

Details of the Properties:

Address	Area (sq ft)	Guide Price (S$)
20 Greenwood Avenue	1,539	$6,500,000
26 Greenwood Avenue	1,442	$6,000,000
28 Greenwood Avenue	1,475	$6,000,000
		$18,500,000

Pictured above: 20 Greenwood Avenue


Pictured above: 26 and 28 Greenwood Avenue

The sale comes amid growing momentum surrounding the redevelopment of the former Bukit Timah Turf City, a 176-hectare site located just minutes from Greenwood Avenue. Under URA's Draft Master Plan 2025, the precinct is earmarked for 15,000 to 20,000 new public and private homes over the next 20 to 30 years, including Bukit Timah's first HDB flats in almost 40 years, alongside a wave of new condominium developments. The car-lite, heritage-led district will retain 22 of the 27 heritage structures currently under study, including the iconic Grandstand, and will be served by the existing Sixth Avenue MRT station as well as the upcoming Cross Island Line stations at Turf City and King Albert Park, both targeted for completion by 2032.

Mr Clemence Lee (利伟强), Executive Director, Capital Markets, Singapore at CBRE, commented, "With Turf City set to deliver up to 20,000 new public and private homes over the coming years, we expect a substantial and sustained expansion of the resident catchment within a short drive or MRT ride of Greenwood Avenue This is expected to support stronger demand for F&B and lifestyle offerings in established enclaves such as Hillcrest Park. Freehold commercial space in Bukit Timah has always been scarce, and there is no known new supply planned for the vicinity. This combination of rising demand and a fixed supply of shopfronts is a compelling proposition for investors seeking rental resilience and long-term capital appreciation."

“Following the recent $7.1 million caveat at 24 Greenwood Avenue, our guide price of $6 million to $6.5 million per unit presents a rare opportunity to acquire a comparable asset at an approximate 10% to 18% discount to the latest market benchmark. Given this value, we anticipate strong interest from high-net-worth investors and family offices, as well as owner-occupiers such as boutique retailers and bespoke food and beverage operators who are looking to secure a foothold in this highly sought-after freehold enclave.”

The Properties occupy a well-connected position within an established residential precinct and is enveloped by reputable educational institutions. They are within walking distance of Tan Kah Kee MRT station on the Downtown Line and enjoy excellent connectivity via the Pan-Island Expressway (PIE) and Central Expressway (CTE). Future transport infrastructure serving the redeveloped Turf City precinct is also expected to further enhance accessibility to the area.

¹ Source: Department of Statistics Singapore, Resident Population June 2025