# $38 mil price tag on Mohamed Sultan Rd commercial, serviced apartment buildings - **Source:** EdgeProp Singapore - **Published:** 2026-09-23T04:09:49.000Z - **Author:** EdgeProp Singapore - **Original:** https://www.edgeprop.sg/property-news/38-mil-price-tag-mohamed-sultan-rd-commercial-serviced-apartment-buildings - **Topics:** Private Residential, Government & Policy, Investment & Capital Markets ## Featured rationale Their immediate rental income, SA1 approval and scarce freehold River Valley location may attract investors seeking turnkey assets with limited near-term capital expenditure. ## AI summary Two fully tenanted freehold mixed-use buildings at 22 and 23 Mohamed Sultan Road are offered at about $38 million, or $2,621 psf. ## Original article A freehold mixed-use development with approval for Serviced Apartment (SA1) use has been put on the market with a guide price of about $38 million, or around $2,621 psf on the existing floor area of 14,497 sq ft. Located at 22 and 23 Mohamed Sultan Road, the assets comprise a serviced apartment block and a commercial building, sitting on separate land parcels with a combined land area of about 4,221 sq ft. Both are fully tenanted and able to provide stable and immediate rental income to incoming investors, according to exclusive marketing agent CBRE in a Sept 23 media release. Read also: Lyf Chinatown Singapore pairs social living with heritage in city centre — what to expect from a stay “The assets are well-maintained and in excellent condition, offering a turnkey investment with minimal near-term capital expenditure required,” said Clemence Lee, CBRE executive director of capital markets, Singapore. Co-living operator Cove is currently managing apartments, lofts and rooms with shared amenities at both properties. The rear block, at 22 Mohamed Sultan Road, is an eight-storey development approved for SA1 use, housing serviced apartment units on levels two to eight. It occupies a 3,075 sq ft site zoned for residential use with a gross plot ratio of 3.8 based on the URA Master Plan 2025. The front block, at 23 Mohamed Sultan Road, is a four-storey building with a basement. It has a shop in the basement, restaurant on the ground floor, and serviced apartments from levels two to four. That block sits on a land plot spanning 1,146 sq ft, zoned for commercial use. Online checks show that Bad Habits, which serves New York-style pizzas by the slice, occupies the ground floor of the front block. Read also: 362 Holland Road to be turned into co-living residences as Trans-Orient wins SLA tender Lee noted that such freehold, income-producing mixed-use assets in River Valley are tightly held, while the Singapore River-Robertson Quay district is also undergoing renewal. The properties are a seven-minute walk to Fort Canning MRT Station and an eight-minute drive to Raffles Place in the CBD and the Orchard Road shopping district. The sale will be conducted via an expression of interest exercise, which closes at 3pm on Oct 28. Check out the latest listings for River Valley properties ## Chinese translation > Translation model: openai_codex_cli ### Mohamed Sultan Road 商业与服务式公寓楼标价新币3,800万 位于 River Valley 的永久地契资产已全部出租，内设服务式公寓、一家餐厅和一家商店。 一个获准作服务式公寓（SA1）用途的永久地契混合用途发展项目已推出市场，指导价约为新币3,800万，按现有楼面面积14,497平方英尺计算，约为每平方英尺新币2,621。 该资产位于 Mohamed Sultan Road 22号和23号，包括一栋服务式公寓楼和一栋商业楼，坐落在两个独立地块上，合计土地面积约4,221平方英尺。 独家营销代理 CBRE 在9月23日的媒体发布中表示，两项资产均已全部出租，可为进入的投资者提供稳定且即时的租金收入。 延伸阅读：Lyf Chinatown Singapore 将社交式居住与市中心的历史底蕴结合——入住可期待什么 “这些资产维护良好，状况极佳，可提供一项交钥匙投资，近期所需资本开支很少，”CBRE 新加坡资本市场执行董事 Clemence Lee 表示。 共居运营商 Cove 目前正在管理两处物业内配备共享设施的公寓、阁楼和房间。 后座位于 Mohamed Sultan Road 22号，是一栋获准作 SA1 用途的八层发展项目，二至八层为服务式公寓单位。 该物业占地3,075平方英尺，按 URA Master Plan 2025 划为住宅用途，总地积比率为3.8。 前座位于 Mohamed Sultan Road 23号，是一栋带地下室的四层建筑。其地下室设有商店，底层为餐厅，二至四层为服务式公寓。 该座落在一幅面积1,146平方英尺、划为商业用途的地块上。 网上查询显示，按片售卖纽约风格披萨的 Bad Habits 占用了前座底层。 延伸阅读：Trans-Orient 赢得 SLA 招标后，362 Holland Road 将改建为共居住宅 Lee 指出，River Valley 这类永久地契、可产生收入的混合用途资产由业主紧握不放，而 Singapore River-Robertson Quay 区域也正在更新。 这些物业步行七分钟可达 Fort Canning 地铁站，驾车八分钟可达 CBD 的 Raffles Place 和 Orchard Road 购物区。 出售将通过意向书征集进行，截止时间为10月28日下午3点。 查看 River Valley 物业的最新挂牌