# Three freehold retail units on Greenwood Avenue in Bukit Timah for sale at $18.5 mil

- **Source:** EdgeProp Singapore
- **Published:** 2026-08-19T08:00:00.000Z
- **Author:** Kalynskye Adrian
- **Original:** https://www.edgeprop.sg/property-news/three-freehold-retail-units-greenwood-avenue-bukit-timah-sale-185-mil
- **Topics:** Private Residential, Commercial & Industrial, Transactions & Deals

## Featured rationale

Guide prices around 10% to 18% below the latest benchmark may attract investors and owner-occupiers amid scarce supply and anticipated demand from Turf City’s future homes.

## AI summary

Three fully tenanted freehold retail units on Greenwood Avenue are offered collectively for $18.5 million or individually from $6 million to $6.5 million.

## Original article

Three freehold ground-floor retail units at 20, 26 and 28 Greenwood Avenue in Bukit Timah are on the market with a combined guide price of $18.5 million.

CBRE, the exclusive marketing agent for the asset, said buyers have the option to purchase them individually or as a portfolio.

The property at 20 Greenwood Avenue has a guide price of $6.5 million, or $4,224 psf on its strata area of 1,539 sq ft.

Read also: Prime beachfront development site in Penang’s Batu Ferringhi hits market for RM140 mil

The properties at 26 and 28 Greenwood Avenue are neighbouring units. Spanning 1,442 and 1,475 sq ft, they are priced at $6 million apiece, which works out to $4,161 psf and $4,068 psf, respectively.

All three units are currently fully tenanted.

The properties are situated within the Hillcrest Park landed enclave, where ownership of commercial units “remains highly exclusive”, with just 27 units across the entire estate, said CBRE.

Despite this tightly held supply, it has drawn a strong mix of established operators — from F&B names such as Baker & Cook, Peperoni Pizzeria, Greenwood Fish Market and Bacaro, to supermarket chains like Cold Storage and FairPrice Xpress.

Based on caveats lodged, the most recent commercial property transaction at Greenwood Avenue was for a 1,539 sq ft unit that changed hands for $7.1 million ($4,613 psf) in July this year.

Following that transaction, the guide price of $6 million to $6.5 million per unit for the properties up for sale presents a discount of approximately 10% to 18% to the latest market benchmark, said Clemence Lee, executive director for capital markets at CBRE Singapore.

He added: “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”.

Read also: Average strata office prices rise despite fewer deals, while retail activity slows

With Turf City set to add up to 20,000 new homes, demand for F&B and lifestyle offerings in enclaves like Hillcrest Park is set to grow — while freehold commercial space in Bukit Timah remains scarce, with no known new supply planned.

This mix of rising demand and fixed supply makes it a compelling bet for investors seeking rental resilience and long-term capital appreciation, said Lee.

The units are up for sale through an expression of interest exercise that will close at 3pm on Sept 23.

## Chinese translation

> Translation model: grok_cli

### 武吉知马Greenwood Avenue三间永久地契零售单位以新币1850万元求售

位于Hillcrest Park的底层零售单位可整体或分开出售，单价介乎新币600万至650万元。

武吉知马Greenwood Avenue 20、26及28号三间永久地契底层零售单位现正挂牌，合计指导价为新币1850万元。

该资产的独家营销代理CBRE表示，买家可选择单独购买或整批购入。

Greenwood Avenue 20号物业的指导价为新币650万元，按1539平方英尺的分层面积计算，相当于每平方英尺新币4224元。

另读：槟城Batu Ferringhi黄金海滨发展地段以马币1.4亿元挂牌

Greenwood Avenue 26号与28号为相邻单位，面积分别为1442及1475平方英尺，各以新币600万元定价，折合每平方英尺分别为新币4161元及4068元。

三间单位目前均已悉数租出。

这些物业位于Hillcrest Park有地住宅围区，CBRE表示，该处商业单位的业主身份“依然高度稀缺”，整个园区仅有27个单位。

尽管供应紧俏，该区仍吸引了强大的成熟业者组合——从Baker & Cook、Peperoni Pizzeria、Greenwood Fish Market及Bacaro等餐饮品牌，到Cold Storage与FairPrice Xpress等超市连锁。

根据已登记的交易记录，Greenwood Avenue最近一宗商业物业成交，是一间1539平方英尺单位于今年7月以新币710万元（每平方英尺新币4613元）转手。

CBRE新加坡资本市场执行董事Clemence Lee表示，在该笔交易之后，此次待售物业每单位新币600万至650万元的指导价，相对最新市场基准约有10%至18%的折让。

他补充说：“基于这一价值，我们预期将吸引高净值投资者和家族办公室的强烈兴趣，以及精品零售商和定制餐饮运营商等自用买家，他们希望在这个备受追捧的永久地契围区站稳脚跟。”

另读：分层办公平均价格在成交减少下仍上升，零售活动放缓

随着Turf City料将新增多达2万套新住宅，像Hillcrest Park这类围区对餐饮与生活方式配套的需求料将增长——而武吉知马的永久地契商业空间依然稀缺，目前未有已知的新增供应计划。

Lee表示，需求上升与供应固定的组合，使其成为寻求租金韧性与长期资本增值的投资者的诱人选择。

这些单位通过意向书程序出售，将于9月23日下午3时截止。