Frasers Property buys Cuppage Terrace for $175 mil, strengthens Orchard foothold
The acquisition signals developer confidence in Orchard Road’s rejuvenation and could enable synergies with Frasers Property’s adjacent Centrepoint and 51 Cuppage Road assets.
Frasers Property acquired the fully leased, 17-shophouse Cuppage Terrace for $175 million, below its $250 million 2025 valuation, completing the deal on Aug 31.
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Months after its acquisition of The Centrepoint’s rear plot, real estate firm Frasers Property has scooped up the neighbouring Cuppage Terrace at an agreed property value of $175 million.
It continues to be on the lookout for longer-term opportunities to enhance its Orchard Road assets, in line with broader plans to rejuvenate the shopping district, the real estate investor-developer-operator said in an Aug 31 announcement.
Cuppage Terrace, a cluster of 17 Peranakan-style conservation shophouses in the heart of the Orchard Road precinct, occupies a site measuring 28,986 sq ft and has a total gross floor area of about 34,678 sq ft, excluding the sheltered outdoor refreshment area.
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The 99-year leasehold property was put on the market in January, less than a fortnight after the leasehold rear block of The Centrepoint had been launched for collective sale.
While no guide price was disclosed then, CBRE had noted that the latest valuation in 2025 for Cuppage Terrace was $250 million.
With the acquisition completed on Aug 31, Frasers Property now manages the 17 shophouses and business operations continue as per usual.
Cuppage Terrace houses a vibrant mix of F&B, entertainment and nightlife offerings. Located a five-minute walk from Somerset MRT Station, it sees footfall from both office workers and shoppers in the surrounding retail belt, as well as nearby commercial and residential catchments.
EdgeProp Singapore reported in January that the shophouses are fully leased, and the property was owned by Royal Holdings, a property investment group headed by real estate magnate Raj Kumar, which acquired the asset in 2006.
Following several rounds of refurbishment over the years, Cuppage Terrace has evolved into what CBRE described as "a landmark enclave" in the Orchard area.
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In the Aug 31 announcement, Soon Su Lin, CEO of Frasers Property Singapore, said this deal strengthens the group’s presence along Orchard Road and "reinforces our commitment to shaping a more connected and vibrant precinct".
She added: "Together with the strengthening of ownership of The Centrepoint, this enables us to unlock synergies across adjacent sites and better position our properties to contribute to the ongoing transformation of Orchard Road."
The company had secured the rear plot of The Centrepoint for $391.1 million in an en bloc purchase in February.
Frasers Property is the majority shareholder in the freehold front plot at The Centrepoint, owning about 96% of the retail units by strata area.
It also has full ownership of 51 Cuppage Road, a 10-storey office building directly connected to The Centrepoint.
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