Rare trio of adjoining freehold Chinatown shophouses up for $48 mil
The rare large-scale, income-producing Chinatown asset may attract institutional investors, family offices and foreign buyers seeking stable commercial rental income without lease decay or additional buyer’s stamp duty.
Three adjoining freehold conservation shophouses at 42/44/46 Smith Street, fully leased with about 9,500 sq ft of built-up area, are offered at $48 million.
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Three adjoining freehold conservation shophouses in one of Singapore's most tightly held heritage precincts are up for sale via Expression of Interest (EOI). Positioned along the vibrant Smith Street, the combined asset brings together a rare combination of scale, immediate income and long-term investment value according to its exclusive marketing agent from ERA, Eva Lau.
Occupying approximately 2,784 sq ft of land with a total built-up area of about 9,500 sq ft, the three units at 42/44/46 Smith Street zoned for commercial use, are fully leased. The owner is looking at a guide price of $48 million.
The sale comes with secure, long-term tenancy income. The ground floor is tenanted to a restaurant while the second and third floors are occupied by JYU Capsule Hotel, an established backpacker hostel with a proven operating track record and consistently strong guest reviews across major online travel agencies. A traditional Chinese medicine clinic, a long-time tenant, occupies the attic.
Rare large-scale conservation asset
Opportunities to acquire multiple adjoining conservation shophouses are especially limited, particularly within Singapore's heritage districts. Furthermore, the combined ownership provides greater flexibility and opportunities for asset management, future repositioning and long-term value creation.
“Large freehold conservation assets of this scale are seldom available in the market. The scale of the properties is expected to attract strong interest from institutional investors, family offices and long-term investors seeking to preserve wealth through quality commercial real estate,” Lau highlights.
Located along the iconic Smith Street directly opposite the Chinatown Complex — Singapore’s largest hawker and shopping complex with over 200 stalls and a public carpark — the three shophouses enjoy a prominent position in the heart of Chinatown with a steady pedestrian flow of tourists, office workers and local visitors throughout the day.
Highly accessible, the shophouses are within walking distance of Chinatown MRT and Maxwell MRT stations, providing connectivity via the North-East, Downtown and Thomson-East Coast lines.
Within the vicinity are hotels, offices, retail outlets, restaurants and popular tourist spots — such as the Buddha Tooth Relic Temple and Sri Mariamman Temple — which add to the area's enduring commercial appeal.
Smith Street is also being rejuvenated by the Chinatown Business Association to offer more curated and diverse offerings and experiences for both locals and tourists, such as community programmes, creative lifestyle, retail, as well as co-living and co-working concepts.
Corner position with strong street presence
The shophouses occupy a prominent corner position with multiple frontages, enhancing both visibility and accessibility. Compared with typical mid-terrace shophouses, the configuration also allows for better natural light and ventilation.
Major renovation works completed in 2023 further reduce near-term capital expenditure requirements.
Their strong street presence offers commercial occupiers excellent branding and signage opportunities, contributing to the property's long-term leasing appeal.
Freehold ownership in a tightly held heritage precinct
The shophouses are fully leased, providing immediate recurring rental income. JYU Capsule Hotel operates under a long-term lease, ensuring stable cash flow.
Within Chinatown's conservation district, opportunities to acquire three adjoining freehold properties of this scale are exceptionally scarce.
Freehold conservation shophouses remain among Singapore's most sought-after commercial assets, valued for their rarity, heritage value and immunity from lease decay.
Moreover, commercial properties are exempt from additional buyer's stamp duty and they can be purchased by foreign buyers.
Combining freehold tenure, scale and a prime Chinatown location, the shophouses represent a rare opportunity to acquire a sizeable heritage commercial asset with immediate yield and long-term capital appreciation potential.
The EOI will close at 3pm on 16 October 2026.
For more information,
Contact Eva Lau | 92785688
Senior Marketing Director (R062169F)
ERA REALTY NETWORK PTE LTD