Row of seven freehold Joo Chiat shophouses up for sale at $100 mil
Their full occupancy, commercial zoning and 68% potential GFA expansion may attract local and foreign investors seeking rental income and redevelopment upside in Joo Chiat.
Seven adjoining freehold conservation shophouses at 452–464 Joo Chiat Road are offered at $100 million, or $3,948 psf based on maximum allowable GFA.
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Seven adjoining freehold conservation shophouses at 452–464 Joo Chiat Road have been launched for sale at a guide price of $100 million. The row occupies the corner closest to the junction of Joo Chiat Road and East Coast Road, making it one of the largest contiguous freehold shophouse blocks to come to market.
The properties are owned by Bogen Inc., a company specialising in roofing, façade cladding and curtain walls, whose sole director is Lee Choon Sing, according to an Acra search. Lee is said to have purchased the first six shophouses sometime in 2018–2019 before acquiring the seventh at 452 Joo Chiat Road in April 2020, based on a caveat lodged then.
The seven shophouses sit on four land lots: 452 Joo Chiat Road on its own, and 454–456, 458–460, and 462–464 Joo Chiat Road on three further lots. Each has a two-storey frontage with a three-storey rear extension, spanning a combined land area of 8,442 sq ft and an existing gross floor area (GFA) of 15,056 sq ft.
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Zoned "Commercial" with a plot ratio of 3.0, the GFA could be increased by 68%, or 10,270 sq ft, to a maximum of 25,326 sq ft through rear extensions of up to five storeys, subject to approval from the relevant authorities. The properties fall within the Joo Chiat Secondary Settlement Conservation Area.
The guide price of $100 million translates to about $3,948 psf based on the maximum allowable GFA of 25,326 sq ft, according to CBRE, which is marketing the properties via an expression of interest (EOI) exercise.
The seven shophouses are fully leased to a diverse mix of tenants, Joshua Giam, director of capital markets at CBRE Singapore, says. The first two floors have permanent F&B approval, with existing operators including Prairie by Craftsmen (Joo Chiat) café, The Melting Pot gastrobar and cocktail lounge, and neighbourhood bar Cheeers Bistro & Bar.
Tenants on the upper floors include education and fitness operators such as Singapore's first all-female Thai martial arts gym, Encore Muay Thai, as well as private preschool and kindergarten Little Gryphons Montessori.
The properties are across from i12 Katong and Katong Square, and about an eight-minute walk from Parkway Parade and Marine Parade MRT Station on the Thomson-East Coast Line.
Based on caveats lodged, only 452 Joo Chiat Road has a recorded transaction among the seven properties, changing hands for $3.1 million in April 2020. It sits on a freehold site of 1,063 sq ft, with an existing GFA of 2,152 sq ft.
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Elsewhere along Joo Chiat Road, the most recent shophouse transaction was a two-storey corner property at 321 Joo Chiat Road, which changed hands for $7 million in August 2026. The freehold property sits on a 949 sq ft site. Last December, a 1,292 sq ft, ground-floor unit of a three-storey corner shophouse at 107 Joo Chiat Road sold for $4.88 million.
CBRE's Giam expects the properties' rental income and redevelopment upside to draw investor interest. "The shophouses offer potential for further rental and capital appreciation as the Joo Chiat precinct continues to evolve," he adds.
Foreign buyers are also eligible to purchase the properties, Giam says. As the properties are zoned for commercial use, no Additional Buyer's Stamp Duty or Seller's Stamp Duty is payable on the purchase.
The EOI closes on Sept 24 at noon.
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