CBRE and Savills have announced the sale of two newly-refurbished shophouses located at 30 and 31 North Canal Road, Singapore. The sale, conducted via an Expression of Interest exercise, will close on 12 November 2025. These 5-storey shophouses, situated in District 1, boast a high-visibility road frontage and are part of the Upper Circular Road Conservation Area.
The shophouses have undergone extensive renovation, including a complete interior revamp and the addition of a new 5-storey rear extension with mezzanine. This has increased the total gross floor area to approximately 13,472 square feet. The asset now features modern specifications, efficient floor plates, lift access on all floors, and a spacious open roof terrace with views of Hong Lim Park and the city skyline.
Michael Tay, Deputy Managing Director of CBRE Singapore, highlighted the asset’s prime location and limited supply of similar properties, stating, “The asset presents an exceptional opportunity to invest into a prime location where sizeable shophouse assets of similar profile are extremely limited in supply.”
Located within the Central Business District and close to popular lifestyle destinations like Boat Quay and Clarke Quay, the property offers excellent connectivity with nearby MRT stations. Yap Hui Yee, Executive Director at Savills Singapore, noted the rarity of such properties in the CBD, adding that it offers a prestigious address with full naming and signage rights.
The guide price is set at $32.8m (S$45m), approximately $2,435 (S$3,340) per square foot. The sale is open to foreigners and companies, with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty applicable.
