Knight Frank Singapore has announced the sale of a freehold corner building at 188L Tanjong Katong Road through an Expression of Interest (EOI) exercise. The five-storey property, featuring a student hostel and restaurant, is strategically located in the evolving Tanjong Katong–Dakota precinct, offering significant investment potential.
The building occupies a 2,300 sq ft plot with a floor area of 9,330 sq ft. Its dual-use approval allows for restaurant operations on the ground floor and student accommodation on the upper levels. This flexibility, combined with its prominent corner location, makes it an attractive proposition for private capital, family offices, and accommodation operators.
The area is witnessing substantial growth, bolstered by major residential projects like Grand Dunman and Tembusu Grand, which are expected to increase demand for local amenities. Additionally, the precinct benefits from new infrastructure such as the THK Nursing Home and proximity to the Paya Lebar commercial hub, enhancing its appeal.
Dayna Ang, Senior Manager at Knight Frank Singapore, highlighted the scarcity of such assets, stating, “Freehold accommodation assets with existing student hostel and restaurant approvals are exceptionally scarce, particularly within established city-fringe locations where future supply is inherently constrained.”
The property offers opportunities for asset enhancement, including façade upgrades and introducing lifestyle concepts to cater to the growing residential population. The EOI exercise closes on 16 September 2026, with a guide price set at $23.8m.
