A rare opportunity has emerged for investors with the availability of a four-storey commercial shophouse on Joo Chiat Road, marketed by PropNex ShophouseHuat and Steward. This freehold property, located in the heart of the Katong–Joo Chiat conservation precinct, boasts a substantial land area of 5,690 square feet and offers significant potential for asset enhancement.
The property is zoned as Commercial GPR 3.0 under the Urban Redevelopment Authority (URA) Master Plan, and includes a backlane strip that could be amalgamated with neighbouring lots for integrated development, subject to planning approval. This amalgamation could increase the gross floor area (GFA) by approximately 790 square feet, enhancing the property’s value.
The shophouse is strategically positioned in a vibrant area known for its heritage and lifestyle appeal, which is expected to benefit from the URA’s Draft Master Plan 2025. This plan includes initiatives such as a conceptual pedestrian mall and the activation of back lanes, which are anticipated to boost footfall and retail trade in the area.
Loyalle Chin, Director of PropNex ShophouseHuat, highlighted the property’s appeal, stating, “With approximately 16,034 new homes coming onstream, we anticipate further regentrification in the Joo Chiat precinct, attracting a deeper pool of reputable lifestyle and F&B operators.”
The asking price for 182 Joo Chiat Road starts at $10.6m (S$14.5m), with eligibility for purchase extended to foreigners and corporate entities without the imposition of Additional Buyer Stamp Duty. This offering presents a compelling investment opportunity in a rapidly evolving district.
