A freehold shophouse at 15 Trengganu Street has been put up for sale at a guide price of $20 million.
Located at a bustling cross junction between Trengganu and Temple Street, the shophouse, which comprises three distinct levels and an attic, occupies a total floor area of 2,796 sq ft. The property, a rare corner unit with dual frontage facing both Temple and Trengganu Street, enjoys high footfall as it is situated in a highly-sought after location popular with both locals and tourists.
The property is strategically positioned within the Chinatown area, which draws consistent crowds due to its rich heritage and vibrant retail and dining scene. Its proximity to key landmarks — such as Chinatown Street Market, Buddha Tooth Relic Temple, and the “Instagrammable” People’s Park Complex — offers high visibility which makes it ideal for experiential retail or F&B concepts. “The spot just outside the shop is particularly popular with tourists,” says Leslie Chan, senior associate district director at PropNex. “Many like to stop at the shop to snap photos of People’s Park Complex (珍珠坊)to post on social media.”
Rare balcony feature offers extra seating or retail experience space. (Picture: Albert Chua/The Edge Property)
The area experiences particularly high footfall during events like Chinese New Year, which sees the Temple Street area often cordoned off for visitors. Located just a five-minute walk from Chinatown MRT Station, the property also boasts excellent connectivity, which further boosts its daily foot traffic.
The shophouse is expected to be sold with tenancy, which currently fetches a rental income of $29,500, translating to a gross rental yield of around 1.77%. The existing tenant, a souvenir and gift retailer, currently uses the first two levels of the shophouse as retail space, while the third floor has been approved for F&B operations and is operating as a dessert cafe.
Meanwhile, the attic, which is currently used as a storage space, is undergoing F&B licensing approval. “Upon approval, this could further boost the property’s income potential,” says Chan, the exclusive marketing agent of the property. “With F&B usage across multiple levels, the asset becomes even more attractive in terms of yield and flexibility.”
Occupies 2,796 sq ft across three levels and an attic for versatile use. (Picture: Albert Chua/The Edge Property)
Chan adds that the shophouse includes a rare balcony feature, which is currently used by the property’s existing tenant as an outdoor seating area. “There are very few shophouses in the Chinatown area that offer a functional balcony space,” he notes. “This not only adds aesthetic appeal, but provides additional usable area for F&B operators or experiential retailers.”
The property has an additional space on the first level, which is owned by the Singapore Chinese Association and leased to the same tenant, with rent for this portion paid separately.
Just five minutes’ walk from Chinatown MRT Station for excellent connectivity. (Picture: Albert Chua/The Edge Property)
Given that there are fewer than 7,000 shophouses in Singapore, of which many are leasehold, freehold assets in prime tourist locations are extremely rare, notes Chan. “Chinatown shophouses with F&B-approved space are especially prized due to the difficulty of obtaining such licences and the higher rental premiums these spaces command.”
Boasting a combination of location, visibility, and potential F&B upside, the shophouse presents an investment opportunity for potential buyers and investors seeking a prized heritage asset in one of Singapore’s most recognisable cultural districts.
For more information,
Contact Leslie Chan | 82000070
Senior Associate District Director (R031508J)
PROPNEX REALTY PTE. LTD.
