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News Release


The Shophouse Collection

An exquisite portfolio of prime conservation shophouses up for sale

​​SINGAPORE, 5 December 2017 – JLL, as the exclusive marketing agent, is proud to present for sale The Shophouse Collection, an exquisite portfolio of prime conservation shophouses. With a total value of S$160 million, the portfolio features shophouses located in the following prime addresses: Boat Quay, Circular Road, Upper Circular Road, New Bridge Road, Serangoon Road and Tanjong Pagar. 

The portfolio will be released for sale in phases through a Public Tender exercise. Phase 1, consisting of two clusters of shophouses, namely, The Boat Quay cluster and The New Bridge Road cluster, commences on 5 December 2017.

​The Boat Quay Cluster

Gazetted for conservation in July 1989, the Boat Quay area is one of Singapore’s oldest precincts and is the foundation upon which Singapore has been built. Through the years, the area has flourished into a bustling F&B, lifestyle and entertainment destination, offering unique waterfront dining experiences set amid conservation shophouses. Being a key tourist attraction in Singapore, the area is frequented by tourists. It is also a key of hangout place for the surrounding working professionals. It is highly accessible, with Raffles Place and Clarke Quay MRT stations within a short walking distance. 

Led by the Urban Redevelopment Authority (URA) and Singapore River Organization (SRO), Boat Quay has recently undergone a S$5 million facelift project to revitalize its 330-metre outdoor dining area. A standardized outdoor veranda has been built along the river promenade to enhance its visitor experience and alfresco dining atmosphere.

Properties in the Boat Quay Cluster are tabled below. The assets can be acquired collectively or individually.

61 Boat Quay

77 Boat Quay

17 Circular Road

45 & 46 Circular Road


A 3-storey shophouse with waterfront views

A 2-storey shophouse with waterfront views

A 3-storey shophouse with F&B on ground floor

A pair of 3-storey shophouse with F&B on ground floor

Land Area

947 sf

1,530 sf

950 sf

2,575 sf


2,471 sf

3,702 sf

2,393 sf

5,879 sf


999-year Leasehold

​999-year Leasehold

​999-year Leasehold

​999-year Leasehold


Fully tenanted

​Fully tenanted

​Fully tenanted

​Fully tenanted

Guide Price

S$9.0 million
(S$3,642 psf)

S$12.6 million
(S$3,404 psf)

S$8.0 million
(S$3,343 psf)

S$20.5 million

(S$3,487 psf)

Mr. Clemence Lee, Associate Director, Capital Markets, JLL, said: “With less than 7,000 shophouses in Singapore, pre-war shophouses are prized real estate given their conservation status, unique architecture and rich heritage charm. With these inherent attributes, the value of shophouses has been rising over the years underpinned by strong buying demand and limited supply.” 

“Given their excellent District 1 location, vibrant F&B lifestyle scene and coveted 999-year tenure, shophouses on Boat Quay and Circular Road represent the “crème de la crème” of all shophouse assets. The 59 shophouses located along Boat Quay are the only private waterfront shophouses in Singapore, with each commanding an excellent unobstructed view of the Singapore River. With the current limited supply of quality freehold shophouses available for sale in District 1, this cluster of shophouses provides astute investors with an unparalleled opportunity to acquire a series of premium shophouse assets so as to grow their existing shophouse holdings in the CBD or to gain an immediate foothold into this sector where assets are tightly-held. Opportunities of such profile and scale are extremely rare.”

​The New Bridge Road Cluster

Located in-between Clarke Quay and Boat Quay, the New Bridge Road cluster comprises of 27 to 33 New Bridge Road (a contiguous row of four 4-storey corner block shophouses) and 23 New Bridge Road (a 5-storey commercial building). The Upper Circular Road / New Bridge Road area is a rising F&B lifestyle destination that is popular amongst locals, expats and tourists. Various F&B establishments have sprouted in the area, including highly acclaimed restaurants, such as The Kitchen at Bacchanalia (awarded one Michelin Star), FOC (run by Michelin-starred chef Nandu Jubany), Amo, Vasco and exquisite cocktail bars such as 28 Hong Kong Street (named “Best bar in Asia”). The area also houses a co-working space, The Hive.

Properties in the New Bridge Road Cluster are tabled below. The assets can be acquired collectively or individually.

23 New Bridge Road

27 - 33 New Bridge Road


A 5-storey commercial building with prominent main road frontage

A corner block of four 4-storey adjoining shophouses with 70-metre main road frontage

Land Area

1,584 sf

7,042 sf


6,594 sf

18,034 sf



99-years wef 1934, 1936 & 1938

Master Plan 2014

"Commercial" with plot ratio 4.2

​"Commercial" with plot ratio 4.2​​

Guide Price

S$18.5 million
(S$2,806 psf)

S$23 million
(S$1,275 psf)

27 to 33 New Bridge Road presents developers and investors an extremely rare opportunity to acquire a commercial development site located in the heart of CBD. There is potential to create a prominent corner commercial building by constructing a 6-storey rear extension (to increase GFA by an additional 11,546 sf) and to top-up the site’s lease tenure to a fresh 99-year, subject to authorities’ approval. Once completed, the brand-new boutique building will span about 30,000 sf. 

Mr. Clemence Lee, Associate Director, Capital Markets, JLL said: “27 to 33 New Bridge Road occupies a prominent corner location with a 70-metre wide main road frontage. The property is ideal for incoming investors and developers to develop an iconic flagship building in the heart of CBD. Potential uses for the property include office, co-working, F&B, hotel, medical and entertainment amongst others. With 23 New Bridge Road located only a unit apart, there is potential for incoming investors to create synergy by acquiring both properties.” 

The Public Tender exercise for phase 1 of The Shophouse Collection closes on Wednesday, 24 January 2018 at 3pm.

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Note to editors:

1. A high-definition video of The Shophouse Collection is available here.

2. High-resolution photographs of The Shophouse Collection are available here.​