Killiney Road’s only strata restaurant put up for sale

SINGAPORE, FEBRUARY 27, 2024 – A freehold strata restaurant unit along Killiney Road has been put up for sale via an Expression of Interest (EOI) exercise by exclusive marketing agent, JLL (NYSE:JLL). The 4,036 square feet (sq ft) property is the only strata commercial unit within the 30-unit residential development known as Killiney 118.

Situated within District 9 of Singapore’s Core Central Region (CCR), the space is located on the ground floor of the 6-storey building and is currently fully leased to a café and wine bar, known as Bloom (formerly Artisan Boulangerie Co.). With permanent approval for “Restaurant” use, the property has a prominent road frontage with barrier-free entrance allowing convenient access for both residents and the public.

The property is within 5-minutes’ walk of Somerset MRT station, enjoying excellent accessibility and providing connectivity to Orchard Road and the rest of Singapore via the North-South MRT line.

Rejuvenation of Orchard Road

Off the back of the Urban Redevelopment Authority (URA)’s 2019 announcement to strengthen Orchard Road’s position as a must-visit lifestyle destination, the property has direct access to the area’s ongoing renewal. The emergence of new concepts along the Somerset belt catering to a younger demographic aims to increase vibrancy within the precinct.

Adjacent to Somerset Skate Park is the newly opened Trifecta, the first sports facility established within Asia offering skating, surfing, and snowboarding experiences. *SCAPE, currently under redevelopment, is anticipated to open in 1H 2024 with a refreshed tenancy mix. With its reconfigured internal space, it will provide space for more innovative and creative concepts to foster collaborative opportunities.

The former Grange Road Car Park will also be redeveloped into Live!@313, a multifunctional venue offering event spaces, food, retail, and entertainment, contributing to a more experiential lifestyle scene. Live!@313 is expected to complete by 4Q 2024.

“With all the planned developments to enhance the shopper’s experience within the Somerset precinct and broader Orchard Road area, the property presents a great opportunity for high-net-worth individuals, family offices or business-owners, who wish to partake in the Orchard Road transformation story,” says Terry Wong, Senior Director, Capital Markets, JLL Singapore.

Current and future potential footfall

In addition to its proximity to Orchard Road, the property is within an affluent residential enclave. Surrounded by upscale residential developments, its residents often patronize the restaurant unit. The Killiney Road stretch is also home to several other prominent cafes and eateries, attracting large crowds of not just residents but office workers in the areas as well.

This includes the famous namesake local coffee shop chain, Killiney Kopitiam, which has operated its traditional Hainanese coffee shop at Killiney Road since 1919. Other notable eateries include Warung M. Nasir, the famous nasi padang stall owned by Malaysian singer-songwriter, M. Nasir as well as FOOK KIN, which is owned by local Class 95 radio DJ duo, The Muttons.

Two blocks down from the property is the familiar office building, Comcentre, which is slated to be redeveloped. Set to be completed in 2028, the building will be transformed into a S$3 billion development spanning an estimated 110,000 square metres (sqm). This will comprise two towers of Grade A office; a lifestyle, F&B, and retail arcade; an elevated rooftop park with a 300-person auditorium as well as a running and walking track and integrated wellness hub.

“With its sizeable strata area, the property offers flexibility for further sub-division to incorporate multiple smaller food and beverage concepts, if desired. The neighbouring developments are likely to yield higher footfalls to the locality in the future. Along with the property’s strategic location at the popular F&B and commercial shophouse strip along Killiney Road, it allows the incoming owner various options to unlock potential value,” adds Wong.

The indicative price for the property is S$20 million, or about $4,955 per sq ft on strata area.

The EOI exercise will close on 28 March 2024 (Wednesday), at 3pm.