Two freehold commercial properties at Balestier and River Valley Road on sale via EOI

The EOI will close on 2 June at 12 pm.

CBRE announced the sale of two freehold commercial properties at 453 Balestier Road and 268 River Valley Road via an expression of interest (EOI).

The Balestier Road property is a newly expanded row of five two-storey conservation shophouses with recently constructed six-storey rear extensions and an attic offering a street frontage of 30 meters.

The property spans approximately 6,811 square feet (sq ft) of land with a gross floor area (gfa) of approximately 20,089 sq ft. It includes five F&B and retail shops on the ground floor and 12 residential units with ensuite rooms, bathrooms, and kitchenettes across levels 2 to 6.

It has a guide price of $50m or $2,489 per sq ft (psf) based on gfa. 

The River Valley Road property is a newly built four-storey serviced apartment with an F&B approved shop on the ground floor. It sits on a land plot of approximately 3,130 sq ft and has a gfa of approximately 8,548 sq ft.

With a guide price of $25m or $2,924 psf based on the estimated gfa, the property offers 12 serviced apartment units with a total of 23 rooms, some equipped with a bathroom and a kitchenette. It started operations in August 2024.

The EOI will close on Monday, 2 June, at 12 pm. The assets can be sold either as a portfolio or individually to both locals and foreigners, subject to approvals from relevant authorities.