Four ground floor retail units at Siglap V are on the market at a guide price of $13 million. The fully leased retail units in the freehold mixed use development have prominent dual street-level frontage along Siglap Road and East Coast Road.
Three of the units are leased to a spa and massage establishment and the remaining unit is occupied by a hair salon. The corner units span a strata area of around 3,660 sq ft, and the guide price translates to $3,552 psf. The units will be sold in an Expression of Interest exercise by CBRE, the exclusive marketing agent. The sale is open to foreigners and corporate entities.
“With recent interest rate reductions, we have observed robust demand from family offices and high-net-worth individuals for such commercial retail units in densely populated estates. These assets typically offer stable cash flow, resilient performance during market cycles, and potential for rental upside and capital appreciation,” says Michael Tay, Deputy Managing Director and Head of Capital Markets at CBRE Singapore.
Ground-floor commercial units in Siglap’s predominantly private residential enclave are rarely available for sale and are usually highly sought after by business owners and investors seeking a strategic foothold in a mature residential estate.
Why Is Siglap In The Spotlight
Since the completion of the Thomson-East Coast Line (TEL), public transport connectivity in the district has been significantly enhanced. Stations like Bayshore and Siglap means that residents in the area have a more convenient connection to areas like Marina Bay and Orchard Road.
The upcoming completion of Sungei Bedok Interchange, which will be one more connection along the TEL and Downtown Line (DTL) will elevate the public transport network access for residents in the East Coast like Siglap.
Since 2023, the broader Marine Parade town has been undergoing a five-year rejuvenation masterplan, including the construction of the Marine Parade Community Building which will be connected to Marine Parade MRT station on the TEL.
The transformation, along with investors buying the shophouses at record prices, led to some of the highest rent spikes in commercial shophouses and retail units since 2024, such as a 57% increase in the rental of this unit formerly occupied by a Japanese bakery.
Within District 15’s mature private residential enclave, freehold retail assets with regular footfall and upcoming MRT tailwinds are hard to come by. That’s why when such opportunities arise, developers are quick to snap them up. Take Katong Plaza as an example. In 2024, the freehold property was sold via en bloc to Fragrance Group for $180 million to be developed into a 374-room hotel with about 5,780 sq ft of retail space.
A few steps away, i12 Katong Mall recently completed its sale in April 2026 for $372 million to Altallo Holdings. After a recent refurbishment, the five-storey suburban retail mall with total net lettable area of 211,950 sf was sold with close to full occupancy at the end of January 2026.
In 2024, supermarket chain Sheng Siong acquired eight strata retail units occupying a combined strata area of about 10,624 sq ft at Siglap V when it took over shareholding from Jelita Property. The sale included a leaseback arrangement to Cold Storage and Guardian to continue their operations.
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