Freehold Trophy Conservation Shophouse at 171 Telok Ayer Street for Sale

Singapore – 21 October 2026 – CBRE, as the exclusive marketing agent, is pleased to offer for sale 171 Telok Ayer Street (the "Property"), a rare freehold 3-storey conservation shophouse with mezzanine in the heart of Chinatown. The sale will be conducted via an Expression of Interest exercise closing on Wednesday, 25 November 2026 at 3pm.

Located within the Telok Ayer Conservation Area in District 1, the Property sits within one of the Central Business District's (CBD) most established F&B and lifestyle enclaves. The Property enjoys a prominent frontage along Telok Ayer Street, a vibrant thoroughfare lined with restaurants, cafés and bars. It sits on a freehold land plot of approximately 1,390 sq ft with an estimated total floor area of approximately 4,168 sq ft, subject to final survey. The Property is also within a short walking distance of landmark office developments such as Frasers Tower, CapitaSpring and Guoco Tower, placing it at the doorstep of one of Singapore's densest office catchments and a large captive commercial population.

171 Telok Ayer Street currently enjoys full occupancy, with an established F&B operator on the ground floor and office occupiers on the upper floors, providing stable and immediate rental income to incoming investors. The ground floor also benefits from a rare permanent restaurant approval, which is highly sought after by investors for its ability to command strong rental income.

The indicative guide price for 171 Telok Ayer Street is S$23.76 million, which translates to approximately S$5,700 per square foot based on its estimated total floor area. As this is a commercial property, foreigners are eligible to purchase and there will be no Additional Buyer's Stamp Duty (ABSD) or Seller's Stamp Duty (SSD) imposed on the property transaction.



Mr. Clemence Lee (利伟强), Executive Director of Capital Markets, Singapore at CBRE, said: "Freehold conservation shophouses along Telok Ayer Street are among Singapore’s most highly regarded commercial investment assets. They are tightly held by astute investors due to their scarcity and prestige, and are often swiftly acquired when opportunities arise. Over the past six months, freehold and 999-year conservation shophouses in prime Districts 1 and 2 have transacted at S$5,000 to S$6,800 psf, with quantums of S$16 million to S$22 million. These include 85 Circular Road, 22 Keong Saik Road, 3 Keong Saik Road and 30 Stanley Street. Given the 171 Telok Ayer Street’s palatable investment quantum of under $25 million, we expect it to draw strong interest from a wide pool of investors, including corporate investors, family offices and high-net-worth-individuals.

The Property features highly regular and efficient floor plates that can accommodate a wide variety of businesses. There is also potential to enhance value through conversion of the upper floors to alternative uses such as restaurant, wellness or serviced apartments, subject to approval from the relevant authorities.

Telok Ayer sits between Raffles Place and Tanjong Pagar, an area now being reshaped by one of the most significant waves of rejuvenation the CBD has seen. Under URA's Central Business District Incentive (CBDI) Scheme, introduced in 2019 and subsequently extended, older office towers in the surrounding Cecil Street, Robinson Road, Shenton Way and Tanjong Pagar precincts are being redeveloped into mixed-use developments that combine Grade A offices with residences, hotels and serviced apartments. Notable ongoing redevelopment projects include Solitaire on Cecil, The Skywaters, TMW Maxwell, Avani Singapore Hotel and W Residences Marina View.

As the CBD evolves from a predominantly office district into a vibrant live-work-play destination, Telok Ayer's conserved shophouse streetscape stands to benefit from a growing population of office workers, residents and visitors. It is already a preferred location for new-to-market F&B concepts, specialty cafés and cocktail bars, while also linking directly to the dining clusters at Amoy Street, Club Street and Ann Siang Hill.”

Mr Lee added, “As CBD rejuvenation gathers pace, occupier demand for well-located shophouse space is expected to strengthen, supporting positive rental reversions and capital appreciation over the medium to long term. Coupled with its freehold tenure, which offers investors an enduring store of value and a legacy asset that can be held across generations, the Property presents a rare opportunity to secure a trophy heritage asset in one of Singapore’s most dynamic and sought-after commercial districts.”

171 Telok Ayer Street enjoys excellent connectivity, sitting at the nexus of four MRT stations, namely Telok Ayer, Tanjong Pagar, Shenton Way and Maxwell MRT Stations, all within a short walking distance. The Property is also well served by major arterial roads, offering convenient access to the Central Expressway (CTE), Marina Coastal Expressway (MCE) and Ayer Rajah Expressway (AYE), linking the asset seamlessly to the rest of Singapore.