The shophouse has a two-storey conserved frontage, with a three-storey rear extension and an attic (Picture: Huttons Asia)
An intermediate terraced shophouse along Crane Road has been launched for sale through an expression of interest (EOI) exercise with a guide price of $8 million. The price translates to $2,362 psf on the property’s estimated built-up area of 3,387 sq ft.
The shophouse has a two-storey conserved frontage, with a three-storey rear extension and an attic. Sitting within the Joo Chiat Conservation Area, the property occupies freehold land of approximately 1,309 sq ft. The land is zoned for residential use under the URA Master Plan 2025.
According to Huttons Asia, which is marketing the shophouse, the property underwent extensive addition and alteration works that were completed in 2Q2025. Configured as a dual-key property, it features separate staircases in the front and rear wings. Other features include en suite bedrooms and lift access to all levels.
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The shophouse’s recent renovations are expected to boost its appeal. “For many buyers, the ability to acquire a conserved property that has undergone upgrading reduces the uncertainty typically associated with restoration works,” remarks Tan Chew Ming, associate division director at Huttons Asia.
Hugo Xu, associate senior branch district director at Huttons Asia, adds that conserved residential properties are gaining popularity as an alternative property asset class, with certain buyers seeking such assets for long-term wealth preservation. “Unlike conventional residential supply, conserved properties are inherently finite, and this supply constraint can support value retention over time,” he explains.
Meanwhile, Lee Sze Teck, Huttons’ senior director of data analytics, points out that the median price of new non-landed homes in District 15 surpassed $2,700 psf in 2026. “With an asking price of $2,362 psf, this [Crane Road shophouse] is a rare opportunity for buyers to acquire a piece of history and heritage,” he comments.
Caveats lodged with URA show that the most recent landed residential transaction on Crane Road was a terraced property with a land area of 1,310 sq ft that changed hands for $2.9 million ($2,214 psf) in September 2022. Before that, a terraced property with a land area of 2,138 sq ft was sold for $3.68 million ($1,721 psf) in October 2021.
The EOI will close on April 30 at 4pm.