Carpenter Street commercial building for sale at $65 mil

Atiqah Mokhtar

/ EdgeProp Singapore

January 6, 2026 12:53 PM SGT

propertyeditor@edgeprop.sg

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28 Carpenter Street (Picture: CBRE)

A six-storey commercial building at 28 Carpenter Street is up for sale through an expression of interest (EOI) exercise, with a guide price of $65 million. This translates to $3,685 psf on the building’s total gross floor area of approximately 17,639 sq ft.

The building occupies a land area of about 3,065 sq ft that is zoned for commercial use under the URA Master Plan 2025, with a gross plot ratio of 4.2. It has a 40m dual frontage along Carpenter Street and New Bridge Road and is located opposite Clarke Quay MRT Station on the North East Line.

According to marketing agent CBRE, the building completed extensive addition and alteration works in 2024, alongside a top-up of the asset’s land tenure to a fresh 99-year term. Renovations included the replacement of major mechanical and electrical equipment, conversion of the ground-floor premises to “Restaurant” use and the installation of a new passenger lift with access to all floors.

In addition, the building facade was refurbished and features a new mural painted by Sean Dunston. The American artist based in Singapore was in the spotlight last year when his mural on a building at 297 South Bridge Road, depicting a samsui woman smoking, became the subject of public debate.

CBRE highlights that 28 Carpenter Street is currently fully tenanted, offering the future buyer stable and immediate rental income. Clemence Lee, executive director of capital markets for Singapore at CBRE, adds that with new office supply expected to further tighten in 2026, office rents are projected to increase, underpinned by robust leasing demand. “Therefore, 28 Carpenter Street presents a compelling opportunity for significant rental and capital appreciation over the medium to long term.”

For Lee, the building’s prime corner location and striking artwork make it a prominent landmark within the CBD. “Its exceptional location, directly opposite Clarke Quay MRT and offering immediate access to a vibrant mix of dining, retail and lifestyle amenities, further enhances its appeal,” he continues. These include the newly refreshed CQ @ Clarke Quay, and the upcoming CanningHill Piers and Union Square mixed-use developments.

The EOI will close on Feb 11 at 3pm.

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Carpenter Street commercial building for sale at $65 mil

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