Clifton Partners put South Bridge Road conservation shophouses up for sale without guide price

Kalynskye Adrian

/ EdgeProp Singapore

February 27, 2026 3:33 PM SGT

kalynskye.adrian@edgeprop.sg

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The shophouses at 277 and 279 South Bridge Road, with Gunkee as its anchor tenant. (Photo: Savills)

A pair of adjoining refurbished shophouses at 277 and 279 South Bridge Road have been launched for sale via an expression of interest (EOI) exercise, according to Savills, the exclusive marketing agent. No guide price has been disclosed.

Located within the Telok Ayer Conservation Area, the three-storey properties sit on a combined land area of 2,847 sq ft and offer a total built-up area of about 8,259 sq ft. The shophouses are held on a 99-year lease from 1992, with about 65 years remaining. Under the URA Master Plan 2025, the properties are zoned for commercial use.

Based on property title and ACRA searches, the assets are owned by Clifton Partners, which purchased the property a few years ago without lodging a caveat.

Clifton Partners undertook refurbishment works, which were completed around April last year. The first and second storeys are currently leased to Gunkee Claypot Restaurant, while the mezzanine and third storeys are tenanted for office use, says Yap Hui Yee, executive director at Savills, who is handling the sale.

The properties are located near one end of South Bridge Road, a historic 1.6km thoroughfare constructed in 1883 that runs from Elgin Bridge at the Singapore River to Chinatown, terminating at the junction of Neil Road, Tanjong Pagar Road and Maxwell Road. The road spans three conservation districts — Boat Quay, Telok Ayer and Kreta Ayer — linking the Singapore River to the Chinatown precinct.

The shophouses for sale are within walking distance of Maxwell MRT Station on the Thomson-East Coast Line and Chinatown MRT Interchange, which serves the Downtown Line and North-East Lines.

The most recent transaction along this stretch of South Bridge Road was the sale of the freehold property at 233 South Bridge Road, which changed hands for $15.2 million in January 2023, based on a caveat lodged.

“There have not been any recent comparable transactions along South Bridge Road since then,” says Yap.

In the vicinity, a 999-year leasehold shophouse at 65 Club Street was sold for $21 million last September. Based on a gross floor area of about 5,400 sq ft, the transaction reflected a price of approximately $3,889 psf.

For a more comparable 99-year leasehold conservation asset with a similar remaining tenure, Yap points to the refurbished trio at 70, 71 and 72 Duxton Road.

The trio, which hold a 99-year lease from 1988, were transacted in 2024 for between $40 million and $50 million, translating to about $4,200 to $4,600 psf based on a gross floor area of around 10,700 sq ft. The buyer was reportedly Zhang Ying, wife of Alibaba founder Jack Ma.

The EOI exercise for 277 and 279 South Bridge Road will close on April 1.

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