Ground-floor restaurant unit at People’s Park Complex for sale at $8 mil
The restaurant unit measures 1,615 sq ft (Picture: ETC)
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A ground-floor restaurant in People’s Park Complex in Chinatown is up for sale via an expression of interest (EOI) exercise with a guide price of $8 million. Measuring 1,615 sq ft, the strata unit is located next to the entrance, connecting directly to People’s Park Food Centre. The guide price works out to approximately $4,955 psf on the strata area.
ETC, which is marketing the unit, notes its wide frontage and regular layout. It is currently tenanted by a restaurant operator. “The property is among less than a handful of units that are more than 100 sq m (1,076 sq ft) on the ground floor at People’s Park Complex,” adds Swee Shou Fern, head of investment advisory at ETC, a member of Realion Group.
People’s Park Complex is a mixed-use development on Park Road, off Eu Tong Sen Street. Completed in 1973, the strata-titled development comprises a six-storey retail and office podium and a 25-storey apartment block. It has a 99-year leasehold tenure from 1968, which means it has about 41 years remaining.
People's Park Complex is a mixed-use development in Chinatown that includes retail and office podium, along with an apartment block (Picture: ETC)
Caveats lodged with URA show that the most recent commercial resale transaction at People’s Park Complex was for a second-floor unit with a strata area of 441 sq ft that fetched $1.46 million ($3,308 psf) on March 3. Before that, a 484 sq ft unit on the fourth floor had changed hands for $700,000 $1,445 psf) on Jan 15.
The most recent resale deal for a ground-floor commercial unit was in August 2025, when a 323 sq ft space sold for $1.63 million ($5,032 psf). Prior to that, a ground-floor unit measuring 291 sq ft fetched $1.3 million ($4,473 psf) in June 2023.
The EOI will close on May 20 at 3pm.
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