Special Feature
High-yield, freehold Joo Chiat shophouse with four-storey rear extension for sale at $11.5 mil
This freehold Joo Chiat shophouse is offered for sale at a guide price of $11.5 million via an expression of interest exercise. (Photo: EdgeProp Singapore)
A freehold 2-storey with attic and 4-storey rear extension shophouse at 370 Joo Chiat Road has been launched for sale through an expression of interest (EOI) exercise with a guide price of $11.5 mil, or approximately $2,633 psf based on the property’s approximate built-up area of 4,368 sq ft.
Situated within the highly sought-after Katong-Joo Chiat enclave in District 15, the property benefits from its location in one of Singapore’s most distinctive and actively revitalised heritage districts.
Voted as one of “The world’s coolest streets in 2025” by Time Out, the charming neighbourhood is renowned for its irresistible blend of conserved shophouses, heritage streetscapes and a lively mix of hip cafes, trendy restaurants and boutique retailers.
Its efficient configuration allows for up to five or six individual tenants, maximising rental potential. (Photo: EdgeProp Singapore)
Occupying an estimated land size of 1,456 sq ft, the fully concrete shophouse boasts a practical configuration — thanks to its staircase tucked to the side — providing optimal use of floor space that accommodates up to five or six individual tenants. On top of its efficient layout and high-ceiling space, the property also offers an expanded floor space with a rear extension.
“This saves the buyer from having to incur the LBC (Land Betterment Charge) and high construction costs, if he were to undertake a new rear extension — not considering the time, submission and approval processes needed,” says Jesmond Lee, managing director of Everton Estate, the exclusive marketing agent of the shophouse.
In addition to parking lots located in front of the property, more spaces are available at a spacious, open public carpark just a minute’s walk away. “It is rare for a shophouse to have parking lots right at its doorstep,” Lee highlights.
A wide and open back alley that accommodates vehicular entry, adds to the convenience for the unloading and loading of goods, away from the main road. “There are very few shophouses that are equipped with an alley that is accessible and sufficiently wide for the entry of vehicles,” he adds. “This provides additional logistical space, adding to its flexible appeal.”
The shophouse features a four-storey rear extension that enhances usable space and a wide rear alley that supports direct vehicular access, making loading and unloading operations convenient. (Photo: EdgeProp Singapore)
The shophouse will be sold with tenancy, with a steady tenant mix comprising La Tienda — a popular lifestyle accessory shop that has been there for six years — a specialist paediatric and prenatal chiropractor, a premium beauty studio and a children’s gym.
“With established tenants spanning different levels with an efficient space layout, the asset is attractive with a rental yield of almost 2.7%, which is one of the highest along the street,” says Lee.
Just a two-minute walk from the property is Katong Point — anchored by popular gourmet grocer Little Farms, along with health and wellness shops. Located a stone’s throw away, i12 Katong offers an exciting array of F&B, retail and lifestyle offerings, including CS Fresh and Golden Village.
It is also situated about six to eight minutes’ walk from Marine Parade MRT Station, along the Thomson-East Coast Line, which further boosts its daily foot traffic.
The URA has identified the Katong-Joo Chiat enclave as part of the Historic East Identity Corridor. As part of its continuous efforts to deepen the precinct’s appeal as a lifestyle destination with rich heritage, a series of enhancements, such as placemaking initiatives, more pedestrian-friendly routes and curated public spaces, are being implemented that will attract even more footfall to the area.
The shophouse also features rare parking lots directly in front, with additional public parking just a short walk away. (Photo: EdgeProp Singapore)
“Few locations in Singapore offer the same combination of cultural depth, lifestyle energy and government-backed enhancement potential as Katong–Joo Chiat,” says Lee.
With fewer than 7,000 shophouses in Singapore, freehold assets in a prime location such as the Joo Chiat and Katong enclave are extremely rare, making this a stable, income-generating asset in a tightly held district.
For a commercial asset, foreign buyers are not subject to additional buyer’s stamp duty, making it highly desirable for international and corporate investors seeking an investment vehicle in a safe haven like Singapore.
For investors and occupiers, this translates into a rare opportunity to own a freehold asset within a precinct that not only retains its cultural significance but is also being actively positioned for long-term growth and sustained commercial vibrancy.
For more information,
Contact Jesmond Lee | 82827707
Managing Director (R007855J)
EVERTON ESTATE PTE. LTD.
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