Orchard Shopping Centre eyes collective sale amid surrounding revitalisation plans
Word on the street is that the owners of Orchard Shopping Centre are exploring a collective sale for the first time (Photo: Samuel isaac Chua/EdgeProp Singapore)
Word on the street is that the owners of Orchard Shopping Centre are exploring a collective sale — a move that could potentially add another site to the growing wave of redevelopment activity along Orchard Road.
The nine-storey, strata-titled commercial building occupies a prominent corner at the junction of Orchard Road and Grange Road — one of the busiest pedestrian crossings along Singapore’s prime shopping belt. The mall’s tenants include long-standing homegrown Poh Heng Jewellery (founded in 1948) and Xiao Long Kan Hotpot.
This will be the first time the owners of Orchard Shopping Centre are attempting a collective sale. A collective sales committee has been appointed, which has in turn engaged boutique real estate agencies AlpsEdge and Brilliance Capital as joint marketing agents. AlpsEdge is headed by former JLL capital markets veteran Tan Hong Boon, while Brilliance Capital is led by founder and executive director Sammi Lim.
As the collective sale process is still at an early stage, no price indication has been provided.
The strata-titled commercial development is understood to have been built by Far East Organization, the property group founded by the late tycoon Ng Teng Fong. Far East developed many of Orchard Road’s strata-titled commercial complexes in the 1970s and early 1980s, including Far East Shopping Centre, Far East Plaza, Lucky Plaza, Orchard Plaza and Orchard Shopping Centre.
The former Faber House on Orchard Road is being redeveloped into the first NoMad Hotel in Asia Pacific, managed by Hilton (Picture: UOL Group)
Somerset precinct sees flurry of en bloc sales
Further down Orchard Road, Cuppage Terrace — a cluster of 17 conserved Peranakan-style shophouses — was also launched for sale via an expression of interest (EOI).
The property sits on a site area of 28,986 sq ft and carries a 99-year lease from 1989, leaving a remaining tenure of about 64 years. Zoned “Commercial”, it is located within the Emerald Hill Conservation Area, just one street off Orchard Road, and boasts a prominent 85m frontage along Cuppage Road.
Cuppage Terrace has a total floor area of 50,891 sq ft, including more than 12,000 sq ft of outdoor refreshment area (ORA). While no guide price has been disclosed, CBRE notes that the latest valuation in 2025 stood at $250 million. This works out to about $4,912 psf based on the total floor area, including ORA. Excluding the ORA, the floor area would be approximately 38,891 sq ft, translating to about $6,428 psf.
The cluster of 17 conservation shophouses at Cuppage Terrace next to The Centrepoint, was launched for sale on Jan 19 by expression of interest at a valuation of $250 million (All the following pohotos by Samuel Isaac Chua/EdgeProp Singapore)
‘Singapore’s largest conservation shophouse offering’
“Given its scale and Orchard Road location, Cuppage Terrace is set to be one of Singapore’s largest conservation shophouse offerings,” says Clemence Lee, executive director of capital markets at CBRE, which is handling the sale.
The property is owned by Royal Holdings, a property investment group headed by real estate magnate Raj Kumar, which acquired the asset in 2006. Following several rounds of refurbishment over the years, Cuppage Terrace has evolved into what CBRE describes as “a landmark enclave” along Orchard Road. The shophouses are fully leased.
Under secondary settlement guidelines within the Emerald Hill Conservation Area, a rear extension of up to three storeys may be constructed behind the conserved shophouses,
Tenants contributing to the nightlife scene include restaurant-and-bar concepts such as Al Capone’s, Five Bar and Harry’s. Another anchor tenant is Arena Esports Hotel, an esports-themed hotel operator. The 46-room hotel, which opened in December 2022, occupies about 12,000 sq ft across 11 adjoining shophouses. The space was previously used by a co-working operator.
Given its prime Orchard Road location, Cuppage Terrace is expected to attract strong interest from high-net-worth individuals and family offices. “We anticipate robust interest from a diverse spectrum of local and international capital, including family offices, funds and high-net-worth investors, all vying for this one-of-a-kind trophy asset,” Lee adds.
Cuppage Terrace could also appeal to a developer eyeing the neighbouring collective sale site, The Centrepoint. As both properties are held on 99-year leases, they could potentially be redeveloped together, with the lease tenure topped up. If amalgamated, a developer could also apply for URA’s Strategic Development Incentive (SDI) Scheme, which offers bonus gross floor area of up to 20%.
Under secondary settlement guidelines within the Emerald Hill Conservation Area, a rear extension of up to three storeys may be constructed behind the conserved shophouses, Lee notes. The EOI for Cuppage Terrace will close on Feb 12.
The leasehold portion of The Centrepoint on the market for collective sale at $418 million is a seven-storey block with 66 strata retail units and 66 apartments
Multiple sites in play along Orchard–Somerset stretch
Meanwhile, the tender for the collective sale of the leasehold block at The Centrepoint was launched on Jan 7. The L-shaped rear portion comprises 132 strata units, evenly split between 66 retail units and 66 apartments.
The site was launched for sale at a guide price of $418 million, with Savills Singapore as the exclusive marketing agent. This translates to about $2,706 psf per plot ratio, after factoring in a land betterment charge of $260 million to top up the lease to a fresh 99 years and intensify the site to a plot ratio of 5.6.
The Centrepoint and Cuppage Terrace are part of the wider Somerset precinct along Orchard Road, which also includes retail and lifestyle malls such as 313@Somerset, Orchard Central, and Orchard Gateway.
The tender for the collective sale of Singapore Shopping Centre closed on Jan 16, and the property has now entered the 10-week private treaty period
Transformation momentum builds up
Further down the road at 190 Clemenceau Avenue — just outside the Orchard Road stretch and opposite Dhoby Ghaut MRT Interchange — Singapore Shopping Centre is also in play. The seven-storey building was launched for collective sale last August at an asking price of $200 million. After the tender closed, it was relaunched on Dec 4 at the same price. The tender closed on Jan 16, and the property has now entered the 10-week private treaty period.
Singapore Shopping Centre sits on a 26,369 sq ft corner site zoned for commercial use with a plot ratio of 4.2. The development has an existing gross floor area of about 135,264 sq ft, comprising retail and office components.
Opposite Orchard Shopping Centre is the former Faber House, which UOL Group announced in March 2025, will reopen in early 2027 as the first NoMad Hotel in Asia Pacific, managed by Hilton. The new 19-storey tower, designed by WOHA, will feature a biophilic design with a 15-storey waterfall and “cliff-like” vertical landscaping, as well as an “urban verandah” — a public art and design space on the third level.
At the rear — on the former Grange Road open-air carpark site — a new 3,000-capacity purpose-built live music venue is being developed by Live Nation and Lendlease Global Commercial REIT, which also owns the neighbouring 313@Somerset mall.
The $3 billion redevelopment of Comcentre will be a sustainable workplace with two 20-storey Grade-A office towers and over 200,000 sq ft of lifestyle and retail space
Further down Exeter Road — opposite Somerset MRT Station and 313@Somerset — the new Comcentre development by Singtel and Lendlease broke ground last July. The $3 billion project is positioned as a world-class sustainable workplace and will feature the largest integrated Grade A office space in the Orchard Road precinct. It will comprise two 20-storey Grade A office towers and over 200,000 sq ft of lifestyle and retail space.
Directly across the street from Comcentre is Mama Shelter, a 115-key lifestyle boutique hotel that opened last September.
Elsewhere along Orchard Road, rejuvenation is also expected following the successful collective sale of Concorde Hotel and Shopping Mall, Tanglin Shopping Centre and Delfi Orchard. The stretch encompassing voco Orchard, Forum Shopping Cente and HPL House is also slated for renewal. Meanwhile, the former Ming Arcade is being redeveloped into a new 165-key luxury hotel, Casa Met.
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