Operating a shophouse business in River Valley
  • Singapore
  • 13 October 2020

Operating a shophouse business in River Valley

Enjoying a choice location in Singapore’s Central Region, the mature River Valley district is a vibrant neighbourhood boasting rich cultural heritage and diversity.

With a history stretching as far back as the 1840s during the colonial era, the district was home to historical sites such as the former Oxley Estate, Van Kleef Aquarium, National Theatre, the Chesed-El Synagogue (which has been gazetted as a national monument) and the colourful Old Hill Street Police Station, which has also been gazetted and now serves as the office premises of Ministry of Communications and Information and the Ministry of Culture, Community and Youth.

In addition to a slew of hotels and service apartments, River Valley today also houses a prime residential enclave just a short drive to Orchard Road and the CBD, and is also supported by a mature road network, Fort Canning MRT on the Downtown Line and the upcoming Great World MRT on Thomson-East Coast Line, scheduled for opening in 2021.

Supporting this dense residential catchment area – which is also home to numerous expatriates – is a wide range of amenities, services and lifestyle destinations operating out of malls like Great World City, UE Square, Valley Point and also a sprawling array of shophouses dispersed throughout the area including the nearby Clarke Quay, Boat Quay and Robertson Quay.

Adding a historic charm of yesteryear, the delightful shophouses that populate the landscape in River Valley can be used for a variety of purposes ranging from F&B and other retail offerings to schools, gyms and offices.

While conservation shophouses offer a nostalgic vista of Singapore’s history, non-conservation shophouses, on the other hand, offer flexibility of redevelopment options. This class of assets continues to be a welcomed investment option due to the more affordable quantum and potential for capital appreciation.

14 Mohamed Sultan Road, for example, was purchased at $5.6 million in 2007, and then sold for $12.2 million in July 2020, representing a 118% gain.

Retail businesses operating in River Valley can look forward to upcoming new residential developments, such as The Avenir, Riviere, Martin Modern, RV Altitude, while commercial initiatives include the recent major refurbishment of Great World City and the on-going development of the former Liang Court site into an integrated development consisting of apartment units, a commercial component, a hotel and a serviced residence. The brisk momentum in urban rejuvenation will translate into an even denser catchment with higher footfall for businesses.

 

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