FOR SALE: Adjoining Pair of Shophouses in the CBD with Hospitality Repositioning Potential

Singapore, 14 July 2026 – Knight Frank Singapore, the exclusive marketing agent, is pleased to offer 18 and 19 Hongkong Street for sale via an Expression of Interest (EOI) exercise.

The offering presents a rare opportunity to acquire two adjoining commercial conservation shophouses in Singapore's Central Business District, available either individually or collectively.

18 Hongkong Street is a four-storey commercial conservation shophouse situated on approximately 1,884 sq ft of land with an existing gross floor area of approximately 5,074 sq ft. The property currently enjoys an existing backpackers' hostel approval.

19 Hongkong Street comprises a four-storey commercial conservation shophouse with a six-storey rear extension, situated on approximately 1,792 sq ft of land with an existing floor area of approximately 8,842 sq ft. The property underwent an extensive Asset Enhancement Initiative completed in 2015 involving approximately S$7 million of capital expenditure. The enhancements included topping up the lease to a fresh 99-year tenure, installing a passenger lift serving all floors, creating a private on-site car park lot, and upgrading the building specifications throughout.

Complementary Assets with Repositioning Potential

The complementary characteristics of the properties create a combined opportunity to unlock greater opportunities through amalgamation and future asset enhancement, subject to the relevant authorities' approval.

The existing backpackers' hostel approval at 18 Hongkong Street, coupled with upgraded building specifications, a passenger lift and a longer lease tenure at 19 Hongkong Street, provides investors with an attractive platform to explore larger-scale accommodation-led repositioning.  Combined ownership also creates greater flexibility in planning, circulation and operational efficiency for future accommodation uses.

Positioned to Benefit from Recent Planning Policy Changes

The offer follows URA’s recent planning revisions for select sites within the Upper Circular Road precinct, which may allow accommodation-led uses on commercial properties, subject to relevant approvals.

The policy shift may broaden future repositioning opportunities within the precinct, while strengthening the long-term investment appeal of well-located commercial conservation assets for investors and accommodation operators.

Ms. Dayna Ang (洪慧珊), Senior Manager, Knight Frank Singapore, (高级经理, 莱坊新加坡) shared, “Amid heightened geopolitical and economic uncertainty, Singapore continues to reinforce its standing as a haven for capital—often regarded as the 'Switzerland of the East'. Against this backdrop, demand for scarce commercial shophouses is expected to remain well supported by investors seeking stable, tangible assets with long-term capital preservation and value creation potential. What distinguishes this offering is the opportunity to acquire two adjoining assets with complementary characteristics that create meaningful repositioning potential beyond what either property can offer individually.”

Strategically situated along vibrant Hongkong Street between Clarke Quay and Boat Quay, the properties occupy one of Singapore's most established lifestyle precincts. Within walking distance of Raffles Place, Clarke Quay and Chinatown MRT stations, the properties benefit from excellent connectivity, a vibrant mix of restaurants, bars, boutique hotels, offices and lifestyle operators, together with immediate access to the CBD workforce. The location continues to enjoy strong demand from business travellers, tourists and lifestyle operators, supporting the long-term appeal of accommodation-led and commercial uses.

The properties comprise a combined site area of approximately 3,676 sq ft. Under the Master Plan 2025, both are zoned "Commercial" with a maximum permissible plot ratio of 4.2, translating to a potential gross floor area of approximately 15,703 sqft. The properties are also open to foreign purchasers, further broadening the potential buyer pool. As commercial conservation assets, they are not subject to Additional Buyer's Stamp Duty (ABSD) or Seller's Stamp Duty (SSD).

Investment highlights:

The Expression of Interest (EOI) exercise closes on Tuesday, 25 August 2026 at 3.00pm.

Credit: Knight Frank Singapore