Photo of retail space (Source: Huttons Asia)
A third-floor retail shop in People’s Park Centre in Chinatown is up for sale via an expression of interest (EOI) exercise with a guide price of $18 million.
Zoned commercial under the Urban Redevelopment Authority (URA) Master Plan 2025, People’s Park Centre comprised of 120 residential units, 324 retail shops and 256 offices.
Measuring an estimated 6,415.28 sq ft, the strata unit is one of the biggest units in this development. The guide price works out to approximately $2,806 psf on the strata area.
Currently it is tenanted to Artcraft Shop for a monthly rental of $30,000, reflecting a gross yield of 2%.
Aric Lim, Associate Group District Director of Huttons Asia, who is marketing the unit, noted its wide frontage and expansive floor area. Such large floor plate units are to come by.
In the last five years, there had been only two caveated transactions of more than 5,000 sq ft of retail space in People’s Park Centre. In Feb 2026, a 5,704.92 sq ft unit was sold for $28 million or $4,908 psf while a 7,190.35 sq ft unit was transacted at $20.8 million or $2,887 psf in Mar 2021, said Lee Sze Teck, Senior Director of Data Analytics of Huttons Asia.
The Expression of Interest will close 31 May 2026.
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For further information, please contact:
Aric Lim, Associate Group District Director, R007953J
Tel: +65 8383 2838 | [email protected]
Huttons Asia Pte Ltd (Licence No: L3008899K)