Shophouse at 27 Neil Road on the market for around $8 mil

/ EdgeProp Singapore |

November 22, 2024 9:30 AM SGT

The Neil Road shophouse is part of the Tanjong Pagar Conservation Area is part of the CBD (Photo: Samuel Isaac Chua/EdgeProp Singapore)

A two-storey corner shophouse at Neil Road and Duxton Road was listed for sale last month with a guide price of $8 million. According to Krystal Khor, director of Mondania and marketing agent for the property, “it has received a lot of interest”. It was sold for $7.2 million, based on a caveat lodged on Nov 22.

The shophouse at 27 Neil Road was built in the pre-war era between the 1920s and 1930s. It occupies a 1,334 sq ft site with a 99-year leasehold tenure from 2000. It features a 5.6m frontage along Neil Road and a depth of 21.5m along Duxton Road, with a total gross floor area of 2,397 sq ft.

A property title search shows that the buyer is a Singapore-based company named Aiguille 827 Pte Ltd, believed to be an investment firm. The seller, Professor Hong Hai, purchased the shophouse in 2007. A distinguished academic and Emeritus Professor at Nanyang Business School, Nanyang Technological University, Hong has made significant contributions to academia, business, and public service.

The two-storey corner shophouse features a 5.6m frontage along Neil Road and a depth of 21.5m along Duxton Road (Photo: Samuel Isaac Chua/EdgeProp Singapore)

He previously served as CEO of Haw Par Corporation, founding chairman of Pidemco Land (now CapitaLand), and a Member of Parliament. Additionally, he has held key roles on statutory boards such as the Urban Redevelopment Authority, the Singapore Institute of Standards and Industrial Research, and the Public Utilities Board.

Hong is also deeply involved in traditional Chinese medicine, frequently lecturing on Chinese culture and medicine. He practises part-time at Renhai Clinic, a not-for-profit enterprise he founded. He operated his Chinese medicine practice from the shophouse until its relocation to Eu Tong Sen Street in 2022.

The shophouse’s interior reflects its dual function as a medical clinic and teaching venue. The ground floor features a reception area and two consultation rooms. The second floor is anchored by a spacious seminar room with a pitched roof and a ceiling height of up to 4.8m. It is used for healthcare talks and seminars on traditional Chinese medicine. The upper level also includes a meeting room and pantry at the rear, enhancing the property’s functionality.

The reception area leading to the waiting room and consultation rooms on the first level of the shophouse (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Price aligned with valuation

Khor notes that the property at 27 Neil Road attracted many viewers after the owner adjusted the selling price to align with its valuation of $8.1 million.

“Seasoned investors are always looking for quality assets,” says Khor. “Singapore is seen as a safe haven for foreign investors, given the stability and structure of our financial system.”

She estimates that the new owner would need to spend “about $300,000 to $500,00” to renovate the interiors of the shophouse, located on Neil Road in the Tanjong Pagar Conservation Area in District 2 of the CBD. The property benefits from the opening of Maxwell MRT Station on the Thomson-East Coast Line in November 2022, which has further revitalised the area. Situated just across the street from the shophouse at 27 Neil Road, the MRT station enhances convenience and boosts foot traffic to the cafés, retail outlets, and other businesses along Neil Road.

Apart from its location, prospective buyers were drawn to the versatility of the shophouse space at 27 Neil Road, notes Khor. “It could be utilised by a single user, such as a boutique retail store or café, or as a multi-concept space — for instance, an F&B outlet on the first level and a dance studio on the second level.”

The seminar room on the second level of the shophouse has a pitched roof with ceiling height of up to 4.8m (Photo: Samuel Isaac Chua/EdgeProp Singapore)

‘Changing the face of Neil Road’

Just across the road is the shophouse at 101 Duxton Road, home to Tamba by Kurt Wagner, a West African restaurant that debuted in April this year.

A few doors away, the two-storey intermediate conservation shophouse at 33 Neil Road changed hands for $9.4 million. The property, with a site footprint of approximately 1,342 sq ft and a 99-year leasehold tenure starting from 1989, underwent a renovation before reopening in May this year. It now serves as the headquarters and retail store for Raph&Remy, a brand specialising in premium bamboo babywear and children’s clothing.

Two doors down is an intermediate two-storey shophouse at 37 Neil Road. Coffee Code, a café from Sarawak, Malaysia, opened on the first level in September 2023. Its signature offerings include flower-shaped waffles with toppings such as Banana Crush (bananas and Nutella), ‘chicken bak kwa’ (chicken floss), and T.C.C Chicken Waffles.

“Coffee Code was one of the first cafés to open, and it was the one that gradually changed the face of Neil Road,” says Khor.

One floor above Coffee Code is Arc-en-Ciel Pâtisserie at 37A Neil Road. This dessert restaurant debuted in September this year and specialises in French and Japanese-inspired pastries and mousse cakes.

Khor: The neighbourhood has become very artistic and bohemian. It is also the birthplace of many local concepts —both past and present (Photo: Samuel Isaac Chua/EdgeProp Singapore)

Next door, at 39 Neil Road, is Sommet, a French café and bar by JAG that opened last month. Its menu features a variety of French classics, including croissants, Croque Madame, and French omelettes.

Other notable F&B establishments include Ahimsa Sanctuary at 76 Neil Road, established three years ago by a group of young Singaporean entrepreneurs. It has become a vibrant multi-concept space with a vegan café on the ground floor and a yoga studio upstairs. It has gained a strong following, especially among National University of Singapore students, says Khor.

The property that most seamlessly connects three major roads is the former Jinrikisha Station. Strategically located at 1 Neil Road, it sits at the junction of Neil Road, Tanjong Pagar Road, and Maxwell Road, notes Khor.

This landmark building served as the main depot for rickshaws from 1903 to 1947. In 2007, Hong Kong actor Jackie Chan acquired the property, giving it a new lease on life. In August 2022, the ground floor was transformed into Born, a contemporary fine dining restaurant by chef Zor Tan, specialising in French and Chinese fusion cuisine.

Besides the addition of new establishments, the area is also home to iconic eateries that have been around for decades. For instance, Jing Hua Xiao Chi, a dumpling house located at 21–23 Neil Road, has been serving its famed dishes for 35 years. Another is Tea Chapter, a traditional Chinese tea house that opened its doors at 9 Neil Road in 1989.

The Mondrian Singapore, a 302-room five-star hotel that opened in June 2023, adds to the area’s vibrancy (Samuel Isaac Chua/EdgeProp Singapore)

‘Bohemian’

Beyond F&B, Neil Road is also home to institutions steeped in history. The Singapore Chin Woo (Athletic) Association, founded in 1921 to promote Chinese martial arts, has been located at 90 Neil Road since 1940. Meanwhile, the Singapore Institute of Architects, established in 1999, has been headquartered at 79B Neil Road for 25 years.

The Mondrian Singapore, a 302-room five-star hotel that opened in June 2023, adds to the area’s vibrancy. Its entrance on Duxton Road enhances pedestrian accessibility to Duxton Hill, Craig Road, Neil Road and Maxwell MRT Station.

“The neighbourhood has become very artistic and bohemian,” says Khor. “It is also the birthplace of many local concepts — both past and present.”

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