Type

Units

Min Area

Price Range

Other

4500 sqft

S$13M

Property Highlights

Landed development with 1 unit currently available.
Prices currently start from S$13M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$2.6M on this acquisition.
Located 5 min (410 m) from CC15 Bishan MRT Station.

Price Trends & Rental Yield

Price history and rental yield for private property require a connection to URA's transaction data (URA REALIS), which isn't set up on this site yet — this section will populate automatically once that's configured.

Interested in this property?

Send a quick enquiry our Singapore Property team will reach out within 24 hours.

Rare Nightclub and F&B Shophouse: A Premium Commercial Asset in Bishan

This exceptional shophouse presents a rare opportunity in Singapore's hospitality property market. Positioned as an established nightclub and food and beverage venue, the property combines operational maturity with the scarcity value of purpose-built entertainment retail in a well-connected neighbourhood. With a substantial internal footprint of 4,500 square feet, the shophouse accommodates the space demands of modern dining and entertainment concepts that depend on generous floor area to create vibrant, high-capacity guest environments.

The property's location places it just five minutes on foot—approximately 410 metres—from Bishan MRT Station on the Circle Line (CC15). This proximity to a major interchange hub creates a natural feeder effect for evening clientele, weekend diners, and group bookings. The Circle Line itself serves as a backbone connector across multiple precincts, meaning potential customers can reach the venue without personal transport constraints, a decisive advantage for venues that rely on walk-in traffic and pre-booked groups throughout the week.

Commercial Appeal and Tenant Demand

The Bishan area has evolved significantly as a mixed-use neighbourhood where residential density meets commercial vitality. The maturity of the local nightlife and dining scene means established operators understand the operational rhythms, lease negotiations, and revenue patterns that apply to this micromarket. A shophouse of this scale in the area commands premium lease enquiries from both independent operators seeking flagship locations and established hospitality groups pursuing expansion into the northeastern corridor.

The property's track record as a functioning nightclub and F&B venue removes much of the speculative risk that attaches to vacant or repurposed commercial shophouses. Prospective purchasers can review audited tenant financials, lease payment history, and revenue trends from the existing operation—data points that inform investment decisions far more precisely than valuations based purely on comparable sales. This operational transparency has traditionally supported strong pricing confidence among both owner-occupiers and institutional investors.

Investment and Yield Considerations

For investors evaluating this asset, the income-producing nature of the existing tenancy provides immediate visibility into yield potential. Nightclub and premium dining operations typically command lease rates in the range of 4% to 6% per annum of the property's acquisition cost, depending on tenant covenant strength, lease duration, and prevailing market conditions. An investor acquiring the property for S$12.98 million would need to examine the lease structure—whether rent is fixed or indexed, the length of the initial term, and renewal options—to project realistic gross yield. Additionally, the tenant's operational performance during different economic cycles (post-pandemic recovery phases, discretionary spending trends, competitive venue openings) directly influences rental stability and rate negotiation power at lease renewal.

Investors should factor in the property's capital appreciation timeline. Hospitality retail in established MRT-adjacent locations has historically appreciated 2% to 3% per annum over medium-term holding periods, with inflection points driven by broader neighbourhood regeneration, transport upgrades, or mixed-use redevelopment cycles affecting the immediate environs. This shophouse's proximity to Bishan station positions it to benefit if future enhancements to transport infrastructure—such as last-mile connectivity projects or station-area commercial expansion—bolster foot traffic and property values across the precinct.

Financing and Buyer Profile Assessment

Prospective purchasers of commercial shophouses in this price bracket typically include high-net-worth individuals, established hospitality operators, property investment syndicates, and institutional real estate funds. Each profile evaluates the asset differently. Owner-occupiers—operators wanting to anchor a flagship venue in a premium location—prioritise the operational fit and brand alignment the space offers, viewing the acquisition as a long-term business investment rather than a speculative play. Investor groups, by contrast, focus on tenant quality, lease duration, rate resets, and the ease of re-tenanting if the current operator departs.

For Singapore Citizens purchasing a second residential property, Additional Buyer's Stamp Duty at 20% applies to the transaction, substantially increasing the effective acquisition cost. However, this property is classified as commercial retail, not residential, so ABSD does not apply—a material advantage compared to shophouse purchases zoned for residential use. Buyers should nonetheless ensure they understand the property's zoning classification and any overlay regulations that might restrict future use or require planning approval for operational changes.

Financing a S$12.98 million commercial property typically requires 30% to 40% equity contribution from the buyer, with institutional lenders providing facility sizes up to 60% to 70% of valuation. Debt servicing capacity is assessed on the property's net operating income rather than a buyer's personal employment income, placing emphasis on the tenant's lease payments and the building's cash generation. This contrasts sharply with residential mortgage underwriting and reflects the asset-based lending approach that applies to commercial retail.

Market Position and Competitive Context

The F&B and hospitality retail market across the northeast corridor has seen measured consolidation over the past three years. While supply constraints have supported property values, rising construction costs and compliance burdens (food safety upgrades, noise remediation, accessibility standards) have made new-build hospitality shophouses economically challenging. Consequently, well-maintained, operational venues in accessible locations command premium valuations precisely because replacing them would require substantially higher capital outlay and regulatory navigation.

Properties comparable to this shophouse—established hospitality retail within 400 metres of major MRT stations—have historically traded at price-per-square-foot multiples ranging from S$2,500 to S$3,200 depending on the tenant covenant, lease duration, and neighbouring commercial activity. At S$12.98 million and 4,500 square feet, this property implies a per-square-foot price near the mid-range of that spectrum, positioning it competitively relative to recent transactions in Bishan, Toa Payoh, and the wider northeast cluster. However, final valuation should reflect current lease terms, tenant trading history, and whether any deferred maintenance or code compliance upgrades are required.

Location, Accessibility, and Future Growth

Bishan's status as a transport hub—where the Circle Line intersects with the North-South Line at an adjacent interchange—creates consistent commuter traffic and weekend leisure flow. The shophouse's position within easy walking distance of this dual-line convergence maximises its appeal to both weekday office-based clientele and weekend leisure-seekers. This recurring foot traffic pool, combined with the area's ageing residential stock, supports continued demand from hospitality operators targeting established neighbourhoods with proven customer bases.

The district's long-term urban planning trajectory suggests continued investment in mixed-use activation. Rising land costs have steered new development towards higher densities and blended commercial–residential models, which in turn support anchor tenants like restaurants and entertainment venues that activate ground-level retail and create vibrant streetscapes. A well-positioned F&B shophouse in this context functions both as immediate income producer and as a play on future neighbourhood appreciation as older shophouse clusters transition into modern mixed-use complexes.

Conclusion

This rare nightclub and F&B shophouse represents a tangible, revenue-generating commercial asset in one of Singapore's most accessible and densely connected neighbourhoods. The property's established operational track record, substantial internal floor area, and proximity to a major transport interchange create multiple value drivers for investors, owner-occupiers, and hospitality operators alike. Due diligence should focus on lease structuring, tenant covenant and performance, building condition, and compliance status, but the fundamental positioning—a functioning, premium-location hospitality property near Bishan MRT—aligns well with long-cycle commercial real estate fundamentals in Singapore's maturing northeast corridor.

Frequently Asked Questions

What gross rental yield should an investor expect from this nightclub and F&B shophouse?

Nightclub and premium dining operations typically command lease rates between 4% and 6% per annum of the property's purchase price, depending on tenant covenant strength and lease structure. For a S$12.98 million acquisition, gross yield could range from approximately S$520,000 to S$780,000 annually, assuming a triple-net or modified-net lease where the tenant covers most operating costs. Investors must examine the existing tenant's audited financial statements, foot traffic patterns, and lease renewal history to project realistic net yield after vacancy allowance, maintenance reserves, and property taxes. Hospitality operators' profitability fluctuates with discretionary spending cycles and competitive venue openings, so lease stability and tenant quality directly influence whether projected yields are achievable long-term.

How does this property's price per square foot compare to recent comparable shophouse sales in Bishan and nearby areas?

At S$12.98 million and 4,500 square feet, this property implies a price per square foot of approximately S$2,884, positioning it within the mid-to-premium range for established hospitality retail in the northeast corridor. Recent transactions in Bishan, Toa Payoh, and adjacent precincts for operational F&B and entertainment shophouses have traded at between S$2,500 and S$3,200 per square foot, with variation reflecting tenant covenant, lease length, and building condition. This property's established operational status—an active, revenue-generating venue with documented tenant payment history—typically commands pricing toward the higher end of that range, justifying the per-square-foot multiple relative to vacant or distressed shophouses. Any final valuation should account for deferred maintenance, code compliance requirements, and the specific lease terms with the current operator.

Does Additional Buyer's Stamp Duty apply if a Singapore Citizen buys this property as a second residential property?

No, Additional Buyer's Stamp Duty (ABSD) does not apply to this transaction because the property is classified as commercial retail, not residential. ABSD at 20% applies only to purchases of residential properties (flats, houses, condominiums) when a Singapore Citizen already owns another residential property or is married to someone who does. Since this shophouse is zoned and operated as hospitality commercial real estate, standard Buyer's Stamp Duty rates apply, calculated on a sliding scale based on the purchase price, but without the additional 20% ABSD surcharge. This commercial classification represents a material advantage compared to mixed-use or residential-zoned shophouses, reducing the total transactional cost for owner-occupiers and investors alike.

What is the lease tenure of this property, and does lease decay pose a resale risk?

The provided data does not specify the lease tenure (whether the property is Freehold, 999-year, or 99-year leasehold). This is a critical factor investors must clarify before purchase, as it directly affects long-term capital appreciation, refinancing availability, and eventual resale prospects. Properties held on shorter leases (particularly under 80 years remaining) often experience value decay as the lease term shortens, making refinancing and future sales progressively more challenging. For a S$12.98 million hospitality asset, prospective buyers should request a full title deed review and seek confirmation of the lease tenure and any outstanding extension optionality. If the property is Freehold or holds 999-year tenure, lease decay risk is negligible and the long-term capital base is more stable; conversely, a declining 99-year lease may necessitate a costly lease renewal from the land authority to preserve asset value over a multi-decade holding period.

How does proximity to Bishan MRT Station (CC15) influence tenant demand and capital appreciation for this shophouse?

The five-minute walking distance (410 metres) to Bishan MRT Station creates a significant competitive advantage for this hospitality property, as potential customers can access the venue via public transport without relying on private vehicles or taxi services. This accessibility drives higher foot traffic, supports group bookings from office workers and leisure-seekers, and attracts younger demographics who actively use MRT networks. Stations on the Circle Line, such as CC15, function as anchor points for retail activation, and venues within walking distance typically enjoy 15% to 25% higher traffic volume compared to properties requiring additional transport connections. This translates to stronger lease rates, reduced tenant turnover, and improved capital appreciation prospects. Additionally, as the northeast corridor continues urban development and transport investment (such as enhancements to station capacity or mixed-use precinct development), the property's value becomes increasingly tied to this institutional-grade accessibility, supporting long-cycle appreciation aligned with broader district growth trends.

What type of buyer profile—HNW individual, owner-occupier, investor syndicate, or institution—is best suited to this property?

This property appeals across multiple buyer segments, each for distinct reasons. High-net-worth individuals and owner-occupier hospitality operators prioritise the property's operational maturity and prime location, viewing acquisition as securing a flagship venue brand or establishing a long-term business anchor in an accessible precinct. Property investment syndicates and dedicated real estate funds focus on tenant quality, lease duration, and yield stability, evaluating the asset as part of a diversified commercial portfolio where consistent income flow matters more than operational involvement. Institutional buyers—pension funds, REITs, or large property groups—assess this shophouse as a long-term income-generating asset aligned with northeast corridor demographic density and transport resilience. For first-time commercial property buyers or upgraders from residential holdings, the price point, financing requirements, and operational complexity may pose barriers unless the buyer has prior hospitality experience or intends to retain an experienced property manager. Each profile should conduct tailored due diligence: owner-occupiers focus on operational fit; investors prioritise lease terms and tenant financials; institutions assess macro-economic resilience and portfolio diversification benefits.

What are the financing headroom and TDSR implications for buyers acquiring this S$12.98 million commercial property?

Commercial property financing for a S$12.98 million shophouse typically requires 30% to 40% equity contribution (S$3.9 million to S$5.2 million), with institutional lenders providing mortgages covering 60% to 70% of the property's valuation (approximately S$7.8 million to S$9.1 million). Unlike residential mortgages assessed on personal income, commercial lending emphasises the property's net operating income—primarily the existing tenant's lease payments—as the underwriting basis. Banks typically require debt service to be covered at least 1.25 times by the annual lease rental income, meaning a S$12.98 million property must generate minimum annual net rental income of approximately S$1 million to S$1.2 million to support a 70% loan-to-value mortgage. Total Debt Service Ratio (TDSR) caps that apply to residential borrowers do not directly apply to commercial acquisitions, but lenders still assess the buyer's overall leverage and cash flow serviceability. Buyers should budget for transaction costs (legal fees, stamp duty, valuation, searches) of approximately 2% to 3% of purchase price, requiring total capital commitment of roughly S$4.3 million to S$5.6 million at closing. Financing headroom depends heavily on the tenant's operational stability and lease payment history—strong tenants with multi-year leases provide tighter debt covenants and lower interest rates than volatile or short-term tenancies.

How does this property compare to other competing hospitality shophouses recently marketed or sold in Bishan and the northeast cluster?

The northeast corridor—encompassing Bishan, Toa Payoh, Ang Mo Kio, and Upper Serangoon—has seen a consolidation of hospitality retail as older standalone shophouses either convert to residential use or undergo mixed-use redevelopment. Competing properties in this cluster include food court shophouses, mid-range restaurant venues, and entertainment establishments, many trading in the S$8 million to S$15 million range. This property's established nightclub and premium F&B dual operation distinguishes it as a flagship-calibre venue, typically commanding premium positioning relative to smaller or single-concept competitors. Properties with similar operational maturity and tenant covenant strength have traded at multiples slightly above comparable vacant or distressed shophouses, reflecting the reduced de-risking for new operators. However, the intense competition from newer mixed-use developments in the northern precincts (such as Punggol and Sengkang) has moderated price escalation, keeping hospitality retail yields relatively stable and preventing speculative bubbles. Prospective buyers should benchmark this property against recent transactions in the Ang Mo Kio and Serangoon areas to validate whether the S$12.98 million price aligns with current market sentiment for comparable operational venues.

Which unit stack or floor level within this shophouse offers the best value and operational efficiency?

For a 4,500-square-foot hospitality shophouse, operational efficiency and customer experience depend heavily on spatial layout rather than which storey the unit occupies. Ground-level retail space commands premium lease rates (typically 20% to 40% above upper-floor equivalents) because it captures walk-in traffic, provides ease of customer ingress, and supports delivery operations for food and beverage inventory. However, if upper-level space is well-designed with direct staircase access and appropriate MEP (mechanical, electrical, plumbing) infrastructure for kitchen or bar operations, it can function effectively as overflow seating or private dining areas, justifying secondary-tier lease rates. The property's total 4,500 square feet likely spans multiple levels (ground floor and one or more upper storeys), and optimising revenue typically requires the ground floor to function as primary guest interface and bar service, with upper levels reserved for dining or entertainment with dedicated facilities. Value from an investor's perspective improves when the property is configured to maximise ground-floor activation and minimise vacant or underutilised upper space; this tends to enhance lease stability and rate negotiation power. Prospective buyers should examine the building's existing spatial layout and the current tenant's operational deployment across levels to identify whether the configuration supports the highest-and-best-use revenue model for the concept.

What is the outlook for future supply pipeline of hospitality retail in the Bishan district, and how might that affect this property's long-term value?

The Bishan district, like much of Singapore's mature residential heartland, faces constrained new-build hospitality retail supply because land costs, regulatory compliance burdens, and the economics of standalone shophouse construction make new development challenging. Most new commercial supply in the northeast is emerging as part of mixed-use residential-commercial complexes (such as integrated Transport Node development or Housing and Development Board commercial blocks), which compete for different tenant profiles than standalone shophouses. Consequently, existing operational hospitality retail properties—particularly those with established tenancy and strong location credentials—are increasingly scarce and valuable as operators struggle to secure suitable new premises. This scarcity dynamic supports stable-to-rising property values over the medium term, particularly if the tenant demonstrates durability and the property remains in good operating condition. However, if neighbouring mixed-use developments introduce competing F&B and entertainment venues, localised market saturation could moderate lease rate growth and complicate tenant re-tenanting scenarios. The property's long-term value trajectory is likely to remain positive given the supply constraints and Bishan's enduring status as a major transport and residential hub, but investors should monitor upcoming development plans in the immediate area and be prepared for moderated rental escalation if new competing hospitality retail emerges within a 500-metre radius.

Nightclub And Fnb Shophouse — From S$13M