Type

Units

Min Area

Price Range

Other

1600 sqft

S$4.7M

Property Highlights

Commercial development with 1 unit currently available.
Prices currently start from S$4.7M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$936K on this acquisition.
Located 7 min (550 m) from CC5 Nicoll Highway MRT Station.

Price Trends & Rental Yield

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Chenn Leonn Building: A Commercial Opportunity on Aliwal Street

Chenn Leonn Building stands as a notable commercial property offering on Aliwal Street, positioned within one of Singapore's most dynamic and accessible neighbourhoods. The development provides office space designed to cater to businesses seeking proximity to essential infrastructure, retail amenities, and transport connectivity. Located approximately seven minutes' walk from Nicoll Highway MRT Station (CC5), the building occupies a strategic vantage point that bridges residential and commercial zones whilst maintaining excellent accessibility for clients, employees, and visitors alike.

Location and Connectivity

The Aliwal Street address places Chenn Leonn Building in a neighbourhood characterised by mixed-use development and established commercial activity. The proximity to Nicoll Highway MRT Station provides reliable public transport access, connecting occupants to Singapore's wider Mass Rapid Transit network and enabling efficient commuter movements across the island. Walking distance from Bugis MRT Station further enhances the location's appeal, with the station serving as a major interchange and commercial hub. This dual-station accessibility reduces reliance on private vehicles and positions the building advantageously for businesses prioritising staff mobility and client convenience.

Retail and Amenity Landscape

The surrounding precinct offers comprehensive amenity coverage that supports both operational requirements and quality-of-life considerations for office occupants. Bugis Junction, a well-established shopping mall, provides immediate access to retail, dining, and entertainment facilities within close proximity. The area benefits from multiple supermarket options, including Cold Storage and Sheng Siong, enabling convenient procurement of provisions and everyday essentials. Educational institutions such as St. Margaret's Primary School feature in the neighbourhood, reflecting the area's established status and family-friendly character. This amenity density makes the location particularly attractive for businesses seeking vibrant, fully-serviced office environments with minimal commute friction.

Office Space Configuration

Chenn Leonn Building presents office accommodation across dimensions that provide scope for varied business configurations. The available space accommodates diverse operational scales, from independent practitioners to small-to-medium enterprises requiring collaborative work environments. The measured dimensions allow for flexible partitioning and layout adaptation to suit occupational requirements, whether for open-plan collaborative settings or compartmentalised professional spaces. Prospective occupants are encouraged to engage professional building surveyors to verify precise dimensions and assess suitability for specific operational fit-outs prior to commitment.

Investment Considerations and Buyer Eligibility

The building welcomes investment participation from both local Singapore residents and foreign investors, broadening the potential buyer and occupant base. The commercial classification and central location position units as potential investment vehicles for individuals seeking exposure to Singapore's office market sector. Commercial property investment in this location may attract different risk-return profiles compared to residential alternatives, with considerations around tenant quality, lease term length, and market demand for office space in the Bugis-Nicoll Highway corridor. Investors should conduct thorough due diligence regarding tenant covenants, lease structures, and anticipated holding periods prior to acquisition, particularly given evolving patterns in office space utilisation across Singapore's commercial sector.

Business Environment and Market Position

The Bugis-Aliwal Street area maintains its position as a significant commercial and retail destination within Singapore's central region. The neighbourhood continues to attract diverse business operations ranging from professional services to retail and hospitality sectors. The building's accessibility to transport, the density of retail facilities, and the established commercial character of the precinct provide a stable foundation for business occupancy. Companies operating from Chenn Leonn Building benefit from proximity to complementary businesses and a ready customer base drawn to the Bugis retail ecosystem.

Regulatory and Transaction Framework

Commercial property transactions in Singapore are governed by clear regulatory frameworks that protect buyer interests and facilitate transparent dealings. Prospective purchasers should engage qualified legal advisors to review all contractual terms, tenancy arrangements, and compliance obligations prior to completion. The commercial classification of the property is subject to relevant zoning and planning regulations, which should be verified independently. Financing arrangements for commercial property typically involve different loan structure considerations compared to residential acquisitions, and prospective buyers should engage financial advisors to assess optimal funding approaches aligned with their investment objectives and cashflow requirements.

Property Specifications and Due Diligence

The office space is measured at 1,600 square feet, providing a substantive floor plate suitable for various commercial applications. Rendered illustrations and marketing materials provided serve reference purposes only and should not be interpreted as precise representations of the finished space. Prospective occupants and investors are strongly advised to conduct personal site inspections and engage professional surveyors to confirm exact dimensions, condition, and suitability. Such due diligence protects buyer interests and ensures alignment between property specifications and operational or investment requirements.

Neighbourhood Character and Accessibility

The neighbourhood surrounding Chenn Leonn Building reflects Singapore's characteristic blend of residential and commercial development. The established character of the precinct, combined with ongoing retail and dining evolution, creates a dynamic environment attractive to businesses seeking central locations with authentic neighbourhood texture. The presence of schools, supermarkets, and entertainment facilities adds to the area's livability, which benefits commercial occupants seeking environments that support both professional productivity and personal convenience for staff and clients. The walkability of the neighbourhood, supported by proximity to two significant MRT stations, positions the building advantageously within Singapore's wider transport ecology.

Final Considerations

Chenn Leonn Building on Aliwal Street represents a meaningful commercial property opportunity within a well-established and accessible neighbourhood. The combination of central location, strong retail amenity provision, dual MRT station proximity, and welcoming investment policy creates a compelling proposition for owner-occupiers and investment-focused buyers alike. Prospective purchasers and occupants should engage appropriate professional advisors to verify all material facts, confirm regulatory compliance, and assess suitability aligned with their specific business or investment objectives. The building's positioning within Singapore's vibrant Bugis commercial ecosystem and its accessibility to wider transport networks support its appeal as a considered commercial property destination.

Frequently Asked Questions

What is the expected rental yield for Chenn Leonn Building office space if purchased as an investment?

Rental yield for commercial office space in the Bugis-Nicoll Highway corridor typically ranges between 3% and 5% gross yield, though this varies significantly based on tenant quality, lease term length, and prevailing market conditions. The immediate proximity to Bugis Junction and dual MRT station accessibility positions the building favourably within Singapore's office market, potentially supporting competitive rental rates for quality tenancy. Prospective investors should analyse comparable recent lettings in the precinct, assess tenant demand trends in the commercial office sector, and consider current office space utilisation patterns across Singapore when evaluating expected cashflow. Engagement with commercial property specialists familiar with this specific neighbourhood is essential to forecast realistic yield expectations aligned with current market fundamentals.

How does the per-square-foot pricing at Chenn Leonn Building compare to recent office transactions in the Bugis-Aliwal area?

Commercial office pricing in the Bugis-Nicoll Highway area has historically traded within the S$4,000 to S$6,500 per square foot range depending on specific location positioning, floor level, and lease structure. Chenn Leonn Building's 1,600 square foot configuration at the listed price point positions it within this competitive range, though exact comparative assessment requires verification of recent comparable transactions in the immediate precinct. The building's proximity to Bugis MRT Station and Bugis Junction retail amenities typically commands a premium relative to properties situated further from major transport nodes and retail concentrations. Prospective buyers should engage licensed property consultants specialising in commercial office transactions to obtain current market data on recent comparable sales and lettings within a 200-metre radius of the property.

What Additional Buyer's Stamp Duty implications apply if a Singapore Citizen purchases a second residential property in this building?

If a Singapore Citizen acquires a second residential property, Additional Buyer's Stamp Duty (ABSD) of 20% applies to the purchase price on top of standard Stamp Duty. However, Chenn Leonn Building is classified as commercial office space rather than residential property, which means ABSD considerations do not apply to this particular acquisition regardless of whether the buyer already owns other residential properties. The commercial classification places the property outside the residential property tax framework that triggers ABSD obligations. Prospective Singapore Citizen purchasers should confirm with their legal advisors that the commercial zoning of the property is correctly documented and that no residential conversion or mixed-use reclassification is anticipated, as such changes could have material tax implications.

Are there lease decay risks or resale value implications given the tenure structure of Chenn Leonn Building?

Chenn Leonn Building operates within Singapore's commercial property framework, which typically approaches lease structure and property rights differently from residential leasehold properties subject to lease decay concerns. Commercial office properties generally do not experience the same depreciation trajectory linked to declining lease duration, as investor and occupant valuations remain anchored to income generation, location utility, and business functionality rather than residential amenity decay. The building's positioning in a stable commercial precinct with established retail anchors and transport connectivity supports relative value resilience across medium-to-long holding periods. Prospective buyers should engage commercial property valuers to assess any specific tenure considerations unique to this property and to forecast long-term capital retention under various scenarios.

How does proximity to Nicoll Highway and Bugis MRT stations influence demand and capital appreciation potential?

Dual MRT station accessibility—within seven minutes' walk of Nicoll Highway (CC5) and mere minutes from Bugis—represents a material competitive advantage that typically supports sustained demand and capital retention across commercial office markets. MRT proximity directly influences occupant demand by reducing employee commute time and enabling seamless client access, factors that translate into premium rental rates and tenant retention. The Bugis station's function as a major interchange node further amplifies the location's appeal, positioning it within Singapore's premium office corridors and supporting expectations of appreciation alongside broader urban property value growth. Historical analysis of commercial property in similarly positioned MRT-proximate locations demonstrates resilience in capital values during market cycles, though prospective investors should remain alert to evolving office space demand patterns arising from hybrid working arrangements and remote work trends.

Is Chenn Leonn Building suitable for different buyer profiles such as owner-occupiers, upgraders, and investor syndicates?

The building accommodates multiple buyer profiles across distinct scenarios: owner-occupiers seeking central office space with premium accessibility and full amenity provision; investors targeting stable commercial cashflow through professional tenant occupancy; and potentially syndicated investment groups pursuing diversified commercial real estate exposure. Owner-occupiers benefit directly from the building's walkability, MRT proximity, and retail ecosystem, which enhance employee satisfaction and client experience without incurring additional transport-related costs. Investor purchasers are drawn to the established tenant demand in this commercial precinct, the quality of retail amenity infrastructure, and the relative stability of office space demand from professional service providers. Syndicated buyer structures can leverage the building's size and positioning to construct diversified portfolios blending commercial and mixed-use exposure. Each buyer profile should conduct tailored due diligence aligned with their specific holding objectives and exit planning timelines.

What are typical TDSR and financing headroom considerations for commercial office purchases at this development's price point?

Commercial property financing in Singapore typically involves different TDSR (Total Debt Service Ratio) considerations compared to residential acquisitions, with lenders generally assessing cashflow capacity based on expected rental income and occupant quality rather than owner-occupation mortgage servicing capacity. At Chenn Leonn Building's price point, prospective buyer-investors should expect loan-to-value ratios typically ranging from 60% to 75% depending on tenant covenant quality, lease term remaining, and lender risk appetite for the specific commercial asset class. Financing headroom analysis requires detailed assessment of projected rental income, vacancy risk assumptions, and maintenance/holding cost provisions, creating a more complex financial picture than residential owner-occupied scenarios. Prospective purchasers should engage commercial mortgage brokers and lenders specialising in office property to obtain accurate pre-approval guidance and structure optimal financing arrangements aligned with their investment cashflow expectations.

How does Chenn Leonn Building compare to nearby competing commercial developments in the Bugis-Nicoll Highway corridor?

The Bugis-Nicoll Highway commercial precinct includes established competing office developments offering varying configurations, lease structures, and amenity proximities. Comparable properties in the immediate area include converted shophouse offices, purpose-built commercial towers, and mixed-use developments with office components, each attracting distinct occupant profiles and investor types. Chenn Leonn Building's specific advantages centre on its walk-to-retail capability (Bugis Junction), dual MRT accessibility, and positioning within an established commercial district rather than a newly emerging corridor. Competitive assessment requires detailed comparison of recent rental transactions, occupancy rates across comparable developments, tenant quality distributions, and capital appreciation trajectories over preceding 3-to-5-year periods. Prospective purchasers and occupants should commission comparative market analysis from commercial property advisors familiar with individual buildings' performance histories within this competitive landscape.

Are specific floor levels or unit stack positions in the building likely to command premium value or present superior investment characteristics?

Commercial office space value within the Bugis precinct is typically influenced by multiple physical positioning factors beyond simple floor level hierarchy. Mid-range floors (typically 3rd to 8th stories) often command premium positioning by balancing natural light and view benefits against access to ground-floor retail and pedestrian traffic, which benefits service-based occupancies. Ground-floor and mezzanine office spaces may attract premium from retail-facing occupants seeking high street visibility and walk-in client access, though some occupants avoid ground floors due to noise and privacy considerations. Upper-floor positioning typically appeals to professional service providers seeking privacy and prestige, though accessibility considerations (particularly for clients with mobility constraints) may limit appeal. The specific architectural configuration of Chenn Leonn Building, including window exposure, ceiling heights, and internal column spacing, should be inspected directly to assess suitability for particular occupancy types. Prospective investors should engage commercial real estate specialists to assess which specific positions within the building likely command premium positioning for target occupant demographics.

What future supply pipeline and market development trends should be monitored for the Bugis-Nicoll Highway commercial district?

The Bugis-Nicoll Highway corridor continues to experience evolution through ongoing urban renewal, retail expansion, and commercial space repositioning, though the precinct's mature character and established tenant base provide relative stability compared to emerging commercial districts. Planned developments in adjacent areas, including the evolution of civic and cultural facilities, may introduce fresh occupancy demand or alter commuter patterns affecting the immediate Aliwal Street location. Office space demand across Singapore continues to normalise following pandemic-driven hybrid work adoption, with potential for selective demand for premium, well-located office space in accessible precincts whilst secondary locations face headwinds. Regulatory changes affecting commercial zoning, maximum building heights, or urban design frameworks in the Bugis precinct could influence future development intensity and competitive dynamics. Prospective long-term investors should monitor Singapore's broader commercial property market trends, monitor occupancy patterns in competing Bugis-area office buildings, and remain alert to potential urban renewal or transport infrastructure projects that might enhance or diminish the building's relative positioning within the district.

Office At Aliwal Street — From S$4.7M