Type

Units

Min Area

Price Range

Studio

1173 sqft

S$2.5M

Other

1173 sqft

S$2.5M

Property Highlights

Commercial development with 3 units currently available.
Prices currently start from S$2.5M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$498K on this acquisition.
Located 6 min (510 m) from EW16 Outram Park MRT Station.

Price Trends & Rental Yield

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3 Everton Park: A Prime Commercial Shophouse Investment in Outram

3 Everton Park represents a compelling opportunity for investors and business operators seeking a ground floor commercial shophouse in one of Singapore's most vibrant business precincts. This fully renovated property spans 1,173 square feet and is currently structured as a three-unit retail tenancy, each with dedicated facilities and independent operational independence. The development's strategic positioning near Outram Park MRT station makes it an attractive proposition for those looking to capitalise on high foot traffic and proximity to the central business district.

Location and Accessibility

Situated just a six-minute walk from Outram Park MRT station (EW16), 3 Everton Park benefits from exceptional connectivity to Singapore's broader transport network. The location places tenants and customers within walking distance of multiple food centres and established retail precincts, creating a naturally high-footfall environment. Additional nearby MRT stations—Maxwell, Chinatown, and Tanjong Pagar—are all within a ten-minute radius, reinforcing the property's appeal to service-based businesses and retailers seeking maximum visibility and accessibility.

Property Structure and Facilities

The shophouse comprises three independently let commercial spaces, each equipped with its own bathroom facilities. The renovation programme has included upgraded flooring throughout, new air conditioning systems, and the installation of four dedicated washroom facilities serving the entire ground floor. A water point is available for tenant use, supporting both service-based and food-related operations. This thoughtfully designed layout accommodates diverse business models whilst maintaining tenant separation and operational efficiency.

Tenant Composition and Income Stability

The property currently operates under a multi-tenant model with units dedicated to healthcare services, traditional Chinese medicine provision, and personal wellness offerings. This diversification across complementary sectors mitigates single-industry risk and demonstrates proven market demand within the Everton Park location. The existing tenant agreements provide established income streams, offering purchasers immediate cash flow from day one of acquisition. The varied nature of the tenancies—spanning professional services, healthcare, and lifestyle sectors—reflects the inherent flexibility of the ground floor space and its suitability for a broad range of commercial uses.

Investment Considerations

Purchasers should note that the property is classified as a GST unit, which has implications for ongoing administration and tax compliance. Annual property tax is assessed at S$6,107.50, with monthly town council fees of S$258 (before GST), providing investors with clear visibility of holding costs. The lease tenure extends to 2083, offering substantial remaining lease length that maintains long-term asset value and refinancing accessibility. The established tenant base and diversified income structure provide a foundation for stable returns, whilst the property's high-street location supports the potential for rental optimisation or business owner occupation.

Suitability for Diverse Buyer Profiles

For property investors, the multi-tenant structure and proven rental income present an attractive yield opportunity relative to alternative commercial assets in the district. The property's strategic location ensures sustained demand from both occupiers and end-users, supporting long-term capital preservation. Owner-operators considering direct business ownership will find the space flexible enough to consolidate operations or adapt to evolving business needs. The Everton Park location attracts customers across multiple service verticals, reducing dependency on a single customer demographic or spending category.

The Everton Park Precinct

Everton Park has evolved into a mature commercial corridor characterised by diverse retail, F&B, and service provision. The surrounding neighbourhood combines residential density with office-based employment, creating consistent daytime and evening foot traffic. The presence of established food centres nearby enhances the location's appeal for F&B operators, whilst the professional services sector benefits from proximity to the financial district. This mixed-use environment supports both investment-focused purchasers and owner-operators seeking operational spaces with built-in customer reach.

Regulatory and Financial Framework

As a commercial property, this shophouse operates under Singapore's commercial conveyancing rules and stamp duty regime. Second property buyers should be aware that whilst this property does not attract Additional Buyer's Stamp Duty (as it is commercial rather than residential), standard conveyancing costs and commercial stamp duties apply based on the purchase price. Mortgage financing for commercial properties typically requires higher deposit ratios and may carry different lending criteria compared to residential assets. Prospective purchasers should engage a conveyancing lawyer early to understand the full cost structure and financing options available for commercial acquisitions at this price point.

Future Prospects and Value Retention

The lease tenure to 2083 ensures that the property maintains strong value retention and accessibility to mortgage financing well into the future. Outram's status as an established business and tourism hub, combined with ongoing public transport investment and CBD expansion, supports long-term demand for ground floor commercial space. The flexibility of the ground floor layout to accommodate different tenant mixes—from F&B operations to professional services—provides downside protection should the current tenant base evolve. The property's proximity to multiple MRT lines and major employment clusters positions it favourably within Singapore's evolving commercial real estate landscape.

Frequently Asked Questions

What rental yield can be expected if 3 Everton Park is purchased as an investment property?

The property currently generates approximately S$9,700 monthly in rental income across its three tenanted units, which translates to roughly S$116,400 annually before GST. At the asking price, this represents a gross yield in the region of 4.7 percent per annum, though the net yield after accounting for property tax, town council fees, and GST compliance will be moderately lower. Investors should note that the existing leases expire on staggered dates through 2028, meaning rental renewals and potential rate adjustments will occur within the next three to four years. The diversified tenant base across healthcare, wellness, and personal services sectors provides some stability against sector-specific downturns, though market conditions and tenant retention will influence future rental trajectories.

How does the per-square-foot pricing of 3 Everton Park compare to recent commercial sales in the Outram area?

At 1,173 square feet with an asking price of approximately S$2.49 million, 3 Everton Park is priced at roughly S$2,124 per square foot, placing it in the mid-to-premium segment for ground floor shophouses within the Outram and Tanjong Pagar corridor. Commercial properties in this precinct typically range from S$1,800 to S$2,400 per square foot depending on frontage quality, tenant lease length, and operational income. The fully renovated condition and multi-tenant income structure support the asking price relative to vacant or single-tenant comparables. Recent transactions in similar precincts have demonstrated that fully income-producing ground floor shophouses command a material premium over owner-occupied or vacant properties, reflecting investor demand for yield-generative assets in high-footfall locations.

Does 3 Everton Park attract Additional Buyer's Stamp Duty (ABSD) for second property purchases?

No, 3 Everton Park does not attract ABSD because it is classified as a commercial property rather than residential real estate. ABSD, currently levied at 20 percent for a Singapore Citizen's second residential property purchase, applies exclusively to apartments, flats, terraced houses, and other residential dwelling categories. Commercial shophouses, industrial units, and investment properties fall outside the ABSD regime. However, standard stamp duty will apply based on the purchase price, and buyers should confirm the exact conveyancing costs with a lawyer. Mortgage financing may also carry different criteria and deposit requirements compared to residential purchases, so early engagement with a lending institution is advisable to understand the total acquisition cost.

What is the lease decay risk for 3 Everton Park, and how does it affect resale value?

The property holds a lease tenure extending to 2083, representing a remaining lease length of approximately 59 years from the current date. This lease length is comfortably within the range where commercial financiers remain active and investors view the property as viable for medium-to-long-term hold periods. Unlike residential properties where lease decay becomes critical below 80 years remaining, commercial leaseholds typically remain financeable and saleable throughout their full tenure, though lenders may impose additional scrutiny below 60 years. The 2083 expiry date positions 3 Everton Park favourably for the next two to three decades of ownership, providing sufficient time to realise returns or execute strategic exits. Prospective purchasers should verify the precise lease mechanics and any renewal or extension provisions within the lease document, as commercial leases occasionally contain different termination and renewal structures compared to residential counterparts.

How does proximity to Outram Park MRT station influence demand and capital appreciation for commercial space at 3 Everton Park?

Outram Park MRT station (EW16) is a major interchange on the East-West Line and sits at a critical convergence of commuter flows, tourism, and CBD-adjacent business activity. The six-minute walk from 3 Everton Park to the station ensures that the property captures both foot traffic generated by MRT commuters and customers seeking services in this transit-rich node. MRT proximity historically drives sustained rental demand and capital value appreciation for ground floor commercial assets, as operators prioritise locations with high pedestrian throughput and accessibility. The presence of nearby Maxwell, Chinatown, and Tanjong Pagar stations further strengthens the precinct's transit connectivity, reinforcing long-term demand for commercial space. Properties within walking distance of major MRT hubs have demonstrated resilience in downturns and outperformance during periods of economic expansion, reflecting the enduring premium placed on transit accessibility in Singapore's commercial real estate market.

Which buyer profiles are best suited to 3 Everton Park: HNWs, upgraders, first-timers, or investors?

3 Everton Park is primarily suited to property investors seeking income-producing commercial assets with established tenant bases, rather than first-time buyers or residential upgraders, as it is a specialist commercial investment rather than an owner-occupied residential property. High-net-worth individuals deploying capital into diversified real estate portfolios will find the stable rental income and Outram location attractive, particularly those seeking yield-generative assets in premium business precincts. Property investment syndicates and institutional investors may also view the multi-tenant structure as providing operational diversification and risk mitigation. Owner-operators within healthcare, wellness, F&B, or retail services may consider consolidating their business into the property, leveraging the existing infrastructure and high-footfall location to establish or expand operations. First-time commercial property buyers should note that lending criteria, deposit requirements, and ongoing compliance obligations differ materially from residential acquisitions, requiring specialist advice on financing and tax structures.

What TDSR and financing headroom should purchasers anticipate at the current price point for 3 Everton Park?

Commercial property financing typically requires higher deposit ratios than residential mortgages, with lenders commonly seeking 25 to 30 percent equity injection upfront, compared to the 5 to 20 percent typical for residential purchases. At a purchase price of approximately S$2.49 million, this implies equity requirements of S$622,500 to S$747,000, with borrowing capacity of S$1.74 million to S$1.87 million depending on the lending institution and purchaser's credit profile. TDSR (Total Debt Service Ratio) assessments for commercial loans typically cap servicing costs at 30 to 35 percent of gross monthly income, meaning a purchaser would need to demonstrate monthly income sufficient to cover both the new mortgage and any existing debt obligations within these thresholds. The property's existing rental income of S$9,700 monthly may be recognised by some lenders as offsetting debt servicing costs, though policies vary by institution. Prospective purchasers should obtain pre-approval from a commercial lender prior to making an offer, as financing availability and terms vary based on individual credit profiles, income documentation, and the lender's appetite for the specific property type and location.

How does 3 Everton Park compare to nearby competing commercial developments in Outram and Tanjong Pagar?

The Outram and Tanjong Pagar corridor hosts a diverse range of commercial shophouses, conserved buildings, and more recent mixed-use developments, with price points ranging from approximately S$1.5 million to over S$4 million depending on size, condition, and income profile. 3 Everton Park's renovation quality and multi-tenant income structure position it competitively against vacant or owner-occupied comparables in the same precinct, whilst its three-unit structure offers greater operational diversity than single-tenant alternatives. Nearby conserved shophouses in Everton Park and adjacent streets typically command similar price ranges but may offer either superior heritage appeal or require more extensive refurbishment, affecting acquisition costs and resale positioning. The property's immediate accessibility to food centres and retail density gives it tactical advantages for F&B and personal services operators compared to properties in quieter secondary streets. Investors comparing 3 Everton Park to alternative commercial assets should evaluate lease length, tenant quality, lease expiry timing, and the breadth of potential occupier demand, as these factors drive medium-to-long-term value retention.

Which unit stack or floor level at 3 Everton Park offers the best value for owner-operators or investors?

3 Everton Park is structured as a ground floor shophouse, meaning the entire property operates on a single floor level dedicated to retail and commercial use. The ground floor position is operationally optimal for most commercial uses, particularly F&B, retail, personal services, and healthcare provision, as it provides direct street access, maximum visibility, and unrestricted customer flow. For investor purchasers seeking rental income, the ground floor location supports higher rental rates and tenant stability compared to upper floors or basements, as occupiers prioritise frontage and foot traffic. The property's configuration as three separate units allows operator-investors to consolidate one or more units for their own business whilst leasing the remainder to third parties, providing flexibility for mixed ownership and income strategies. Conversely, single-unit occupiers lose the income diversification benefit of the multi-tenant structure. There are no alternative floor levels within this property to compare, as it is dedicated to ground level commercial use.

What is the future supply pipeline in the Outram and surrounding districts, and how might this affect the long-term value of 3 Everton Park?

The Outram and Tanjong Pagar precincts are largely built-out and characterised by established, heritage-listed conservation buildings interspersed with modern mixed-use developments. Planning constraints and the conservation status of much of Everton Park itself limit large-scale new commercial construction, creating natural supply scarcity that supports long-term rental and capital values for existing assets. The Singapore government's broader focus on CBD densification and the expansion of the Marina Bay financial district nearby creates sustained demand for well-located commercial space within walking distance of MRT hubs. The absence of significant planned commercial redevelopment in the immediate vicinity means that 3 Everton Park is unlikely to face competition from newly built alternatives, a favourable dynamic for existing assets seeking to preserve or enhance rental rates. However, future economic downturns, shifts in work patterns towards remote arrangements, or significant consumer spending reductions could moderate demand for ground floor retail and service spaces. Long-term value retention is strongly supported by the property's lease tenure to 2083, the high barriers to new supply in the precinct, and the enduring importance of transit-accessible commercial space in Singapore's economic structure.

3 Everton Park — From S$2.5M