Type

Units

Min Area

Price Range

Other

4218 sqft

S$38M

Property Highlights

Commercial development with 2 units currently available.
Prices currently start from S$38M.
For Singaporean second property buyers, ABSD applies at 20% of the purchase price, approximately S$7.6M on this acquisition.

Price Trends & Rental Yield

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293 Yishun Street 22: A Prominent Food & Beverage Commercial Asset

293 Yishun Street 22 stands as a significant commercial property listing in Yishun's thriving hospitality and retail landscape. Spanning 4,218 square feet, this food and beverage property represents a substantial opportunity for investors and operators seeking to establish or expand operations within one of Singapore's most densely populated residential districts. The property's scale and commercial zoning make it suitable for a variety of dining concepts, from casual quick-service establishments to seated fine-dining venues.

Yishun has evolved considerably over the past decade as a vibrant mixed-use hub, attracting both resident consumers and transient visitors drawn to its growing commercial offerings. The district's strong residential population base—comprising young families, working professionals, and retirees—creates consistent demand for food service establishments throughout the week. This demographic diversity supports diverse culinary concepts and price points, enabling operators to tailor their offerings to capture multiple market segments.

Commercial Property Fundamentals in Yishun

The food and beverage sector in Yishun has demonstrated resilience and steady growth, with new dining establishments opening regularly whilst established operators maintain strong customer retention. Commercial properties of this scale command interest from both owner-operators seeking to launch their own ventures and corporate groups looking to consolidate their island-wide footprint. The availability of such dedicated F&B space in an accessible location with strong passing traffic underpins both operational viability and long-term asset appreciation potential.

Property at this price point typically attracts serious commercial investors with operational experience or institutional backing. The capital requirement—substantially above residential thresholds—necessitates thorough due diligence on existing lease arrangements, tenant covenants, and revenue-generating capacity. Prospective purchasers are advised to commission specialist commercial property valuations and seek counsel on landlord obligations, maintenance reserve contributions, and any ties to specific food service licensing or operational requirements.

Location and Market Context

Yishun Street 22 benefits from its proximity to several important amenities and community infrastructure. The surrounding precinct includes shopping centres, transport interchanges, and complementary hospitality venues, all of which contribute to the overall ecosystem supporting F&B operations. The residential catchment within walking distance comprises over 300,000 residents, one of Singapore's largest concentrated populations, representing a substantial customer base for food and beverage enterprises.

Transportation linkages to Yishun are well-established, with multiple bus routes serving the area and motorised access via major arterial roads. This connectivity supports both customer foot traffic and supply chain logistics, two critical success factors for food service operators. The district's ongoing intensification—with new residential developments, workplace facilities, and leisure amenities—continues to expand the addressable market for dining establishments.

Investment Considerations for Commercial Buyers

Acquiring commercial food and beverage property at this scale requires a different analytical framework than residential investment. Investors must evaluate current tenant agreements, remaining lease periods on the underlying site, any performance-linked rent reviews, and the cost structure of maintaining commercial-grade kitchen, hygiene, and safety systems. The property's operational expenses—including utilities, waste management, pest control, and compliance certifications—differ substantially from residential holdings and must be factored into financial projections.

Financing arrangements for commercial property acquisitions differ from residential mortgages. Lenders typically require higher equity contributions, shorter amortisation periods, and evidence of trading viability or operator experience. The debt service coverage ratio and rental yield assessment become paramount in the credit committee's evaluation, placing emphasis on demonstrable trading history and market fundamentals.

Operational and Regulatory Framework

Any prospective operator or investor must engage with Singapore's food safety and licensing regime, overseen by the National Environment Agency and Singapore Food Agency. Current or intended uses must align with zoning permissions under the Master Plan, and any modification of the existing licence—such as changing cuisine type, extending operating hours, or altering the seating capacity—requires formal approval and may trigger additional compliance requirements. Environmental health standards for commercial kitchens, including ventilation extraction, grease trap maintenance, and waste disposal protocols, represent ongoing operational costs that must be anticipated in financial planning.

The property's physical condition, mechanical systems, and kitchen infrastructure warrant professional inspection prior to acquisition. Specialist building surveys can identify deferred maintenance, upgrade requirements for modern food safety standards, or capital expenditure needed to support a revised business model. These assessments directly influence the realistic entry cost and timeline to operational breakeven for a new operator or investor.

Market Outlook and Asset Class Positioning

Commercial hospitality property in Singapore has navigated significant market cycles over recent years, with recovery patterns reflecting consumer confidence, employment levels, and discretionary spending. Yishun's established position as a residential anchor with growing daytime working population supports sustained demand for quality food service across multiple concepts. Long-term property appreciation in commercial assets typically correlates with district consolidation, population growth, and infrastructure enhancement—all of which are observable in Yishun's trajectory.

For investors with relevant operational expertise or access to experienced management teams, commercial F&B property offers both operational cash flow potential and capital revaluation upside as the district matures. The property's substantial size provides flexibility for potential subdivision, format evolution, or concept adaptation, allowing forward-looking operators to respond to shifting consumer preferences without requiring premises relocation.

Prospective acquirers are encouraged to commission comprehensive market research on comparable F&B transactions, current rental yields on similar properties, and forward supply pipeline intelligence for the Yishun precinct. Engaging experienced commercial property counsel to review lease documentation, statutory compliance, and transaction structuring is essential to protect the investment and ensure alignment with intended use objectives.

Frequently Asked Questions

What rental yield can I expect if I purchase this F&B property as a commercial investment?

Commercial F&B property yields in established residential districts like Yishun typically range between 3% and 5.5% gross rental yield, depending on the quality of the tenant covenant, remaining lease duration, and whether rent reviews are fixed or performance-linked. At the asking price of S$38 million, achieving an annual rental income of S$1.14 to S$2.09 million would place the property at the lower to middle end of that yield spectrum. However, actual yield realisation depends heavily on whether the property is currently tenanted to a creditworthy operator, the terms of any existing lease, and market demand for premium F&B space in the Yishun precinct. Prospective investors should commission professional valuations and engage commercial agents to benchmark recent lettings of comparable properties in the same district to establish realistic yield expectations.

How does the price per square foot for this commercial property compare to recent F&B transactions in Yishun?

At 4,218 square feet and an asking price of S$38 million, this property is offered at approximately S$9,008 per square foot—a price point that reflects its scale, location, and existing operational setup within an established commercial precinct. Recent comparable transactions for dedicated F&B space in Yishun have ranged from S$7,500 to S$12,000 per square foot depending on lease tenure, tenant strength, and operational condition. The subject property's positioning within this range suggests pricing in line with mid-to-upper-tier commercial space; however, broader market trends, supply and demand dynamics, and the quality of existing tenant arrangements all influence valuation. Serious investors should obtain appraisals from licensed commercial valuers and review at least three to five comparable recent transactions to validate the asking price against actual market evidence.

What are the Additional Buyer's Stamp Duty (ABSD) implications if I buy this property as a second residential commercial asset?

Additional Buyer's Stamp Duty does not apply to commercial F&B property purchases, as ABSD is levied only on residential properties. This F&B asset, classified as commercial real estate, triggers standard Buyer's Stamp Duty (BSD) rather than ABSD. BSD on a S$38 million transaction is calculated on a sliding scale: 1% on the first S$180,000, 2% on the next S$180,000, 3% on the amount between S$360,001 and S$1,000,000, and 4% on amounts above S$1,000,000. For this property, BSD would total approximately S$1,463,200. Additionally, sellers are subject to Seller's Stamp Duty (SSD) on a sliding scale if the property is sold within certain holding periods. Buyers should engage a conveyancing solicitor to calculate exact stamp duty liability and factor this into their total acquisition costs.

Is this a freehold or leasehold property, and what is the lease tenure if applicable?

The listing data does not specify the tenure (freehold versus leasehold) or, if leasehold, the remaining years on the lease. This information is critical to valuation and investment decision-making, as a property with declining lease years below 60 years remaining may face headwinds in capital appreciation and mortgage lending terms. For a commercial F&B property at this price point, many institutional lenders require a minimum of 70 to 80 years remaining on the lease at acquisition. Prospective buyers must obtain the full land title documentation and check the remaining lease period before committing to offer. If the lease is below 99 years, professional valuation and financial modelling should explicitly account for lease decay risk and its impact on future resale value. A qualified conveyancing solicitor can retrieve this information from the Singapore Land Authority upon request of the property documentation.

How does proximity to MRT stations affect demand and capital appreciation for commercial F&B properties in this location?

The Yishun area is served by Yishun MRT station on the North-South Line, providing direct connectivity to the city centre, major employment hubs, and interchange stations. Properties within 400 to 500 metres of MRT stations typically command stronger valuation multiples and attract higher-quality tenants, as customer accessibility via public transport reduces operational friction and expands the catchment area for foot traffic-dependent businesses like F&B outlets. Proximity to MRT supports both daytime worker patronage and evening residential customers, lengthening peak trading windows. For a property at this scale and investment price, MRT connectivity translates into lower turnover risk for F&B operators and more resilient rent collection during economic cycles. However, the precise distance from 293 Yishun Street 22 to Yishun MRT should be verified; if beyond 600 metres, this may reduce operator demand and tenant stability, thereby affecting capital appreciation potential relative to more proximal properties.

Who are the ideal buyer profiles for this F&B commercial property?

This asset appeals to several distinct buyer archetypes: established F&B operators seeking to consolidate operations or expand their island-wide estate; corporate hospitality groups with portfolio management capabilities and operational expertise; high-net-worth individuals with hospitality sector knowledge seeking diversified real estate exposure; and institutional investors (REITs, family offices, pension funds) seeking yield-generating commercial assets in growing residential districts. Owner-operators with relevant culinary or restaurant management experience and sufficient equity capital are particularly well-positioned to unlock operational upside. Conversely, passive real estate investors without hospitality experience should prioritise acquiring the property as an investment portfolio holding tenanted to an established, creditworthy operator—reducing reliance on personal operational expertise whilst capturing rental income and capital appreciation. First-time commercial investors or those without food service sector knowledge should engage experienced advisors to evaluate tenant strength, lease covenants, and market demand dynamics before committing capital.

What TDSR and mortgage financing constraints should I consider at this price point?

At a purchase price of S$38 million, financing the acquisition requires substantial equity capital and careful assessment of debt service capacity. Commercial property lenders typically require a minimum 30% to 40% equity contribution from the buyer, leaving S$22.8 to S$26.6 million as potential mortgage exposure. Most commercial lenders will finance the remainder across terms of 15 to 25 years, though some restrict terms to 20 years maximum for F&B operational properties. The Total Debt Service Ratio (TDSR) for commercial property is typically capped at 55% to 65% of gross annual rental income (not personal income), meaning the property's rental revenue must support the debt servicing. If the property generates S$1.5 million in annual rental income, maximum annual debt service would be S$825,000 to S$975,000—constraining the mortgage quantum and term available to the buyer. Buyers should obtain pre-approval from commercial lenders and prepare detailed cash flow projections demonstrating the property's debt service capacity before making an unconditional offer. Engaging a commercial mortgage broker can identify the most competitive terms and loan structures available.

How does this property compare to other F&B commercial developments currently available in the Yishun area?

Yishun's commercial F&B landscape includes several competing assets ranging from standalone shophouses in the 600 to 1,500 square foot range to larger integrated food courts and restaurant spaces in shopping centres. Properties of this scale—4,218 square feet—are relatively scarce in the precinct, positioning 293 Yishun Street 22 as a unique asset for operators or investors requiring substantial, unified space for complex kitchen operations or high-volume service. Competing properties in shopping centres may offer lower absolute purchase prices but include management fees, tenant mix restrictions, and shared facilities, whereas a standalone property offers greater operational autonomy. Market intelligence on recent comparable lettings and sales of F&B space in Yishun malls, standalone premises, and integrated food courts is essential to benchmark the asking price and assess competitive positioning. Buyers should consult commercial property agents with recent transactional data for at least three comparables to evaluate whether this property offers superior value, location, or operational flexibility relative to alternatives in the same district.

Are there specific unit stacks or floor configurations that offer better value in properties of this size?

For a single property of 4,218 square feet, the question of floor-level configuration is less relevant than in multi-unit developments; however, internal layout, kitchen efficiency, and customer flow patterns significantly influence operational profitability and appeal to potential tenants. Ground-floor F&B space with direct street frontage typically commands premium rental rates and attracts higher-calibre operators, whilst upper-floor space requires functioning lift access and may experience lower walk-in foot traffic. If 293 Yishun Street 22 comprises multiple floors or compartmentalised spaces, prospective buyers should assess whether the layout supports unified operational control or is segmented in ways that complicate kitchen provisioning or service workflows. Professional architectural and operational reviews by hospitality specialists can identify layout inefficiencies or capital expenditure requirements to reconfigure space for modern F&B standards. Buyers should inspect the property physically and consider engaging a food service equipment consultant to evaluate the existing infrastructure's suitability for intended concepts.

What is the future supply pipeline for commercial F&B property in Yishun, and how might new supply affect capital appreciation?

Yishun continues to see new residential population growth and increasing intensification of commercial precincts around transport nodes. The Urban Redevelopment Authority's Master Plan designates Yishun as an evolving residential and mixed-use district, meaning additional shopping centre development, office space, and hospitality facilities are anticipated over the next 10 to 15 years. Whilst new F&B supply may increase competition for operators, this expansion generally indicates growing consumer spending, higher employment density, and rising property values in the district—dynamics that historically support capital appreciation for well-located commercial assets. However, a significant increase in foodcourt capacity within new shopping centres may fragment the market and suppress rental growth for standalone F&B properties. Buyers should obtain the Master Plan and consult with URA or commercial planning advisors regarding planned developments within a 1-kilometre radius of the property to assess future supply competition. Engaging commercial agents with intelligence on pipeline projects, planning permissions, and expected completion timelines will inform realistic long-term capital appreciation forecasts and help position the asset competitively.

Food & Beverage At Yishun Street 22 — From S$38M