Type

Units

Min Area

Price Range

Other

4218 sqft

S$38M

Property Highlights

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.
Located 14 min (1.18 km) from NS13 Yishun MRT Station.

Price Trends & Rental Yield

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

293 Yishun Street 22 represents a significant commercial real estate opportunity within Yishun's dynamic business landscape. This food and beverage property spans 4,218 square feet, offering an expansive platform for established operators or investors seeking a substantive commercial footprint in the district. The property's scale and configuration provide flexibility for both traditional dining concepts and contemporary culinary ventures looking to establish a strong operational base.

The location on Yishun Street 22 positions the property within a corridor that has experienced consistent commercial development over the past decade. Yishun itself has evolved from a predominantly residential enclave into a mixed-use neighbourhood with thriving commercial, retail, and hospitality sectors. This transformation has attracted both independent operators and established F&B brands seeking accessible, affordable space compared to prime Central Business District alternatives. The street-level presence on Yishun Street 22 ensures natural customer flow and visibility from the surrounding neighbourhood.

Connectivity and Market Accessibility

Situated approximately 1.18 kilometres from Yishun MRT station (NS13), the property enjoys a walking distance of roughly 14 minutes, which remains reasonable for food and beverage operations where customer convenience is paramount. The North-South Line connection provides direct access to the city centre, making the location particularly attractive to lunch-hour clientele working in the Central Business District or Marina Bay areas. This connectivity also facilitates staff commuting and supply chain logistics, both critical operational factors for F&B businesses managing daily inventory and service demands.

The proximity to Yishun MRT station has supported consistent foot traffic growth throughout the precinct over the past five years. As Singapore's public transport infrastructure continues to support suburban commercial nodes, properties within this catchment have demonstrated resilience and steady customer acquisition. The station's integration with multiple bus services further enhances accessibility, extending the effective catchment area for casual diners, workers, and tourists exploring the northern districts.

Commercial Viability and Operational Potential

The 4,218 square-foot footprint provides ample space for diverse F&B concepts, from casual dining and quick-service restaurants to more elaborate fine-dining establishments requiring separate kitchen, preparation, and storage areas. This scale eliminates the spatial constraints that smaller commercial units impose, allowing operators to implement sophisticated kitchen workflows, private dining areas, or event spaces that command premium pricing. The property's dimensions are particularly suited to concepts that require substantial food production capacity or those targeting medium to large group bookings.

Yishun's demographic profile—a blend of young families, established professionals, and increasingly, younger professionals seeking affordable neighbourhood living—creates a receptive market for diverse dining experiences. Schools, offices, residential blocks, and retail centres within walking distance generate consistent traffic throughout the day. Unlike highly competitive precincts such as Robertson Quay or Clarke Quay where commercial rents have compressed margins, Yishun offers opportunities for operators to maintain healthy profit ratios whilst offering competitive customer pricing.

Investment Considerations for Commercial Property Buyers

Prospective purchasers evaluating this property should consider both the owner-occupier and investment-lease scenarios. F&B commercial properties can generate substantial rental yields when leased to experienced operators under long-term agreements, though lease terms, break clauses, and tenant stability require careful due diligence. The capital value of commercial properties is intrinsically linked to the strength of the underlying lease, rental benchmarks within the precinct, and the creditworthiness of any tenant occupying the space.

Commercial property financing typically follows different lending criteria than residential purchases, with banks assessing cash flow potential, comparable rental data, and the strength of any existing lease agreement. Loan-to-value ratios for commercial properties are often conservative—typically 60–70% of the valuation—meaning substantial equity commitment from the purchaser is expected. Additionally, commercial properties do not benefit from the grant schemes or concessionary lending rates available to first-time residential homebuyers, so financing costs should be incorporated into the investment analysis.

The Yishun Commercial Precinct

Yishun has undergone significant transformation as Singapore's economic geography has redistributed commercial activity beyond the central business core. The completion of the Northpoint shopping centre redevelopment and ongoing mixed-use projects has reinforced the district as a secondary commercial hub with favourable rental economics. Compared to established commercial precincts in the east or west, Yishun offers landlords and operators the advantage of lower absolute rents whilst maintaining access to a sizable, growing customer base.

Future infrastructure developments in the broader North region—including transport links and residential intensification—are likely to support sustained demand for neighbourhood-scale commercial space. The distinction between this property and smaller units within shopping centres is the independence and customisation afforded by a standalone commercial footprint, a feature particularly valued by operators with specific operational or branding requirements.

Valuation and Market Positioning

The asking price reflects the property's substantial size, corner positioning, and strategic location within an established commercial corridor. When assessed on a per-square-foot basis, this metric can be benchmarked against comparable recent transactions within Yishun and adjacent commercial precincts to evaluate whether current market positioning aligns with recent sales evidence. Commercial property valuations are inherently more volatile than residential, as they fluctuate with lease rates, tenant creditworthiness, and macroeconomic conditions affecting consumer spending.

Prospective buyers should engage qualified commercial property valuers and conduct thorough financial due diligence, including historical trading records (if applicable), lease terms, rental benchmarks, and tenant payment histories. This information provides the foundation for confident investment decision-making and supports bank financing applications, which invariably require independent valuations and financial feasibility assessments.

293 Yishun Street 22 presents a meaningful commercial property opportunity for experienced operators, institutional investors, and owner-occupiers seeking a substantial footprint within an accessible, growing neighbourhood. The scale of the space, connectivity to public transport, and the precinct's demographic resilience combine to create a compelling proposition for parties with the capital and expertise to activate this asset successfully.

Frequently Asked Questions

What rental yield can an investor expect from 293 Yishun Street 22 if leased to an F&B operator?

Commercial property yields in Yishun typically range from 3–5% gross, depending on lease terms, tenant creditworthiness, and market conditions at the time of leasing. A property of this scale and visibility may command competitive rental rates within the Yishun precinct, though the yield ultimately depends on the strength of any lease agreement negotiated with a prospective operator. Net yields (after outgoings, maintenance, and tax) are typically lower, usually between 2–4%, and investors should ensure that projected rental income covers financing costs and provides adequate margin. Engagement with a commercial property manager experienced in Yishun F&B space is advisable to benchmark realistic rental expectations against recent comparable lettings.

How does the per-square-foot pricing of this property compare to recent F&B transactions in Yishun?

Without access to a comprehensive recent transaction database, a qualified commercial property valuer or agent with specific Yishun transaction records should be engaged to benchmark this property's asking price against recent comparable sales of similar-sized F&B spaces. Commercial property pricing in Yishun has generally remained stable over the past two years, though individual transactions vary widely based on lease status, tenant presence, and site-specific factors such as frontage quality and visibility. The property's 4,218 square-foot scale is relatively substantial compared to many retail or F&B units, which may command a premium on a per-square-foot basis due to economies of scale and operational flexibility. Comparing this property to recent standalone commercial sales (rather than units within shopping centres) provides the most meaningful valuation benchmark.

What are the Additional Buyer's Stamp Duty implications if purchasing 293 Yishun Street 22 as a second residential property?

For a Singapore Citizen purchasing a second residential property, Additional Buyer's Stamp Duty (ABSD) is levied at 20% of the purchase price, calculated on a tiered basis. However, it is important to clarify that 293 Yishun Street 22 is classified as a commercial food and beverage property, not a residential property, which means ABSD does not apply—the property falls outside the residential stamp duty framework entirely. Buyers should confirm the property's formal classification and land use designation with the Urban Redevelopment Authority (URA) to ensure no residential tax implications arise. If the property has any residential component or if zoning regulations permit residential conversion, professional tax and legal advice should be obtained to clarify potential future ABSD exposure.

Is there lease decay risk, and how might it affect long-term resale value?

The lease tenure structure of 293 Yishun Street 22 should be clarified with the seller's legal counsel, as land lease terms are critical for commercial property valuations and resale prospects. If the property is held on a 99-year lease, lease decay becomes a consideration over very long time horizons (typically 20+ years), though commercial properties are not as susceptible to rapid value erosion as residential properties nearing lease end. Properties on 999-year or freehold tenures avoid lease decay concerns entirely. A diminishing lease can eventually restrict refinancing and resale options, so prospective buyers should obtain a detailed lease report and seek legal advice on lease extension provisions or renewal rights available under the property's title. Commercial property valuers will adjust their assessments for lease length, so this factor should be transparent in any valuation process.

How does proximity to Yishun MRT station (NS13) influence demand and capital appreciation prospects?

Properties within 15 minutes walking distance of an MRT station typically command a premium compared to more distant locations, as tenant accessibility and customer walk-in traffic are materially enhanced. Yishun MRT station (NS13) on the North-South Line provides direct connectivity to the CBD, which supports both operator interest and customer foot traffic from workers and commuters. Over the past five years, Yishun has seen steady intensification of residential units and mixed-use development, driving sustained demand for neighbourhood retail and F&B space. Capital appreciation in this precinct has been gradual rather than explosive, reflecting its positioning as a secondary commercial node—however, structural supply constraints and continuing population growth in the North region suggest long-term demand resilience. Properties with this combination of transit connectivity and established foot traffic tend to maintain valuations better than peripheral commercial locations during economic slowdowns.

Is this property suitable for different buyer profiles—HNW investors, upgraders, first-time buyers?

293 Yishun Street 22 is primarily suited to commercial investors, established F&B operators, and high-net-worth individuals seeking to acquire a standalone commercial property as a portfolio holding or business platform. This is not a residential property, so the traditional upgrader-downgrader narrative does not apply; buyers require commercial property experience, operational expertise in food and beverage, or investment capital to hold and lease the asset to operators. First-time property buyers without commercial experience would face a steep learning curve in acquisition, financing, regulatory compliance, and ongoing management, so this property is not recommended for that segment. Institutional investors with diversified real estate portfolios, or established restaurant groups seeking to own their flagship location, represent the most natural buyer profiles for this property.

What financing headroom and TDSR considerations apply at this property's price point?

Commercial property financing is more conservative than residential, with banks typically offering loan-to-value ratios of 60–70%, meaning the buyer must fund 30–40% of the purchase price from own capital. At the property's price point, a 65% LTV would require approximately 35% equity contribution upfront, alongside stamp duty and legal costs, representing a substantial capital commitment. Banks will require a commercial property valuation, financial feasibility assessment (if owner-occupied), and tenant lease documentation (if investment-let), all of which extend the approval timeline. TDSR (Total Debt Service Ratio) for commercial loans is typically assessed differently than residential mortgages; lenders focus on the property's projected rental income or operational cash flow rather than the buyer's personal income, so qualification criteria are distinct. Prospective buyers should engage a commercial mortgage broker early to clarify available terms, rates, and approval pathways.

How does 293 Yishun Street 22 compare to nearby competing F&B commercial developments?

Yishun's commercial landscape includes several mixed-use developments and shopping centres offering F&B space, such as Northpoint, which provide smaller modular units with shared facilities and lower absolute rent commitments. The key differentiation of 293 Yishun Street 22 is its standalone footprint, substantial size (4,218 sqft), and independence from shopping centre lease terms and operating hours restrictions. This property allows operators complete autonomy over branding, operating hours, kitchen design, and customer experience—freedoms not available within managed retail environments where landlord covenants and co-tenant dynamics impose constraints. For operators with specific operational requirements, established brand reputations, or bespoke kitchen configurations, standalone space often justifies a higher occupancy cost through superior profitability and customer acquisition potential. Comparative analysis should weigh the trade-offs between the lower rent and shared services of shopping centre space against the operational flexibility and brand differentiation of standalone premises.

Are certain unit stacks or floor levels within this property better positioned for value or operational efficiency?

As a single commercial unit of 4,218 square feet, 293 Yishun Street 22 does not present multiple floor levels or stacks in the traditional sense; however, the unit's layout, frontage exposure, and floor level relative to street level should be assessed carefully. Street-level or near-ground-level positioning is typically preferable for F&B operations, as visibility, pedestrian access, and ambient marketing are maximised. If the property spans multiple floors or has mezzanine areas, the proportion of space allocated to customer dining, kitchen operations, and storage affects operational efficiency and profitability—open-plan ground-floor configurations usually outperform split-level layouts for food and beverage. Prospective buyers should review detailed architectural drawings and physically inspect the property to assess column placement, ceiling heights, kitchen infrastructure, and customer circulation patterns, as these physical attributes directly influence the viability and profitability of different F&B concepts.

What is the future commercial supply pipeline in Yishun, and how might it affect long-term demand for this property?

Yishun has several mixed-use projects in the pipeline or recently completed, including residential redevelopments that will bring additional population to the district, supporting ongoing neighbourhood retail and F&B demand. The broader North region (including Sembawang, Yishun, and Woodlands) is identified within Singapore's long-term urban planning framework as a growth corridor, which suggests sustained investment in transport, residential, and commercial infrastructure over the next decade. However, new shopping centre completions and increased supply of modular F&B units may create additional competition for operators and potentially moderate absolute rental rates in the precinct. Investors in standalone properties like 293 Yishun Street 22 benefit from differentiation relative to new shopping centre space, particularly as brand operators and independents seek to differentiate themselves from standardised retail environments. The property's value proposition will remain strongest if surrounding population growth is sustained and if neighbourhood commercial supply remains relatively constrained compared to population increases.

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