Landmark Chinatown Asset Returns to Market at S$45 Million Offering Investors a Rare Opportunity to Acquire Three Adjoining Conservation Shophouses Under Single Ownership

SINGAPORE, July 16, 2026 /PRNewswire/ -- The Platinum, an iconic conservation asset located at 44, 46 and 48 Upper Cross Street in the heart of Chinatown, has been reintroduced to the market through an Expression of Interest (EOI) exercise at a guide price of S$45 million by exclusive marketing consultant, Brilliance Capital Pte Ltd, down from its initial S$55 million.

The Platinum offers investors the opportunity to acquire three adjoining four-storey conserved commercial shophouses with attic levels under single ownership—a configuration that allows investors greater scope to curate tenant mix, reposition the asset holistically, undertake phased enhancement works and create a unified identity for the property.

Positioned directly opposite Chinatown MRT Interchange and Chinatown Point, the property occupies 390 sqm (approximately 4,200 sqft) of land and provides 1,331.2 sqm (approximately 14,330 sqft) gross floor area. The asset currently comprises three ground-floor retail units and seventeen upper-floor studio units with immediate recurring rental income while preserving significant long-term asset enhancement potential. A lift serves all floors, a rare convenience in conserved shophouses.

Under URA's Master Plan 2025, the subject property is zoned for "Commercial" use, allowing for a wide range of uses including retail, F&B, wellness concepts, hospitality and office. Unlike residential acquisitions, commercial properties are not subject to Additional Buyer's Stamp Duty (ABSD), enabling investors, both local and foreign, to allocate capital more efficiently while diversifying into income-producing real estate. 

Its relaunch reflects a strategic repositioning in response to today's investment environment while recognising the enduring demand for quality conservation assets among sophisticated investors. 

Singapore's commercial conservation shophouses are increasingly viewed by family offices, private wealth managers and institutional investors as long-duration assets combining capital preservation, recurring income and scarcity. Unlike conventional commercial buildings that can be replicated, conservation shophouses are protected under Singapore's planning framework, ensuring that the supply of such assets remains inherently finite. As ownership becomes increasingly concentrated among long-term investors, opportunities to acquire sizeable portfolios or adjoining rows have become progressively less frequent.

The Platinum exemplifies this rarity.

Its location within the heart of Chinatown places it at the intersection of Singapore's financial district, tourism belt and one of the nation's most recognisable heritage precincts. Daily pedestrian flows generated by Chinatown MRT Interchange, Chinatown Point, the surrounding office population and a vibrant food-and-beverage ecosystem continue to underpin the property's long-term commercial relevance. Its prominent street visibility further enhances its branding potential.

Within minutes are Raffles Place, Telok Ayer, Clarke Quay, Outram Park and the future Greater Southern Waterfront growth corridor, positioning the asset to benefit from ongoing urban transformation while retaining the timeless appeal of Singapore's conserved heritage charm.

Recent transactions continue to affirm the resilience of Singapore's commercial conservation shophouse market, where well-located heritage assets have consistently attracted strong investor interest across both freehold and leasehold properties. 

In May 2026, a freehold three-storey corner conservation shophouse at 3 Keong Siak Road transacted for $22 million reflecting a rate of approximately $6,799 psf on gross floor area. Another similar intermediate conservation shophouse at 22 Keong Siak Road also changed hands in June 2026 at approximately $4,840 psf, further underscoring the robust pricing achieved by quality heritage assets within the Chinatown Historic District. Last week, a pair of freehold conservation shophouses at 136 and 138 Neil Road was reported to have transacted for $40.88 million, reflecting approximately $3,577 psf on gross floor area. The transaction further highlights the continued depth of investor demand for prime conservation assets in Singapore.

The leasehold market has also remained resilient. 116 Tanjong Pagar Road with a remaining lease term of approximately 62 years transacted in May 2026 at approximately $3,484 psf, demonstrating that well-positioned leasehold conservation assets continue to command healthy capital values where location, income profile and long-term fundamentals are compelling. 

Against these market benchmarks, The Platinum is being reintroduced at a guide price of $45 million, translating to approximately $3,140 psf based on its gross floor area.

"While every transaction should be assessed on its own merits – including tenure, location, asset configuration, tenant profile and income characteristics – the comparison highlights The Platinum's compelling relative value. With approximately 75 years of remaining lease tenure—surpassing the recent transaction at 116 Tanjong Pagar Road with a 62-year balance lease—The Platinum offers investors a compelling combination of long-term tenure, immediate income generation and an irreplaceable position directly opposite the Chinatown MRT Interchange.

"For the discerning investor, the remaining lease of this duration provides sufficient runway for multiple investment cycles at an attractive entry point materially below comparable freehold assets in the CBD. This compelling pricing differential creates a clear value proposition, allowing investors to secure a landmark income-producing asset with significant long-term upside," says Yong Choon Fah, Senior Associate Director of Brilliance Capital.

"Beyond its existing income profile, The Platinum also presents opportunities for future asset enhancement." 

The Urban Redevelopment Authority (URA) has indicated that it is prepared to consider proposals for alternative uses, including serviced apartments, where supported by a comprehensive formal A&A application and where such proposals satisfy prevailing planning, conservation and operational requirements. Any change of use would be considered on its individual merits and remain entirely subject to URA's formal approval.

Potential future concepts may include hospitality-led accommodation, boutique lifestyle offerings, wellness-related uses, professional offices, education-related facilities or other commercial concepts that complement Chinatown's continued rejuvenation.

For investors, this means The Platinum should not be viewed solely as an income-producing conservation property, but also as an asset capable of evolving alongside changing market conditions and occupier demand. Against a backdrop of resilient occupier demand, constrained supply and continued interest from family offices and private capital, The Platinum represents a rare opportunity to secure a landmark commercial conservation asset positioned for both immediate income and long-term value creation.

The Expression of Interest closes on 12 August 2026, Wednesday at 3:30 pm

Note to editors:

1. One photograph of The Platinum
2. Comparative Market Analysis Table
3. Video Link for The Platinum: https://youtu.be/Cd4ogZeNOXA

 About Brilliance Capital Pte. Ltd.

Brilliance Capital is a premier real estate agency specializing in bespoke advisory and transaction services for high-net-worth individuals, family offices, property developers, and institutions in Singapore and globally.

Founded and led by Sammi Lim, our team of top-tier professionals excels in selling and leasing luxury residential, commercial, and industrial properties, as well as collective sales. We also offer tailored consultancy and advisory services, addressing personal, professional, and investment needs with precision and care.

Backed by deep market insight and a robust international network, Brilliance Capital is dedicated to building lasting relationships and delivering exceptional real estate outcomes.

SOURCE Brilliance Capital