Six freehold shop units, 592 to 4,898 sqft, 700 m from Tan Tock Seng Hospital. District 12 retail has averaged about S$2,400 psf against about S$4,600 in District 11, only 200 m away.
How to read this. Each small dot is one recent sale nearby, plotted by price per square foot (8 sales). The gold dot is this unit's asking price per square foot. The tick marks the median, so half the sales sold for more and half for less. A dot to the left of gold sold for less per square foot. It compares price per square foot only: it does not account for floor, view, condition or renovation, and it is not a valuation.
Actual caveats near the subject, median S$2,323 psf. See each sale. Source and date are with the table below.
| Level | Size | Price | PSF | MCST / mo | Property tax / yr | Status |
|---|---|---|---|---|---|---|
| Level 1 | 1,539 sqft | S$5,386,500 | S$3,500 psf | S$1,482/mo | S$689/mo | Road frontage; water point; URA lists Restaurant as allowed |
| Level 1 | 3,983 sqft | S$9,240,560 | S$2,320 psf | S$3,828/mo | S$1,917/mo | Tenanted to Dec 2028; Water pointNet ≈ S$15,012/mo after MCST + tax (21% of rent) · ~1.9% net at asking |
| Level 1 | 861 sqft | S$2,152,500 | S$2,500 psf | S$828/mo | S$225/mo | GST applies; no water point; faces the building entrance; beside the 592 sqft unit |
| Level 1 | 592 sqft | S$1,479,999 | S$2,500 psf | S$570/mo | S$183/mo | GST applies; no water point; faces the building entrance; beside the 861 sqft unit |
| Level 1 | 775 sqft | S$2,092,500 | S$2,700 psf | S$744/mo | To confirm | Water point |
| Level 2 | 4,898 sqft | S$8,400,070 | S$1,715 psf | S$4,716/mo | S$1,450/mo | Tenanted to Jul 2028; Water point; office use allowedNet ≈ S$13,163/mo after MCST + tax (27% of rent) · ~1.9% net at asking |
Every unit offered, with its asking price. Asking prices per the seller's price list dated 30 Sep 2026, not valuations. Unit numbers are withheld from marketing and shared with qualified buyers. Verify current availability with Andrea before offering. MCST and property tax per the seller's price list of 30 Sep 2026 (seller's figures, to be checked against IRAS notices).
Net = stated rent less MCST and property tax, before GST, loan, fees and vacancy. Yield basis (CEA): gross yield = annual rent as stated above (passing or projected, per the stated basis) ÷ the stated asking price; net yield is after property tax (a flat 10% of Annual Value), MCST/service charge and outgoings. These are historical/indicative, not a forecast or a guarantee of return — verify the tenancy and the IRAS Annual Value independently before relying on them.
Illustration only, not a quote or a forecast. Default rate = 3-month SORA 1.266% (MAS, 23 Oct 2026) plus an assumed 1.5% bank margin; your bank decides. Repayment includes principal. Cash in = price less loan, before stamp duty, GST and legal fees.
Why the return looks modest: in my view, freehold usually costs more than a comparable leasehold unit, so the same rent gives a lower yield. You are paying for a title that does not run down. Judge it on the monthly cash flow you can hold, not the yield alone.
| Level 1 · 3,983 sqft · let | S$9,240,560 · rent S$19,000/mo · expiry Dec 2028 · ~2.47% gross yield at asking |
| Level 2 · 4,898 sqft · let | S$8,400,070 · rent S$18,000/mo · expiry Jul 2028 · ~2.57% gross yield at asking |
| Both let units together | S$17,640,630 · rent S$37,000/mo · ~2.52% gross yield at asking |
| Level 1 · 861 sqft · owner-occupied | S$2,152,500 · leaseback rent the owner would ask S$3,500/mo, if the buyer wants tenancy in place · ~1.95% gross (not in place) |
| Level 1 · 592 sqft · owner-occupied | S$1,479,999 · leaseback rent the owner would ask S$2,500/mo, if the buyer wants tenancy in place · ~2.03% gross (not in place) |
| Level 1 · 775 sqft · owner-occupied | S$2,092,500 · leaseback rent the owner would ask S$3,200/mo, if the buyer wants tenancy in place · ~1.83% gross (not in place) |
| Level 1 · 1,539 sqft · vacant | S$5,386,500 · the owner would look for a tenant at about S$8,000/mo · ~1.8% gross (a target, not in place) |
Passing rent and expiry as given by the seller's agent on 9 Oct 2026, from the seller's tenancy table. Tenant names are withheld. Gross yield is annual rent divided by the asking price, before property tax, maintenance and other outgoings. Confirm current tenancy status with Andrea before relying on any figure.
Yield basis (CEA): gross yield = annual rent as stated above (passing or projected, per the stated basis) ÷ the stated asking price; net yield is after property tax (a flat 10% of Annual Value), MCST/service charge and outgoings. These are historical/indicative, not a forecast or a guarantee of return — verify the tenancy and the IRAS Annual Value independently before relying on them.
Balestier Point is in District 12. The nearest District 11 address found is about 200 m away, a 3.5 minute walk. REAL Agent's chart of retail resale prices shows District 12 averaging about S$2,431 psf and District 11 about S$4,645 in 2026, a ratio of about 1.9 that has held since 2011. An average of past sales across sizes and tenures, not a forecast. The shops here ask S$1,715 to S$3,500 psf.
Built on 5,790 sqm of freehold land. REAL Agent's list for this building (9 Oct 2026) shows 30 resales of shop units since Jan 2012, 8 of them since Oct 2021. Smaller units trade most; the largest have traded rarely. Land URA has sold at tender lately has been 99-year lease. Freehold is not unique on this road (Balestier Plaza, The Mezzo and Okio are freehold too), so compare size mix, price per square foot and resale record. Small Level 1 units traded at S$2,527 to S$2,598 psf in Aug 2024; a Level 2, 5,608 sqft unit sold Sep 2022 at S$1,926 psf.
OneMap's drive routes join the CTE about 0.8 km from the building and the PIE about 2.5 km away. Orchard is about 10 minutes by car (5.1 km) and Raffles Place about 10 minutes (6.4 km), free-flow. There are 6 public carparks within 400 m, and season parking for tenants and owners is about S$110 a month.
No train at the door: Farrer Park MRT is about a 15 minute walk (Novena about 16). But LTA's Jun 2026 data shows 7 bus stops within 400 m, about 7,840 people alighting on a weekday and 8,072 on a weekend, peaking at 7pm. It shows commuter flow, not customers inside the building.
In Balestier, 26% of residents are 60 or older (index 117) and 8.5% are aged 0 to 9 (index 90). Across the Novena planning area, 34.5% of working residents earn $10,000 a month or more (index 192). Census 2020. Income is earnings, not spending.
Tan Tock Seng Hospital, a 17 ha campus 0.7 km away with more than 11,000 staff, saw admissions and outpatient visits grow about 5% a year from 2020 to 2024. About 40% of emergency patients were 65 or older in 2024. NHG Health plans a Medical Tower with about 600 more beds, to be completed beyond 2030. It is a plan: no start date or job numbers have been given.
In my view: health shops and services near a large hospital; tuition and learning centres, which URA lists as commercial school use with instant approval on four units; food, with one unit allowing a restaurant; offices on Level 2. Central aircon runs weekdays 9am to 6pm and Saturday 9am to 1pm, with none on Sunday, so evening and Sunday trades should check after-hours cooling. Student care and childcare are unproven here: fewer young children live in the subzone, and school-based centres charge about S$250 a month. Which tenant do you have in mind?
OpenStreetMap lists 13 hotels and hostels within 500 m (21 within 1 km), at least 5 fitness and yoga studios, 4 learning or preschool centres and 3 vet clinics along Balestier Road within 1.2 km, and about 15 lighting and bathroom shops within 400 m. Volunteer-mapped, so directional. In my view, guests, learners and pet owners are customers for units here.
The 1,539 sqft Level 1 unit has road frontage and a water point, and URA SPACE (9 Oct 2026) lists Restaurant as allowed, subject to clearances from other agencies. That suits an owner-operator, not only an investor.
Commercial units are open to foreigners and carry no ABSD, but CPF cannot be used, so buyers need cash or a loan. Smaller tickets trade most often. Past sales are not a forecast; check REALIS before you rely on any exit price.
Most strata shopping centres are quiet, here and elsewhere. Knight Frank has pointed to split ownership with no single landlord running and marketing the mall. So do not buy this for passing trade. In my personal opinion, the reason to look is that you own a share of freehold land in a commercial and residential building, and owners of buildings like this have tried to sell together. Reported tries: Upper Serangoon Shopping Centre launched for a collective sale at a S$260 million guide in Apr 2026; City Plaza reached the consent needed on its third try; Far East Shopping Centre's sale fell through twice in 2024; Balestier Centre on this road went to tender in Jul 2026 at a S$180 million guide, and I have not seen the result. Some fail. Any sale is subject to the authorities' approval and the owners' consent, and no sale has been launched for this building.
My personal opinion only, and any redevelopment is subject to the authorities' approval and the owners' consent. The facts: URA SPACE shows commercial and residential zoning at plot ratio 3.0, and the building already uses about that (17,371 sqm on 5,790 sqm of land), so there is no spare floor area to count on. Collective sales need 80% consent today. A 2026 law reported as passed on 8 Sep 2026 lowers it to 70% for buildings aged 40 to 59 years and 65% for 60 and over, from a start date the Minister announces; I could not confirm a start date. Check this building's age on its title before counting on either threshold.
Photos taken 9 Oct 2026, in haze. Tenant signs, unit numbers, phone numbers and vehicles with plates are blurred or cropped out for privacy; tone corrected only, nothing added or removed. Unit interiors to follow.
Plans from the building's brochure with every unit number removed. Only the units on offer carry their area; areas are approximate and subject to survey. Not to scale.
OneMap routing, LTA DataMall, SingStat Census 2020, and OpenStreetMap contributors (ODbL), as of 9 Oct 2026. OpenStreetMap counts depend on how completely volunteers have mapped the area, so read them as directional. Drive times are free-flow estimates.
Tap a category to see just those pins on the map.
OneMap-routed distances/times; ratings via Google Places, indicative and subject to change.
🚌 Bus is the practical link:
Times are indicative — weekday 08:30 for public transport (OneMap routing); drive times are off-peak, no live traffic — both vary with actual conditions.
| Street | Sold | Tenure | psf (land) |
|---|---|---|---|
| Balestier Point shops this listing, asking prices | Advertised | Freehold | S$1,715–S$3,500 |
| Level 1 shop, 538 sqft, same building URA record | Jul 2026 | Freehold | S$2,323 |
| Level 1 shops, 269 and 355 sqft, same building URA record | Aug 2024 | Freehold | S$2,527–S$2,598 |
| Level 2 shop, 5,608 sqft, same building URA record | Sep 2022 | Freehold | S$1,926 |
| Office-strata unit, 506 sqft, Balestier Plaza (0.4 km) URA record | Sep 2026 | Freehold | S$2,323 |
| Level 2 unit, 969 sqft, The Mezzo (0.26 km) URA record | Jul 2026 | Freehold | S$1,652 |
| Shop, 388 sqft, Balestier Plaza (next building, 0.4 km) lowest recorded sale, EdgeProp | Apr 2026 | Freehold | S$2,271 |
| District 12 retail resale, average REAL Agent chart, 2026 trendline | 2026 | All tenures | ~S$2,431 |
| District 11 retail resale, average REAL Agent chart, 2026 trendline; 200 m away | 2026 | All tenures | ~S$4,645 |
From REAL Agent's transaction list for this building (9 Oct 2026), which combines URA records with agency records, EdgeProp's URA sales list, and REAL Agent's district chart. All sales shown are URA records as displayed on EdgeProp on 9 Oct 2026; verify on REALIS. Units differ in level, size and frontage, and smaller units trade at higher psf than larger ones, so these are references, not a valuation of any unit offered here.
Indicative only — confirm stamp duty, GST & apportionment with your lawyer / IRAS.
| Claim | Figure | Where it holds | Source |
|---|---|---|---|
| Private-sector retail space vacancy was 7.0% in 2Q 2026, up 0.6 points from 6.4% the quarter before (SingStat). | 7.0% | island | SingStat, available and vacant commercial/industrial space (private sector) [1] · as at 2026-11-01 |
Figures are quoted or counted from the sources shown, at the narrowest scope they support -- never an unqualified 'only'.
NHG Health and the Straits Times (9 Sep 2025): admissions and outpatient visits grew about 5% a year from 2020 to 2024; about 40% of emergency patients were 65 or older in 2024, up from about 30%. A TTSH Medical Tower with about 600 more beds is proposed, to be completed beyond 2030. No job numbers or start date have been given. Years of construction can bring noise and disruption before any benefit.
URA data via EdgeProp, Q2 2026: retail vacancy outside the city core rose from 7.9% to 8.3%, against a rise from 4.1% to 5.2% in the suburbs and 6.4% to 7.0% islandwide. Cushman and Wakefield expects new retail supply of about half the usual amount through 2031. Island office vacancy is 11.0% (CBRE on URA), so the soft spot is offices, not shops. Market-wide figures, not for this building. Which risk matters more for your trade?
LTA DataMall, Jun 2026: 7,840 on a weekday and 8,072 on a weekend, with the busiest hour at 7pm and about 3,444 arrivals across weekday dinner hours. These are commuter arrivals at bus stops. Which part of that evening crowd does your trade serve?
Master Plan 2025, now gazetted: a new Newton urban village with homes, about 1.9 km away, and a 12-hectare Toa Payoh integrated development with sports and healthcare, expected by 2030. URA's pages do not describe Novena itself.
Sourced, past-tense data. Not a forecast, an assurance of return, or financial advice. Verify independently before relying on any figure.
Published government plans near this property — the facts, with sources. What they mean for value is a question worth asking.
URA retail price index sat at 105.5 in Q3 2026 (+1.1% QoQ, +5.8% YoY) (URA via data.gov.sg).
URA retail rental index printed 81.2 in Q3 2026 (+1.4% YoY) (URA via data.gov.sg).
SingStat's Retail Sales Index printed 102.6 in Aug 2026 (+0.7% YoY).
Novena has an estimated ~19,300 resident households (~8,900 condo, ~2,500 landed) (SingStat GHS 2025).
Singapore households spend on clothing: HDB 4-rm ~$73, condo ~$158, landed ~$198/month (SingStat HES 2023).
Singapore households spend on furnishing & household equipment: HDB 4-rm ~$285, condo ~$568, landed ~$1,578/month (SingStat HES 2023).
Who actually lives here — this subzone, Census 2020.
How to read this. The line in the middle is the Singapore average, set to 100. A bar to the right means more of that age group live in this area than the national share (idx 113 means 13% more); a bar to the left means fewer (idx 78 means 22% fewer). The percentage is that group's share of local residents. Residents are not the same as the people who would visit or work here, and the figures are from Census 2020.
34.5% of employed residents in Novena earn S$10,000+/month (idx 192, above SG avg).
~7% of Novena households span 3 or more generations (indicative — OneMap Census 2020).
Income here runs above the Singapore average — what does that change about the price point this catchment supports?
General market information on this page was last updated on 1 Nov 2026.
The real number, what it means here, and the question it leaves you with.
Not quite the one? A few more from the current collection in a similar bracket — happy to walk you through any of them.
For buyers who haven't transacted before: the resale journey, stage by stage.
Indicative for a non-residential resale purchase — GST timing and any ABSD depend on the specific unit; see the numbers section above. Confirm with your lawyer.
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