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999-Year Commercial Building Beside Raffles Hotel Launched for Sale at $70 Milion

13 May 2026 · PropTeam Research

A six-storey 999-year leasehold commercial building at 402 North Bridge Road has been put up for sale via EOI with a guide price of $70 million. Located next to Raffles Hotel Singapore, the property enjoys strong frontage along North Bridge Road and Seah Street, and is expected to attract investors and owner-occupiers seeking a prime asset in Singapore’s Bugis-City Hall precinct.

A rare 999-year leasehold commercial property in Singapore’s Civic and Bugis precinct has been launched for sale via expression of interest (EOI). The six-storey asset at 402 North Bridge Road — currently known as Jun Xin Building — carries a guide price of $70 million, translating to approximately $3,984 psf based on its existing gross floor area (GFA) of about 17,729 sq ft.

Positioned on a prominent corner site of approximately 3,268 sq ft and zoned “Commercial” under the URA Master Plan with a plot ratio of 4.2, the property enjoys dual frontage along North Bridge Road and Seah Street. Its highly visible position next to the iconic Raffles Hotel Singapore places it within one of Singapore’s most established lifestyle, tourism, and commercial districts.

The building sits within walking distance of several major MRT interchanges, including Bugis MRT Station, City Hall MRT Station, and Esplanade MRT Station, offering strong accessibility for office users, hospitality concepts, medical suites, educational operators, or flagship retail occupiers. The surrounding area is also anchored by key commercial and lifestyle destinations such as Bugis Junction, Suntec City, and the National Library Building.

In Singapore’s tightly held commercial shophouse and freehold/long-tenure strata market, assets with prominent frontage, naming rights, and immediate proximity to globally recognised landmarks remain highly sought after. Market observers note that buildings in the Beach Road–Bugis–City Hall corridor continue to attract interest from family offices, boutique hospitality operators, private wealth investors, and owner-occupiers seeking long-term capital preservation alongside rental upside.

According to Swee Shou Fern, head of investment advisory at ETC (Realion Group), the property is expected to appeal to both investors and end-users, particularly given the opportunity for branding exposure through exclusive naming and signage rights — a feature increasingly valued in Singapore’s prime commercial districts where visibility and corporate identity can command a premium.

The EOI exercise will close on June 11 at 3pm.