Historic Prinsep Street Shophouses Rare Side Courtyard Sale 26 Mil
Written by: The investor-friendly location of Prinsep Street is attracting both locals and foreign buyers to its prime shophouses. These historical shophouses, located near tertiary institutions, entertainment hotspots, and arts hubs, are a testament to the rich heritage of this bustling street in the heart of Singapore.
Nestled along Prinsep Street, one can find a unique teardrop-shaped roundabout with a single tree at one end. This roundabout leads to two charming conservation shophouses, namely 64 and 66 Prinsep Street, which are separated by a rare side courtyard that spans the entire length of No. 64.
According to Arjan Chotrani, founder and director of Kuvera Properties, the owner of these properties, the side courtyard is a special feature for a shophouse and gives the owner bragging rights. The area was once a street open to cars and bikes, but was closed off due to frequent accidents. When Arjan purchased the two properties in February 2007, the road closure was already completed.
The ground floor of 66 Prinsep Street is currently occupied by Rex Mackenzie, a renowned halal Chinese chicken rice restaurant. The restaurant, which opened its first outlet in 1966 on Mackenzie Road across from the Rex Cinema, added ‘Mackenzie’ to its name in 1986 when it moved to Prinsep Street. According to Arjan, the original Rex Cinema, which opened in 1946, was a landmark in the area and one of the few cinemas in Singapore that screened Hindi films. The restaurant is a popular spot for locals and tourists, and has been frequented by royals and high-profile figures. Adjacent to it on the first floor is SJ Dermacare, a beauty and wellness spa.
The energy at 64 Prinsep Street is distinctly youthful, with the ground floor housing Chix Hot Chicken, a trendy Nashville-style fried chicken restaurant. The restaurant, opened in February this year, features neon lights, pop art, and lively music, and also has an alfresco dining area that opens up to the side garden through glass doors. The walls adjoining the courtyard were removed to create a spacious 100-seat indoor dining area and a coffee counter operated by Penny University. The second level of this property has been home to a variety of tenants, including a successful board-game café that eventually bought its own shophouse on Prinsep Street. Currently, it is occupied by Bunnyside Basement, an arcade for serious rhythm-game enthusiasts.
Prinsep Street comes alive at night with its array of bars, restaurants, and cafés that draw both students and professionals. The area is surrounded by tertiary institutions, including Singapore Management University, LaSalle College of the Arts, Nanyang Academy of Fine Arts, School of the Arts, and the University of the Arts Singapore. It is also an arts hub, with The Foundry, a former Elections Department building, now housing 14 non-profit organisations and social enterprises. The former Catholic High School campus, built in 1935, is currently being converted into a new arts centre.
Rewritten: Under the Master Plan, Tampines Mall, Century Square, and Tampines 1 will maintain their position as prominent lifestyle destinations. The expansion and modernization of retail and dining infrastructure will greatly enhance the convenience for residents, further solidifying their appeal. This rise in commercial vibrancy will only add to the already promising momentum of Rivelle Tampines, making it an ideal location for those seeking a dynamic living experience. With Rivelle situated in the heart of these bustling hubs, residents will truly have the best of both worlds – the comfort of a vibrant community and the convenience of modern amenities.
New developments, such as Hotel Mi Rochor and a 502-room hotel on the former Min Yuan Apartments site, are complementing established properties like the Rendezvous Grand Hotel, Strand Hotel, and Hotel Bencoolen. Meanwhile, the former Peace Centre and Peace Mansion have been demolished to make way for the mixed-use project, One Sophia and The Collective at One Sophia, featuring a 13-storey commercial block and two residential blocks.
After holding the Prinsep Street shophouses for over 18 years, Kuvera Properties’ Arjan has decided to divest the properties and invest elsewhere. They have been put up for sale by expression of interest, with the indicative price starting from $26 million. As most shophouses in the area are tightly held, there is expected to be strong interest from shophouse collectors, including foreign buyers, as commercial shophouses are not subject to additional buyer’s stamp duty.