🏢 Project View — 38 Circular Road

38 Circular Road is a 4-storey conserved shophouse (or heritage-style commercial building) located along the Singapore River — in the heart of the CBD/Boat Quay / Raffles Place precinct.

It offers versatile commercial units (office, retail, F&B, gym/fitness, etc.), making the building a flexible asset for different business types. As a heritage-style shophouse in a high-foot-traffic nightlife / office / tourist district, it blends charm, history and high visibility — providing a unique alternative to standard office towers.

• 2nd Floor :1087 sqft | Rental $10,000
• Estimated Availability Jan 2026

📍 Location & Connectivity

• Prime CBD / Boat Quay location — right beside the Singapore River and among heritage shophouses, retail, dining, nightlife, offices and tourist flow.

• Excellent MRT access — ~9 minutes walk (≈ 700-800 m) to City Hall MRT station / Raffles Place MRT station depending on route, and close to other transit lines via the CBD network.

• High footfall from office workers, tourists, F&B visitors — thanks to proximity to nightlife, dining, riverfront strolls, and the working CBD crowd.

• Rich surrounding amenities: banking, financial district offices, restaurants/bars/clubs along Boat Quay, tourist flow, convenience to main roads and transport arteries.

In short — 38 Circular Road offers full central-district connectivity, walkability, and proximity to both work and leisure anchors.

🛠 Product & Features

• Conserved 4-storey shophouse: heritage façade + multi-level structure, giving a unique building character compared with glass-tower offices.

• Flexible use / versatile unit type: Units at 38 Circular Road can be used for office, retail, F&B, fitness/gym, boutique studio or lifestyle business, subject to regulatory approval.

• Available small-unit floor area (~1,087 sqft) — an example listing shows a 2nd-floor commercial unit of 1,087 sqft, partially fitted with lighting, A/C, flooring — move-in ready for many small/medium-size users.

• Street-level access & frontage — building is right on Circular Road/Boat Quay stretch, meaning good visibility, pedestrian traffic and easy access from street or riverfront pathway.

• Mixed-use heritage charm + commercial practicality — property combines character and central-district demand, which appeals to businesses wanting more than standard office boxes.

📈 Investment & Appeal

Why 38 Circular Road can be attractive to investors / tenants:

• Location premium & scarcity — Well-located heritage shophouses in CBD / Boat Quay are limited; such properties rarely hit the market, giving premium value for tenants wanting centrality + character.

• High demand pool — The mix of office workers, tourists, expats, dining/nightlife visitors means tenants like retail, F&B, boutique services, creative agencies, and small firms can tap stable demand.

• Flexible unit sizes + flexible usage — Small-to-medium sized units allow investors/tenants to enter without paying for huge floor plates; good for SMEs, startups, boutique firms.

• Heritage & lifestyle value — For lifestyle-driven businesses (F&B, wellness, boutique retail), the conserved building offers ambiance that modern towers lack — a potential differentiator.

• Rental yield potential — Given high footfall, central location, and demand from F&B/retail/office sectors, rental returns could be attractive compared with mid-tier office spaces further from riverfront or CBD core.

• Exit & resale upside — As a heritage shophouse in a prime area, 38 Circular Road holds long-term value especially if redevelopment or gentrification in Boat Quay/CBD continues over time.

💰 Price & Unit Summary

Based on recent listing data:

• A 2nd-floor unit of ≈ 1,087 sqft is listed for rent at S$ 9,999/month, which works out to ≈ S$ 9.20 per sqft per month.

• For sale — the whole 4-storey shophouse (land area 1,141 sqft; built-up about 4,402 sqft) was recently listed with a asking price of S$ 30,000,000 (i.e. ~ S$ 26,293 per sqft of land) as of late 2025.

• The building’s mixed-use zoning and flexible strata (or floor-by-floor) layouts allow for multiple use cases — retail shop, boutique office, F&B, fitness, showrooms, or specialty services.

For tenants or investors: small units offer lower entry cost and manageable commitments; larger ownership (whole building or multiple units) offers long-term capital value.

✅ Key Takeaways for Investors / Buyers (or Tenants)

• 38 Circular Road offers a rare combination of heritage character, prime CBD/Boat Quay location, and flexible commercial usage — appealing for boutique offices, F&B, retail or lifestyle businesses.

• Small-unit entry makes it accessible for SMEs, startups or small retail/F&B operators — lower barrier to entry compared with large office floors.

• Strong demand from offices, tourists, nightlife and finance-sector employees helps maintain steady footfall and rental / occupancy potential.

• For long-term hold or buy: the heritage building + scarcity in core zone could offer capital appreciation and rental stability.

• Investors/tenants should consider lease structure, fitting costs, and business use compliance (especially for F&B or high-traffic retail) — but the location and building features provide a robust foundation.

🔎 Quick Comparison Highlight — 38 Circular Road vs Other Commercial Buildings / Shophouses in Area

38 Circular Road
→ 4-storey conserved shophouse on Boat Quay/Riverfront
→ Small-unit flexibility, heritage vibe + CBD connectivity
✔ Best for boutique offices, retail/F&B, lifestyle services, small firms

Typical CBD Office Tower (e.g. Raffles Place)
→ Large floor plates, corporate-grade facilities, high rents
✔ Best for large firms, corporate HQ, institutional tenants — less suitable for boutique demand

Generic Shophouse Cluster (older stock)
→ Lower price point, heritage charm, but perhaps dated infrastructure or less optimal location
✔ Best for budget-sensitive tenants who don’t need premium finishes

Retail-heavy strip buildings along major roads (non-riverfront)
→ High pedestrian traffic, visible frontages, lower cost than waterfront
✔ Good for retail, but less attractive for clients wanting heritage + riverfront appeal

Mixed-use condos with shopfronts (outside CBD)
→ Lower price but less foot-traffic, fewer office/work population nearby
✔ Better for neighbourhood retail/service, not high-walkin tourist or corporate demand