This new development will include two towers with an estimated 541 residential units and two levels of shops.

For the past 10 years, Former JCube has been a popular spot offering leisure and edutainment activities to Singaporeans and tourists alike. With its closure in August this year, it will make way for Former JCube, a 40-storey residential and commercial development. Developed by CapitaLand Development (CLD), this development will have two towers featuring 541 residential units, as well as two levels of shops. As CLD mentioned, the provisional permission from Singapore’s Urban Redevelopment Authority to redevelop the JCube site was granted on Tuesday (Feb 7). Thus, with this new residential and commercial development, Former JCube Singapore will be undergoing a major facelift.

Located in the Mount Sophia area within the prime district of District 9, 31 Niven Road sits on a regular-shaped plot of land with a width of 11.7m, and a length of 106m. Recent sales transactions in the vicinity include a freehold corner terraced house at 18 Jalan Senang, off Niven Road, which was sold for $4.3 million ($2,722 psf on land area of 1,579 sq ft) in May 2020; and another detached house at 21 Jalan Senang, which fetched $4.85 million ($2,232 psf on land area of 2,173 sq ft) in December 2020.The expression of interest exercise for the freehold conservation shophouse at 31 Niven Road in District 9 will close on June 6 at 4pm. The guide price for the property, which has a land area of 1,249 sq ft and a built-up area of 2,077 sq ft, is $5.2 million, or $4,163 psf on the land area.

Situated in District 9, the Mount Sophia area’s 31 Niven Road features a freehold conservation shophouse up for sale via an expression of interest exercise. The property has a regularly-shaped plot of land with a width of 11.7m, and a length of 106m, and is priced at guide price of $5.2 million; or $4,163 psf on the land area.

The shophouse was newly renovated, with the owner spending over half a million on installation of Miele kitchen equipment and other improvements to the open-concept living, dining and kitchen area on the first floor and a courtyard. It has a built-up area of 2,077 sq ft and two en suite bedrooms and a family area on the second floor.

Claire Lim from Huttons Asia, the agency in charge of marketing the property, believes this is a competitive price for such a prime, freehold landed property. “The price of $2,503 psf on the strata area is similar to new city-fringe launches in 2023,” he adds.

Recent sales transactions in the vicinity affirm the attractiveness of the property. Notably, a corner terraced house at 18 Jalan Senang was sold for $4.3 million ($2,722 psf on land area of 1,579 sq ft) in May 2020, and another detached house at 21 Jalan Senang fetched $4.85 million ($2,232 psf on land area of 2,173 sq ft) in December 2020.

Lee Sze Teck, Huttons’ senior director of research, believes the rarity of residential shophouses presents potential for capital appreciation in the mid to long term. This, together with the appreciation of landed home prices of almost 50% in the last five years, should be of particular interest for prospective buyers.

The EOI exercise will close on June 6 at 4pm. Those interested should act fast in securing this attractive freehold conservation shophouse at 31 Niven Road, for capital appreciation and close proximity to District 9 attractions.