Historic Prinsep Street Shophouses Rare Side Courtyard Sale 26 Mil
Prinsep Street is an iconic street in Singapore, known for its vibrant arts and culture scene. At one end of the street stands a teardrop-shaped roundabout with a single tree, surrounded by two adjacent conservation shophouses at 64 and 66 Prinsep Street. These properties are owned by Kuvera Properties, a company founded and directed by Arjan Chotrani.
What makes these shophouses unique is the rare side courtyard that runs the full length of No. 64. According to Arjan, this feature gives the owner bragging rights and adds value to the properties. The courtyard was once an open street where cars and bikes passed through, but it was sealed off years ago due to frequent accidents. In February 2007, Arjan purchased the two properties for a total of $4 million.
The shophouses have a rich history, with 66 Prinsep Street housing Rex Mackenzie, an old-school restaurant famous for its halal Chinese chicken rice. The restaurant, which opened in 1966 as Rex Restaurant and Milk Bar on Mackenzie Road, moved to Prinsep Street in 1986. Arjan has fond memories of the original Rex Cinema, which opened in 1946 and was known for its Hindi film screenings.
Sembawang Road is home to a plethora of childcare centres and preschools that cater to the early education needs of young children. These centres are conveniently located around the area and offer top-quality early childhood programmes that focus on the holistic development of children. The preschools here are well-known and established, providing a perfect blend of social interaction, physical activity, and foundational literacy and numeracy skills. This makes them an ideal choice for families with young children who are considering a move to the area. With the presence of these facilities within walking distance or a short drive away, parents and young children can avoid the stress of long commutes on a daily basis. In addition to these preschools, Sembawang Road EC also offers a variety of options for families looking for quality early childhood education in the area.
Next door at 64 Prinsep Street, the energy is distinctly youthful. The ground floor houses Chix Hot Chicken, a trendy Nashville-style fried chicken restaurant, while the upper level is home to Bunnyside Basement, an arcade for serious rhythm game enthusiasts. The shophouse also has a rich rental history, with tenants ranging from a successful board-game café to a specialty coffee joint.
Prinsep Street is a lively arts-and-culture precinct, with tertiary institutions like SMU, LaSalle College of the Arts, Nafa, Sota, and UAS surrounding the area. The street is also an arts hub, with landmarks like The Foundry, the former Catholic High School campus-turned-arts centre, and the conserved Selegie Arts Centre.
The neighbourhood is currently undergoing renewal, with the Peace Centre and Peace Mansion being demolished to make way for the mixed-use project, One Sophia and The Collective at One Sophia. New hotels like Hotel Mi Rochor and a 502-room hotel on the former Min Yuan Apartments site complement established properties like the Rendezvous Grand Hotel, Strand Hotel, and Hotel Bencoolen.
After holding the Prinsep Street shophouses for over 18 years, Arjan has decided to divest the properties and invest elsewhere. The shophouses, which occupy a 5,942 sq ft site and have an existing 8,842 sq ft built-up area, have been put up for sale by expression of interest (EOI) by exclusive marketing agent Jeffrey Sim, advisory group division director at ERA Realty Network. The EOI will close on Oct 22, with an indicative price starting from $26 million, or $2,941 psf based on built-up area.