Anchorpoint shopping centre up for sale with S$295 million guide price
This works out to around S$3,751 per sq ft on its existing net lettable area of 78,636 sq ft
[SINGAPORE] Suburban retail mall Anchorpoint in the Queenstown area has been put up for sale via an expression of interest (EOI) with a guide price of S$295 million.
This translates to around S$3,751 per square foot (psf) on its existing net lettable area of about 78,636 square feet, said exclusive marketing agent CBRE on Thursday (Jan 29).
Located in Alexandra Road, the freehold shopping centre spans a land area of 507,508 sq ft, with a total strata area of 110,373 sq ft and gross plot ratio of 2.8. It comprises two prime retail levels spanning the entire ground floor and basement, a basement car park with 130 lots, and a stand-alone two-storey conservation building.
The development is directly connected to freehold condominium The Anchorage, which houses 775 units. There is also an overhead bridge that links it to Swedish furniture giant Ikea across the road.
“Strategic opportunity”
Anchorpoint recently had its mechanical and electrical infrastructure as well as its interiors upgraded, noted CBRE.
The shopping centre was previously owned by Frasers Centrepoint Trust, which divested it for S$110 million in March 2021.
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The mall currently has close to 60 tenants, including Cold Storage, McDonald’s, Cotton On, Yoga Movement and Common Man Coffee Roasters.
Clemence Lee, CBRE’s executive director of capital markets for Singapore, said that the tenant base builds a “solid foundation” that will provide “immediate and stable cash flow with momentum for significant growth in the future”.
He also noted a surge in demand from investors actively acquiring well-located suburban retail assets. “This trend is driven by the combination of high yields, strong fundamentals and stable, defensive cash flow these properties deliver.”
Recent transactions include Piccadilly Grand’s retail podium, Piccadilly Galleria, which was sold by City Developments Ltd and MCL Land for S$65.5 million or around S$3,250 psf in July 2025. The buyer was said to be Koufu Group.
In September 2025, UOL also divested Kinex mall for S$375 million. A few months later, in December, an entity linked to Zhao Zhichao of The Elegant Group was said to have inked a deal to buy The Clementi Mall for S$809 million or about S$4,100 psf from Cuscaden Peak Investments.
Most recently, in January, the manager of CapitaLand Integrated Commercial Trust said that it agreed to divest Bukit Panjang Plaza for S$428 million in cash.
Lee added that, with further retail transactions anticipated in the coming months, Anchorpoint stands as a "strategic opportunity”. Pointing to its freehold land tenure and prime location, he said that the asset could "attract significant investor interest".
The EOI exercise closes on Mar 10 at 3 pm.
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