Prime 999-year commercial asset gains repositioning potential for hotel, hostel and serviced apartment conversion
Singapore, 9 June 2026 –ETC, as the sole marketing agent, announced today that the Expression of Interest (EOI) exercise of 402 North Bridge Road will be extended to 9 July 2026, 3pm. The extension follows the URA’s announcement on 5 June 2026 of the new planning guidelines that now allow greater flexibility for ‘Hospitality’ uses within Beach Road and Upper Circular Road street blocks.
Launched on 12 May 2026, the EOI exercise for 402 North Bridge Road was originally scheduled to close on 11 June 2026.
Located on a prominent corner plot with dual frontages along North Bridge Road and Seah Street, the six-storey building sits directly beside Raffles Hotel and commands excellent visibility within the City Hall-Bugis precinct. The property also offers potential naming and signage rights – a coveted branding opportunity in Singapore’s tightly held city area.
The property has a 999-year tenure – near freehold-equivalent, with a site area of approximately 3,268 sq ft and gross floor area of approximately 17,729 sq ft.
On 5 June 2026, URA announced that new hotels, backpackers’ hostels and serviced apartments can be considered within the Upper Circular Road and Beach Road street blocks. The move is intended to provide property owners and developers greater flexibility to pursue short-term accommodation projects, which were previously generally not allowed in these areas.
As 402 North Bridge Road is strategically located within the Beach Road street block, it stands to benefit from an expanded range of potential uses, strengthening its appeal to investors and developers.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at ETC, a member of Realion Group, says, “
This announcement comes very timely. Over the past few weeks, we have received overwhelming enquiries from both local and foreign investors on this prime asset, including several parties who are keen to explore adaptive re-use of the existing commercial building for hotel use.
She continues, “The relaxation in planning guidelines now provides regulatory assurance for such change-of-use proposals. The policy shift enhances the long-term attractiveness of the asset, given the wider range of value-creation opportunities now. The extension of the EOI exercise will allow interested parties additional time to fully evaluate the property and formulate their proposals.”
“We are excited and welcome the easing of restrictions on new hotels in heritage precincts at Beach Road and Upper Circular Road. As lifestyle and travelling trends evolve, visitors increasingly seek diverse and centrally located accommodation options that are near civic and cultural districts and well-served by MRT accessibility. Introducing new lifestyle and hospitality offerings will spur greater vibrancy and higher footfall, ultimately driving an uplift in capital values of the properties in these precincts,” adds Ms Swee.
Under the 2025 Master Plan, the site is zoned for ‘Commercial’ use and hence, open to both local and foreign buyers. The property is not subject to any Additional Buyer’s Stamp Duty or Seller’s Stamp Duty.
The indicative guide price is S$70 million, reflecting S$3,948 per sq ft on the gross floor area.
402 North Bridge Road is located within a precinct anchored by prominent landmark developments such as Raffles Hotel, Raffles City, Bugis Junction, CHIJMES, The Capitol, South Beach, DUO and Suntec City. The area has also seen continued rejuvenation in recent years with the completion of The M and Guoco Midtown, alongside the upcoming completion of the new Shaw Tower later this year.
Well-served by an extensive array of amenities in the surrounding precinct, the property also benefits from exceptional connectivity. Located within approximately 400 m of four MRT stations serving four MRT lines, it offers convenient access to the CBD, Orchard Road shopping belt and the rest of Singapore.
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