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Anchorpoint Review

Anchorpoint Review
Retail & Commercial Property Review — District 3

Anchorpoint

A conserved-heritage neighbourhood mall on Alexandra Road, anchoring the Queenstown–Redhill retail catchment.

SGCPI Research Desk Updated August 2026 370 Alexandra Road, Singapore 159953 ≈99-YR LEASEHOLD FROM 1994

Street-level view of Anchorpoint, 370 Alexandra Road. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameAnchorpoint
Address370 Alexandra Road, Singapore 159953
DistrictDistrict 3 (Alexandra / Queenstown / Tiong Bahru)
Tenure≈99-yr leasehold from 1994 (est.)
Zoning / UseCommercial — Retail
Built Form3-storey retail podium (1 basement + 2 upper) with conserved 2-storey brewmaster’s office annex
Land Area / GFA≈120,000 sq ft GFA (est.)
Completion Year1997
Nearest MRTRedhill (EW18), Queenstown (EW19) — ≈10–12 min walk
Key Road AccessAyer Rajah Expressway (AYE), Alexandra Road, Depot Road
Transacted PSF Range≈S$2,800 – S$3,600 psf (est.)
Sale Price Range≈S$1.2M – S$4.5M (est., by unit size)
Asking Rent Range≈S$8 – S$14 psf/month (est.)
Occupier BaseFashion & lifestyle (Pedro, Skechers, Cotton On, Charles & Keith), F&B, supermarket, enrichment centres, salons, community library

Location & Connectivity

Anchorpoint sits on a prominent corner plot along Alexandra Road, within Singapore’s District 3 precinct that spans the Alexandra, Commonwealth, Queenstown and Tiong Bahru neighbourhoods. The mall occupies the former site of the Anchor Brewery, and its two-storey brewmaster’s office — gazetted for conservation in 1993 — remains woven into the retail complex, giving the development a heritage character that is rare among the area’s newer commercial stock.

The site benefits from direct frontage onto Alexandra Road and is a short drive from the Ayer Rajah Expressway (AYE), giving quick access to the CBD, one-north, and the western industrial belt around Jurong. On foot, both Redhill and Queenstown MRT stations on the East-West Line are within a comfortable walking distance, while multiple bus services along Alexandra Road connect the mall to Orchard Road, Harbourfront and the CBD within minutes.

The immediate catchment is dense and mixed: established HDB estates in Queenstown and Commonwealth, private condominiums along Alexandra and Prince Charles Crescent, and a cluster of office and business-park developments including mTower and Alexandra Retail Centre. Singapore’s original IKEA outlet sits directly across the road, adding a strong footfall anchor that has historically benefited Anchorpoint’s own tenant mix.

Location of Anchorpoint. Map data: Google Maps, accessed August 2026.

Building & Facilities

The complex is arranged over a basement and two upper levels, connected by escalators and lifts, with the conserved brewmaster’s office block linked into the main retail floors. Floor-to-floor heights and shopfront frontages are typical of a late-1990s suburban mall — comfortable for F&B and lifestyle retail formats, though narrower than what newer integrated developments in the area offer.

Anchorpoint underwent a tenant-mix revamp in recent years, refreshing its common areas and bringing in family-oriented additions such as a community comic library alongside its established base of fashion, footwear and children’s retail brands. Common facilities include basement car parking, covered linkways, and public rest areas, with handover condition for retail units typically bare-shell or fitted, depending on the outgoing tenant.

Prospective buyers or tenants should conduct their own due diligence on the mall’s fire safety certification, MCST by-laws (if strata-titled), and any planned asset-enhancement works, as these directly affect renovation timelines and permitted shopfront changes.

Unit Types & Floor Plan Notes

Anchorpoint’s retail floorplate is segmented into a mix of bite-sized shop units and larger anchor bays, giving investors and operators several entry points depending on budget and trade category.

Ground Floor F&B Corner

≈600 – 1,200 sq ft

Street-facing corner lots suited to cafés and quick-service F&B, benefiting from external seating potential and high pedestrian visibility along Alexandra Road.

Level 1 Fashion & Lifestyle

≈400 – 900 sq ft

Mid-mall shop units fronting the main atrium walkway, historically leased to footwear, apparel and accessories brands.

Basement Supermarket / Anchor Bay

≈3,000 – 5,500 sq ft

Larger contiguous bays suited to a supermarket, enrichment centre chain, or other anchor-format occupier, with basement car park connectivity.

Level 2 Enrichment & Services

≈500 – 1,100 sq ft

Upper-floor units favoured by tuition centres, salons and personal-care services, which typically command lower psf rents than ground-floor retail.

Floor-to-Floor Height: ≈3.6m typical retail floor
Shopfront Frontage: ≈3m – 6m depending on unit
Loading / Servicing: Basement loading bay, restricted hours
Car Park Provision: Basement level, shared with retail visitors
Fire Safety: Sprinklered common areas; unit-level compliance subject to fit-out

Investment Case

Anchorpoint’s investment appeal rests on its captive, established residential catchment and its position opposite a major footfall driver in IKEA Alexandra, tempered by its age and a suburban mall format that has been steadily outpaced by larger integrated developments elsewhere on the island.

What Works

  • Established, dense residential catchment across Queenstown, Commonwealth and Tiong Bahru
  • Strong footfall halo from the adjacent IKEA Alexandra outlet
  • Conserved heritage architecture gives the mall a distinctive identity versus generic malls
  • Walkable to two East-West Line MRT stations and close to the AYE
  • Recent tenant-mix refresh signals ongoing asset management by the owner

What to Weigh Carefully

  • Building is approaching three decades old, with dated services and floorplates
  • Smaller total floor area limits scale versus newer suburban malls nearby
  • Limited car park capacity can constrain weekend visitor volumes
  • No confirmed anchor tenant, which can affect footfall consistency
  • Remaining lease term (where strata-titled) will factor into financing and exit timing

Who This Suits

Anchorpoint is best suited to owner-operators and small investors targeting F&B, personal-care, enrichment or lifestyle-retail businesses that depend on a stable, family-oriented neighbourhood catchment rather than tourist or office-lunch crowds. It also appeals to investors seeking a lower quantum entry into Singapore commercial retail compared with CBD or Orchard Road addresses, provided they factor in the building’s age and go in with realistic rental expectations calibrated to a suburban, non-MRT-linked mall.

Frequently Asked Questions

What is the permitted use for retail units at Anchorpoint?
Units at Anchorpoint are zoned for commercial retail use under URA’s Master Plan, permitting shops, F&B outlets, personal-care services, enrichment centres and similar retail or service trades typical of a neighbourhood mall. Any change of use — for instance converting a retail unit into an office or clinic — would need to be checked against the specific unit’s approved use and, where applicable, the mall’s MCST by-laws. Buyers or tenants planning a trade with special requirements, such as licensed F&B with extended operating hours or use of gas, should verify approval pathways with URA and the relevant licensing agencies (SFA, SCDF) before committing to a unit, as retrofitting can be costly once tenancy has begun.
Can foreigners buy strata retail units at Anchorpoint?
Commercial and retail property in Singapore, including strata retail units at developments such as Anchorpoint, is generally open to foreign individuals and entities without the restrictions that apply to residential land under the Residential Property Act. Foreign buyers can purchase strata-titled commercial units in their own name or through a Singapore-incorporated company. That said, foreign buyers should still budget for financing constraints, as local banks typically extend lower loan-to-value ratios to non-residents, and should factor in tax residency implications for rental income. Engaging a conveyancing lawyer familiar with commercial strata transactions is recommended to confirm eligibility for the specific unit and title structure.
Does Additional Buyer’s Stamp Duty (ABSD) apply to a purchase here?
ABSD in Singapore applies specifically to residential property purchases and does not apply to commercial or retail units such as those at Anchorpoint. Buyers of commercial strata space, whether Singapore citizens, permanent residents, foreigners or corporate entities, are therefore not subject to ABSD on this type of acquisition, which is one reason commercial retail remains attractive to investors seeking to diversify outside the residential cooling-measure framework. Standard Buyer’s Stamp Duty (BSD) still applies on the purchase price or market value, whichever is higher, and buyers should factor this into their total acquisition cost alongside legal and financing fees.
Is Seller’s Stamp Duty (SSD) a concern when reselling?
Seller’s Stamp Duty in Singapore currently applies only to residential property and industrial property sold within their respective holding periods; it does not apply to commercial retail units such as those at Anchorpoint. This means an investor can resell a strata retail unit here without SSD exposure regardless of how soon after purchase the sale occurs, which gives commercial retail buyers more flexibility to exit a position opportunistically compared with residential or industrial owners. Buyers should still confirm current rules with a conveyancing lawyer at the time of transaction, as stamp duty frameworks are periodically reviewed by the Ministry of Finance.
How is Buyer’s Stamp Duty (BSD) calculated on a unit here?
BSD for commercial property in Singapore, including retail units at Anchorpoint, is calculated on a tiered scale applied to the purchase price or market valuation, whichever is higher. Rates increase progressively across price bands, so a higher-quantum unit will attract a proportionally larger BSD bill. For a typical Anchorpoint retail unit in the low-to-mid seven-figure range, buyers should budget several percent of the purchase price for BSD alone, on top of legal fees and any agent commission. It is advisable to obtain an updated BSD calculation from IRAS or a conveyancing lawyer at the point of offer, since rates are subject to periodic revision.
Does GST apply to buying or renting a unit at Anchorpoint?
GST treatment depends on the seller’s or landlord’s GST-registration status rather than the property itself. If the vendor is a GST-registered entity, the sale of a commercial unit is typically subject to GST on top of the purchase price, whereas individual, non-GST-registered sellers do not charge GST. Similarly, rental income from a GST-registered landlord attracts GST on the rent charged. Buyers and tenants should clarify the counterparty’s GST status early in negotiations, as this materially affects total cost, and corporate buyers may be able to recover input GST depending on their own registration and intended use of the unit.
How does the remaining lease affect financing for this property?
Where Anchorpoint units are held on a leasehold title, the remaining lease term is a key factor banks weigh when assessing loan tenure and loan-to-value ratio, since collateral value typically declines as a lease shortens. A unit with a healthy remaining lease of several decades should still qualify for standard commercial financing terms, but buyers should independently verify the exact lease start date and balance term with the Singapore Land Authority before signing an Option to Purchase. Shorter remaining leases can also affect CPF usage (where applicable to the buyer structure) and future resale financing, so this should be factored into any long-term hold strategy.
What rental yield can an investor realistically expect?
Based on prevailing suburban retail rents in the Alexandra and Queenstown micro-market, a well-let unit at Anchorpoint could realistically target a gross yield in the region of 3.5% to 5% per annum, though actual returns depend heavily on floor level, unit size, trade category and prevailing occupancy. Ground-floor F&B or lifestyle-retail units generally command higher psf rents than upper-floor service units, but also carry higher fit-out and reinstatement costs for tenants, which can affect lease renewal negotiations. Investors should stress-test their yield assumptions against a conservative vacancy allowance and rising maintenance costs typical of an ageing building.
Does the building’s age raise any concerns for buyers?
Completed in 1997, Anchorpoint is now approaching three decades old, which means mechanical, electrical and plumbing systems, along with common-area finishes, are more likely to require periodic upgrading compared with newer developments. Buyers should request the building’s maintenance and capital expenditure history, review recent or upcoming asset-enhancement works, and budget for potential special levies if major upgrading is planned. On the positive side, an established building of this age typically has a well-understood tenant mix and operating track record, which can make cash flow more predictable than a newly launched development still building its occupancy base.
What are the odds of an en-bloc or redevelopment scenario?
There is no confirmed en-bloc or collective sale process publicly associated with Anchorpoint at this time, and as the site and building are understood to be wholly held by its current owner rather than broadly strata-subdivided among many individual owners, a conventional collective-sale route would depend heavily on that owner’s own redevelopment intentions rather than a vote among many strata owners. Given the site’s prime Alexandra Road location opposite IKEA and near two MRT stations, longer-term redevelopment potential exists in principle, but buyers should treat any such scenario as a speculative, multi-year possibility rather than a near-term catalyst when underwriting a purchase.
What parking and loading provisions are available?
Anchorpoint provides basement car parking for shoppers and tenants, along with a basement-level loading bay for goods delivery, typical of a mall of its era and scale. Parking capacity is comfortable for weekday footfall but can feel constrained during weekend peaks or promotional events, which is a practical consideration for F&B or high-turnover retail tenants dependent on drive-in customers. Loading and unloading hours are usually restricted to manage traffic flow along Alexandra Road, so incoming tenants with regular goods deliveries should confirm the mall’s loading schedule and any applicable charges with the management office before finalising a lease.
What ongoing maintenance or MCST fees should buyers expect?
Where units are strata-titled, owners contribute monthly maintenance fees to the Management Corporation Strata Title (MCST) to cover common-area upkeep, security, cleaning, lift maintenance and sinking-fund contributions for major repairs. For a retail unit of a few hundred to a few thousand square feet at a building of Anchorpoint’s age, monthly MCST fees typically run into several hundred to over a thousand Singapore dollars depending on unit size and share value, with occasional special levies possible if large-scale upgrading works are approved. Prospective buyers should request the MCST’s latest financial statements and sinking-fund balance during due diligence.
How liquid is the resale market for units at Anchorpoint?
Resale liquidity for suburban strata retail units like those at Anchorpoint is generally more limited than for residential property, as the buyer pool is narrower and largely made up of owner-operators and small commercial investors rather than mass-market buyers. Well-tenanted units with a stable rental track record tend to transact more readily, while vacant or awkwardly configured units can take longer to sell. Investors should approach such a purchase with a medium-to-long-term holding horizon in mind, and work with an agent experienced in commercial strata transactions to properly price a unit for exit when the time comes.
What types of businesses tend to succeed at Anchorpoint?
Given its family-dense catchment and proximity to IKEA Alexandra, businesses that have historically performed well at Anchorpoint include casual F&B and cafés, children’s and family fashion retailers, footwear and accessories brands, enrichment and tuition centres, salons and personal-care services, and community-oriented tenants such as libraries. Trades that depend heavily on office lunch crowds or tourist footfall are less naturally suited to this location, given the mall’s suburban, residential-led catchment rather than a CBD or attraction-driven one. Prospective tenants should study the current tenant mix and complementary trades before committing, to avoid direct competition within a relatively compact retail floorplate.

This article is for general informational purposes only and does not constitute financial, legal or investment advice. Figures marked with “≈” are reasonable estimates based on publicly available information as of the update date and should be independently verified before making any purchase, leasing or investment decision. Property values, rental rates and regulatory rules (including stamp duty and tax treatment) are subject to change; readers should consult a qualified property agent, lawyer or financial advisor before proceeding with any transaction.

© 2026 SG Commercial Property Insights. All rights reserved.

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