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Palais Renaissance Review

Palais Renaissance Review
Retail & Office Commercial Property Review — District 9

Palais Renaissance

A boutique luxury retail-and-office address anchored on prime Orchard Road.

SGCPI Research Desk Updated 25 August 2026 390 Orchard Road, Singapore 238871 ≈99-YR LEASEHOLD (COMMENCEMENT UNDISCLOSED)

Street-level view of Palais Renaissance, 390 Orchard Road, Singapore 238871. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NamePalais Renaissance
Address390 Orchard Road, Singapore 238871
DistrictDistrict 9 — Orchard / River Valley
Tenure≈99-year leasehold (exact commencement year not publicly disclosed)
Zoning / UseCommercial — retail podium & office tower
Built Form17-storey mixed-use block: 4-storey retail podium + 13-storey office tower, 2 basement carpark levels
Land Area / GFA≈30,000 sq ft land / ≈150,000 sq ft GFA
Completion Year1993
Nearest MRTOrchard (NS22/TE14), ≈5-min walk; Orchard Boulevard (TE13)
Key Road AccessOrchard Road, Claymore Road, Orange Grove Road; CTE via Orchard Boulevard
Transacted PSF Range≈S$3,200 – S$4,200 psf (strata office, estimate)
Sale Price Range≈S$3.5M – S$15M (unit-size dependent)
Asking Rent RangeS$8,721 – S$30,800 per month per unit
Occupier BaseLuxury F&B, boutique retail, professional services, foreign corporate/airline offices

Location & Connectivity

Palais Renaissance sits at 390 Orchard Road, tucked between the Royal Thai Embassy and Orchard Towers, in the thick of Singapore’s most recognisable retail boulevard. District 9 remains the benchmark address for prime commercial real estate in Singapore, and Palais benefits from being positioned closer to the Orchard Boulevard end of the strip, a slightly quieter pocket than the Ion Orchard–Wisma Atria cluster while still trading on the same postcode prestige.

Connectivity is a genuine strength. Orchard MRT station (NS22/TE14), an interchange between the North South Line and the Thomson-East Coast Line, is roughly a five-minute walk away, while the newer Orchard Boulevard station (TE13) sits even closer for tenants and shoppers arriving from the south. Drivers reach the Central Expressway and Pan Island Expressway within minutes via Orchard Boulevard and Paterson Road, giving reasonably fast runs into the CBD, Novena and the western business corridors. Bus coverage along Orchard Road and Claymore Road adds further redundancy for staff commuting from across the island.

The immediate surroundings read like a checklist of Orchard Road landmarks: Forum The Shopping Mall, Claymore Connect, Wheelock Place, Shaw Centre and Liat Towers all sit within a short stroll, alongside five-star hotels including Four Seasons, Shangri-La and Pan Pacific Orchard. Grocers such as Cold Storage and FairPrice, along with the Royal Thai Embassy and a dense cluster of embassies further down Orchard Boulevard, round out an occupier ecosystem that skews toward affluent residents, tourists and corporate representative offices rather than mass-market footfall.

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

Building & Facilities

Completed in 1993, Palais Renaissance rises 17 storeys above two basement carpark levels: a four-storey retail podium topped by a 13-storey office tower, connected by three passenger lifts and one cargo lift. The building’s most distinctive physical feature is its double-skin glass curtain wall façade, supplied by Permasteelisa, which was fitted with programmable architectural lighting to give the exterior a changing, illuminated presence after dark — a rarity among Orchard Road’s more utilitarian commercial blocks of the same era.

The retail podium was substantially reworked in a 2021–2022 renovation that refreshed common areas and brought in a tighter roster of high-end F&B and lifestyle tenants, including Michelin-recognised Sushi Kimura, P.S. Cafe and Merci Marcel. Office floors above run to typical plates of roughly 7,900 sq ft, with individual leasable or saleable units ranging from under 1,000 sq ft to nearly 8,000 sq ft, giving both boutique operators and larger single-floor occupiers workable configurations. Sheltered taxi drop-off, ample basement parking and a Green Mark Platinum (recertified) rating round out the building’s operational profile.

As with any commercial strata asset approaching or past the three-decade mark, prospective buyers should commission independent due diligence on the building’s structural condition, M&E systems, lift maintenance schedule and any planned capital works, since MCST reserve levels and upcoming asset enhancement costs are not disclosed in public listings and vary by unit and share value.

Unit Types & Floor Plan Notes

Palais Renaissance is strata-subdivided across its retail podium and office tower, giving buyers and tenants a spread of formats from small boutique shopfronts to full office floors. The four broad categories below reflect the range most commonly seen in current listings.

Retail — Podium Levels 1–2

≈400 – 1,500 sq ft

Ground and second-level shopfronts facing the internal atrium and Orchard Road frontage, suited to flagship boutiques, jewellery, beauty and lifestyle brands seeking prime footfall exposure.

Retail / F&B — Levels 2–4

≈1,000 – 3,500 sq ft

Larger podium units with kitchen-exhaust and higher ceiling provisions, typically taken up by full-service restaurants and cafés such as the building’s current F&B anchors.

Boutique Office

969 – 2,500 sq ft

Sub-divided office suites suited to representative offices, consultancies, family offices and small professional practices wanting an Orchard Road registered address.

Full/Half Office Floor

≈4,000 – 7,983 sq ft

Whole or half floor plates on the upper office levels, appropriate for regional headquarters, larger professional-services teams or single-tenant consolidation.

Typical office floor plate: ≈7,922 sq ft
Ceiling height (office): ≈2.7m finished
Lifts: 3 passenger lifts, 1 cargo lift
Parking: 2 basement levels, lots allocated by share value
Facade: Double-skin glass curtain wall with architectural lighting

Investment Case

Palais Renaissance trades on a combination that few strata commercial buildings in Singapore can match: a genuinely prime Orchard Road address, a compact and tightly curated tenant mix, and a distinctive architectural identity that has aged better than many of its 1990s-era peers. The investment case rests heavily on that scarcity value rather than on scale, since total leasable area is modest by CBD standards.

What Works

  • Prime District 9 Orchard Road address with strong brand cachet
  • Direct walking access to two MRT interchange stations
  • Recently refreshed podium with a curated, high-margin F&B and retail mix
  • Small, boutique unit sizes lower the absolute entry price versus larger CBD towers
  • Distinctive double-skin façade differentiates the asset from generic office stock

What to Weigh Carefully

  • Building is now over three decades old, with age-related M&E and lift capex ahead
  • Tenure details are not consistently disclosed across listing sources — verify directly with SLA/URA records
  • Small total unit count means thin resale and rental comparables to benchmark against
  • Parking is limited relative to demand from both office tenants and mall visitors
  • Retail success is concentrated in a handful of F&B anchors, which raises tenant-concentration risk for podium owners

Who This Suits

Palais Renaissance is best suited to buyers and tenants who value address and positioning over sheer floor area: boutique luxury retailers, high-end F&B operators, family offices, foreign representative offices and small professional-services firms that want an Orchard Road mailing address without committing to a full CBD-scale footprint. Owner-occupiers who plan to hold long term and can absorb building-age maintenance costs are typically better positioned here than short-horizon flippers, given the asset’s thin transaction volumes. It is less suited to large single-tenant corporates needing contiguous floor plates above roughly 8,000 sq ft, or to investors chasing high-volume, high-liquidity strata markets such as Suntec City or International Plaza.

Frequently Asked Questions

What is Palais Renaissance zoned for, and what business uses are permitted?
Palais Renaissance is zoned Commercial under the URA Master Plan, split between a retail podium (Levels 1–4) and an office tower (upper floors). Podium units are approved for retail, F&B and lifestyle-service uses, subject to individual unit conditions and NEA requirements for kitchen-exhaust trades. Office-tower units are approved for general office and professional-services use, including representative offices, consultancies and corporate headquarters functions. Uses that fall outside standard commercial classification — such as residential occupation, industrial processing, or warehousing — are not permitted without separate change-of-use approval from URA, which is unlikely to be granted given the site’s prime commercial zoning and strata configuration.
Can foreigners buy a unit at Palais Renaissance?
Yes. Singapore’s Residential Property Act restrictions on foreign ownership apply to residential property, not to commercial units such as those at Palais Renaissance. Foreign individuals and foreign-registered companies can purchase strata office or retail units here without prior government approval, subject to normal conveyancing, AML/CFT checks by the acting law firm, and financing arrangements with a Singapore-licensed bank. Buyers should still budget for Buyer’s Stamp Duty and, where relevant, GST registration if turnover from the unit’s use exceeds the compulsory registration threshold. Corporate structuring (Singapore entity versus direct foreign-entity purchase) affects financing terms and should be discussed with a tax adviser before signing an Option to Purchase.
Does Additional Buyer’s Stamp Duty (ABSD) apply to a commercial unit here?
No. ABSD in Singapore applies specifically to residential property purchases and does not extend to commercial or industrial units, including the retail and office units at Palais Renaissance. This is one of the structural attractions of commercial strata investment for both local and foreign buyers, since it removes the layered ABSD rates that apply to second and subsequent residential purchases or to any foreign residential buyer. Buyers still pay standard Buyer’s Stamp Duty (BSD) on the purchase price or market value, whichever is higher, and should not assume commercial exemptions extend to any residential component elsewhere in a portfolio.
Is Seller’s Stamp Duty (SSD) a concern if I want to resell quickly?
Commercial property in Singapore, including units at Palais Renaissance, is not currently subject to Seller’s Stamp Duty, which applies mainly to residential property sold within a holding period set by MAS/IRAS rules. This gives commercial strata owners more flexibility to exit within a short timeframe without an SSD penalty. That said, absence of SSD does not guarantee a quick sale — resale speed at a small, tightly held building like Palais Renaissance depends far more on genuine buyer demand and comparable transaction evidence than on stamp duty mechanics, so owners should still plan for a realistic marketing period.
How is Buyer’s Stamp Duty (BSD) calculated on a purchase here?
BSD on commercial property follows the same tiered structure applied to residential purchases: 1% on the first S$180,000, 2% on the next S$180,000, 3% on the next S$640,000, 4% on the next S$500,000, 5% on the next S$1.5 million, and 6% on any amount above S$3 million, calculated on the higher of purchase price or market value. For a strata office or retail unit at Palais Renaissance priced in the ≈S$3.5 million to S$15 million range, BSD would typically fall between roughly S$149,600 and S$780,000 depending on the exact price. Buyers should confirm the current schedule with their conveyancing lawyer, as BSD tiers are periodically revised in the Budget.
Does GST apply to renting or buying a unit at Palais Renaissance?
Commercial property transactions are treated differently from residential ones under Singapore’s GST regime. If the seller or landlord is GST-registered, GST is chargeable on the sale price or rental, and the buyer or tenant should factor this into cash-flow planning, though input tax may be recoverable if the purchaser is itself GST-registered and using the unit for taxable business activity. Rental income from a commercial unit at Palais Renaissance is treated as standard-rated for GST purposes once the owner’s turnover crosses the compulsory registration threshold. Buyers unfamiliar with commercial GST treatment should engage an accountant before completing the purchase.
How does the property’s tenure affect financing?
Tenure classification for Palais Renaissance is not consistently reported across public listing platforms — some describe it as leasehold, others as freehold or unknown tenure — so buyers must verify the exact land tenure and any remaining lease term directly against the title deed or with SLA/URA records before proceeding. If the unit sits on a leasehold parcel, banks typically size loan tenure and loan-to-value ratio against the remaining lease, with tighter terms as remaining years fall below roughly 60. CPF usage does not apply to commercial purchases in any case, so buyers should plan on cash and bank financing regardless of tenure status.
What rental yield can an owner realistically expect?
Based on current asking rents of roughly S$8,721 to S$30,800 per month against an estimated capital value range of ≈S$3.5 million to S$15 million, gross yields at Palais Renaissance likely sit in the region of 3.5% to 5% per annum, broadly consistent with prime District 9 strata office and retail benchmarks. Actual yield varies considerably by floor level, unit condition, tenant covenant strength and whether the unit is retail (generally commanding a premium but with higher fit-out and vacancy risk) or office (steadier but lower absolute rent). Owners should net down for MCST fees, property tax and any leasing commissions before comparing to other asset classes.
How does the building’s age affect maintenance risk?
Completed in 1993, Palais Renaissance is now over three decades old, meaning major building systems — lifts, chillers, the double-skin façade’s lighting and glazing seals, and basement carpark waterproofing — are approaching or within typical replacement cycles. The 2021–2022 podium renovation refreshed common-area finishes and tenant mix but did not necessarily reset the building’s core M&E infrastructure. Prospective buyers should request recent MCST AGM minutes, the sinking fund balance and any planned capital works schedule, since a building of this age can carry meaningful upcoming special-levy risk that is not reflected in the headline asking price.
Is Palais Renaissance a likely en-bloc or redevelopment candidate?
There is no public indication of an active collective-sale process at Palais Renaissance, and the Orchard Road corridor’s recent en-bloc activity has centred on nearby sites such as Delfi Orchard, Tanglin Shopping Centre and Ming Arcade rather than this building. Given its relatively compact land footprint, mixed strata ownership across retail and office components, and comparatively younger age against some of those collective-sale candidates, an en-bloc attempt here is plausible in the medium-to-long term but should not be treated as a near-term catalyst. Buyers motivated primarily by redevelopment upside should treat any such outcome as a bonus scenario, not a base case.
What is parking and loading like for tenants and shoppers?
Palais Renaissance offers two basement levels of car parking plus a sheltered taxi stand and drop-off point at grade, which is workable for a boutique building of this size but limited relative to peak demand from both office tenants and mall visitors, particularly during lunch hours and evenings when the F&B podium is busiest. There is no dedicated large-vehicle loading dock comparable to bigger shopping centres, so podium F&B and retail tenants typically rely on scheduled deliveries via the basement or service areas at off-peak hours. Businesses with heavy delivery or loading needs should confirm current loading-bay arrangements directly with building management before committing to a unit.
What should buyers budget for MCST or maintenance fees?
As with any strata-titled commercial building, Palais Renaissance owners pay monthly maintenance fees to the Management Corporation Strata Title (MCST), calculated according to each unit’s share value, to cover common-area upkeep, security, cleaning, lift servicing and the sinking fund for major repairs. Exact current quantums are not published and vary between retail and office units given differing service loads, so prospective buyers should request the latest MCST budget and fee schedule from the managing agent before purchase. Because the building is over 30 years old, sinking-fund adequacy is a particularly important line item to review, given the likelihood of upcoming lift and façade-related capital works.
How liquid is the resale market for units at Palais Renaissance?
Resale liquidity is inherently thinner here than at larger strata developments such as Suntec City or International Plaza, simply because Palais Renaissance has a much smaller total unit count spread across a mixed retail-and-office building. Transaction volumes are correspondingly sparse, which makes pricing benchmarks less precise and can extend marketing periods for sellers. The trade-off is that prime Orchard Road addresses of this type rarely come to market, so buyers who do transact are often paying, and later realising, a location premium rather than a pure yield-driven valuation. Owners should factor a longer expected holding period into their exit planning.

This article is for general informational purposes only and does not constitute financial, legal or investment advice. Figures marked with “≈” are reasoned estimates based on publicly available listing data and comparable market benchmarks as at the update date above, and may not reflect actual transacted or current asking terms. Tenure, zoning, GFA and other statutory particulars should be independently verified against official URA, SLA and title records before making any purchase, leasing or investment decision. Prospective buyers and tenants should conduct their own due diligence and consult qualified property, legal and tax professionals.

© 2026 SG Commercial Property Insights. All rights reserved.

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