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The Riverside Piazza Review

The Riverside Piazza Review
Mixed-Use Property Review — District 01, Singapore River

The Riverside Piazza

A 1996-built strata development on Keng Cheow Street, stacking small offices and ground-floor retail beneath 2- and 3-bedroom apartments, between Clarke Quay and Chinatown.

SGCPI Research Desk Updated 22 August 2026 11 Keng Cheow Street, Singapore 059608 99-YR LEASEHOLD FROM 1992

Street-level view of The Riverside Piazza, 11 Keng Cheow Street. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameThe Riverside Piazza
Address11 Keng Cheow Street, Singapore 059608
DistrictDistrict 01 — Singapore River / Clarke Quay precinct
Tenure99-yr leasehold from 1992 (≈65 yrs remaining)
Zoning / UseMixed-use, strata-titled — commercial (office/retail) + residential
Built Form7-storey mixed development, 40 strata units
Land Area / GFA≈2,941 sqm land / ≈8,234 sqm GFA
Completion Year1996
Nearest MRTClarke Quay (NE5), Chinatown (DT19/NE4), Fort Canning (DT20)
Key Road AccessEu Tong Sen St, New Bridge Rd, Havelock Rd; CTE via Chin Swee Rd
Transacted PSF Range≈S$1,600 – S$1,900 psf (office/retail)
Sale Price Range≈S$1.4m – S$6.0m by unit type & floor
Asking Rent Range≈S$2,000 – S$16,000 / month
Occupier BaseSmall professional offices, F&B/retail at street level, owner-occupied & rented apartments above

Location & Connectivity

The Riverside Piazza sits on Keng Cheow Street, a short and quiet link road tucked between the Singapore River’s Clarke Quay entertainment belt and the older shophouse fabric of Chinatown. It is one of the smaller mixed-use addresses in District 01, overshadowed in scale by the office towers of Raffles Place but arguably better placed for River Valley Road foot traffic and F&B catchment.

Connectivity is a genuine strength for a building this size. Clarke Quay MRT (NE5) and Chinatown MRT (DT19/NE4) are both within roughly 400 metres, with Fort Canning MRT (DT20) a short walk further; three MRT lines — North East, Downtown and Circle via interchange — are effectively on the doorstep. Drivers reach the Central Expressway via Chin Swee Road in minutes, while Eu Tong Sen Street and New Bridge Road provide direct surface links to the CBD and to Chinatown’s retail core.

The immediate surroundings mix heritage and modern retail: Riverside Point, Clarke Quay Central and People’s Park Centre cover shopping, F&B and supermarkets (Sheng Siong, FairPrice, Don Don Donki all sit within a few hundred metres), while Maxwell Road Hawker Centre and the Boat Quay dining strip offer everyday and destination food options for tenants and staff alike.

Location of The Riverside Piazza. Map data: Google Maps, accessed August 2026.

Building & Facilities

Completed in 1996 by Kingston Development Pte Ltd, The Riverside Piazza is a compact 7-storey block of 40 strata units, stacking ground- and low-floor commercial space beneath 2- and 3-bedroom residential apartments on the upper levels. A single passenger lift serves the block, and floor-to-floor heights are typical of mid-1990s low-rise construction rather than the taller clear spans found in newer commercial-only developments.

As a small strata property, communal facilities are minimal — there is no pool, gym or function room of the kind found in larger mixed developments, and the building’s appeal rests on location and unit flexibility rather than lifestyle amenities. Handover condition on resale and rental units varies considerably by owner, so a physical inspection of M&E fit-out, wiring and plumbing is advisable before any purchase.

Buyers and tenants should independently verify the specific unit’s approved use against the URA Master Plan and the building’s strata by-laws before committing to a commercial fit-out, since permitted use can differ between adjacent units in a mixed development of this kind. Given the building is approaching its 30th year, common-area M&E systems and the building envelope also warrant a maintenance-history check with the MCST.

Unit Types & Floor Plan Notes

Stock at The Riverside Piazza splits broadly into four categories: ground-floor retail/F&B, low-floor offices, 2-bedroom apartments and 3-bedroom apartments. Commercial units are compact and largely uniform in size, while residential units offer more layout variety across the upper floors.

Ground-Floor Retail / F&B

≈753 – 778 sqft

Street-fronting units suited to cafes, bars and small F&B concepts, benefiting from footfall along Keng Cheow Street and proximity to Clarke Quay’s nightlife crowd.

Low-Floor Office

≈753 – 829 sqft

Small self-contained office floorplates, typically taken up by boutique professional-services firms and regional trading offices seeking a River Valley address at a lower quantum than Raffles Place.

2-Bedroom Residential

≈947 sqft

Compact family or investment units on the upper residential floors, generally let to working professionals drawn to the walk-to-MRT, walk-to-CBD positioning.

3-Bedroom Residential

≈1,270 sqft

The largest residential layout in the block, better suited to owner-occupiers or small families wanting more space without leaving the Singapore River precinct.

Floor-to-floor height: ≈3.0m, typical of 1990s low-rise construction
Vertical access: Single passenger lift serving all 7 storeys
Loading: Shared street-level loading/unloading along Keng Cheow Street; no dedicated loading dock
Layout: Individually strata-titled units; no shared pool, gym or function facilities
Total unit count: 40 units across commercial and residential use

Investment Case

The Riverside Piazza’s investment case rests almost entirely on location rather than building specification. It is a small, ageing, mixed-use strata asset in one of Singapore’s most connected micro-locations, which suits patient owner-occupiers and niche F&B/office tenants more comfortably than it suits investors chasing scale or high liquidity.

What Works

  • Three MRT lines within a short walk, unusual for a building of this size
  • Low entry quantum relative to Raffles Place or Marina Bay commercial stock
  • Mixed-use flexibility — office, retail/F&B and residential demand all draw on the same address
  • Established, characterful Singapore River/Chinatown catchment with steady footfall
  • No ABSD exposure on the commercial units, unlike pure residential purchases

What to Weigh Carefully

  • Building is approaching 30 years old, with dated common-area M&E and no lifestyle facilities
  • Small 40-unit scale means thin transaction volume and limited resale comparables
  • Single lift and street-level loading only, which can constrain some business uses
  • ≈65 years remaining on the lease may affect bank financing quantum over time
  • Mixed commercial/residential stacking means unit-specific use restrictions must be checked carefully

Who This Suits

This building tends to suit owner-occupier businesses — boutique consultancies, trading offices or small F&B operators — that value a walkable, well-connected Singapore River address over a polished commercial tower fit-out, and are comfortable with a modest, self-managed strata environment. On the residential side, it appeals to individual investors or professionals wanting a compact, well-located apartment near Clarke Quay and Chinatown without condominium-scale maintenance fees. It is generally a weaker fit for institutional or fund investors seeking scale, for businesses requiring loading docks or large floorplates, or for buyers prioritising long, unencumbered lease tenure and strong forced-sale liquidity above location.

Frequently Asked Questions

What is the permitted use for units at The Riverside Piazza?
The Riverside Piazza is a mixed-use, strata-titled development: ground- and low-floor units are zoned for commercial use (office and retail/F&B), while upper floors are zoned residential. Permitted use is set at the individual unit level under the URA Master Plan and the building’s strata by-laws, and it is not safe to assume a unit’s use simply from its floor. Before signing any purchase or lease agreement, buyers and tenants should verify the specific unit’s approved use directly with URA’s e-service or the building’s Management Corporation Strata Title (MCST), particularly if a commercial fit-out such as F&B, which often carries additional licensing conditions, is intended.
Can foreigners buy the commercial units here?
Yes. Singapore’s Residential Property Act, which restricts foreign ownership of most landed and certain residential property, does not apply to commercial or industrial units, so foreign individuals and companies can generally purchase the office and retail units at The Riverside Piazza without special approval. The residential apartments in the same building, however, fall under normal rules for foreign purchase of private residential property, which are permitted but carry Additional Buyer’s Stamp Duty at the foreigner rate. Buyers should always confirm a specific unit’s classification (commercial versus residential) before assuming which ownership regime applies, since this building mixes both under one roof.
Does Additional Buyer’s Stamp Duty (ABSD) apply?
It depends on the unit type. ABSD in Singapore applies only to residential property purchases, so the office and retail units at The Riverside Piazza attract no ABSD regardless of the buyer’s nationality or existing property count. The residential apartments, however, are subject to ABSD like any other private home: Singapore Citizens pay 0% on a first residential property, Permanent Residents from 5%, and foreigners a flat 60%, with entities at 65%. Because this is a mixed-use building, buyers must confirm whether the specific unit is zoned commercial or residential before assuming their ABSD exposure, as the treatment differs sharply between the two.
What about Seller’s Stamp Duty (SSD) if I sell later?
Seller’s Stamp Duty applies only to residential property in Singapore, so the commercial (office/retail) units at The Riverside Piazza can generally be resold at any time without SSD liability. The residential apartments are a different matter: units acquired after 16 December 2021 attract SSD of 12% if sold within the first year of holding, 8% in the second year and 4% in the third year, with no SSD from the fourth year onward. This makes the commercial units notably more flexible for short-term holding strategies, while residential buyers should plan on at least a three-year hold to avoid an SSD charge on exit.
How much Buyer’s Stamp Duty (BSD) applies?
BSD applies to every purchase regardless of unit type, but the rate schedule differs. For non-residential purchases such as the office and retail units here, BSD runs 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 and 5% on amounts above S$1.5 million. Residential unit purchases follow a similar tiered schedule but rise to 6% above S$3 million. On a typical S$2 million commercial unit, BSD works out to roughly S$69,600. BSD is payable in addition to any ABSD that applies, and is due shortly after the option is exercised.
Is GST payable when buying a unit here?
GST can apply to the commercial units but not to the residential apartments, since residential property sales in Singapore are exempt from GST. Where the seller of an office or retail unit is GST-registered, the buyer should expect to pay 9% GST on top of the purchase price at completion; this is recoverable as input tax if the buyer’s own purchasing entity is GST-registered and using the unit for taxable business purposes. Before exercising an option on any commercial unit, buyers should request confirmation of the seller’s GST registration status from their solicitors, as this materially affects the day-one cash outlay required.
How does the remaining lease affect financing?
With 99 years from 1992, roughly 65 years remain on the lease as of 2026 — comfortably above the thresholds where banks typically start tightening loan tenure and loan-to-value ratios, which usually tighten once a lease drops below about 60 years remaining at loan maturity. That said, financing terms for the commercial units and the residential apartments differ: commercial loans generally carry shorter tenures, lower LTV caps and slightly higher interest margins than residential mortgages, and CPF funds cannot be used for commercial purchases. Buyers should model financing separately by unit type and revisit lease-decay assumptions as the building approaches the 40-to-50-year-remaining mark over the coming decades.
What rental yields can an investor expect?
Based on current asking figures, rents across the building span roughly S$2,000 to S$16,000 a month depending on unit type, floor and fit-out, against sale prices of roughly S$1.4 million to S$6.0 million. Back-of-envelope gross yields for the smaller commercial and residential units tend to land in a moderate low-to-mid single-digit percentage range, broadly in line with other small strata mixed developments in the Singapore River area rather than at a premium. Actual achievable yield varies significantly by unit condition, floor and tenant type, so prospective investors should request the specific unit’s rental history and compare it against current comparable listings rather than relying on building-wide averages.
How does the building’s age affect condition and costs?
Completed in 1996, The Riverside Piazza is approaching 30 years old, which is a meaningful consideration for both commercial and residential buyers. Common-area mechanical, electrical and plumbing systems, the single lift, and the building envelope are all of an age where periodic major repairs become more likely, and unit-level wiring or plumbing may need upgrading depending on prior owners’ maintenance. Buyers should request the MCST’s maintenance and sinking-fund records, recent Annual General Meeting minutes, and any planned major works before committing, since a building this age can carry higher near-term capital expenditure risk than a newer commercial or residential development.
What are the chances of an en-bloc sale or redevelopment?
En-bloc potential at The Riverside Piazza looks limited in the near term. The site is relatively small at roughly 2,941 sqm, sits on a comparatively short and narrow street, and mixes commercial and residential strata interests under one Management Corporation, which historically makes collective-sale consensus harder to reach than in purely residential developments. With around 65 years still remaining on the lease, there is also less of the “use it or lose it” urgency that drives en-bloc activity on shorter leases. Buyers should treat any redevelopment upside as a long-dated, low-probability scenario rather than a core part of the investment case.
What parking and loading facilities are available?
As a small 1990s strata development, The Riverside Piazza does not offer the multi-storey car parks or dedicated loading docks found in newer commercial buildings. Deliveries and loading for ground-floor retail and F&B units are generally handled from the street along Keng Cheow Street, which can be tight during peak hours given the road’s modest width. On-site parking provision is limited, and tenants and owners typically rely on nearby public car parks and the strong MRT and bus connectivity to reduce dependence on private vehicles. Businesses with regular large deliveries or fleet-vehicle needs should assess this constraint carefully before committing to a unit.
What are typical maintenance or MCST fees?
Maintenance fees at The Riverside Piazza are managed through its Management Corporation Strata Title and are generally modest relative to larger condominiums, reflecting the absence of pool, gym or extensive landscaping to maintain — costs mainly cover the lift, common lighting, cleaning, security and building insurance. Exact quantum varies by unit size and share value and should be confirmed directly with the MCST or managing agent, along with the current sinking fund balance and any upcoming major works levy. Commercial owners should also budget separately for their own unit’s fit-out maintenance, since strata fees typically cover common property only, not internal fixtures.
How liquid is the resale market for this building?
Resale liquidity here is modest. With only 40 total units split across commercial and residential use, transaction volume is inherently thin, and recorded transactions can be sparse in any given year, making it harder to establish a precise “market price” at short notice compared with larger developments that transact more frequently. This suits owner-occupiers and long-term holders better than buyers who may need to exit quickly. Anyone considering a purchase should request the fullest possible transaction history from a property agent or URA’s REALIS database, and build in a realistic marketing period of several months to a year when planning any future sale.
What business types suit the commercial units at The Riverside Piazza?
The commercial units are best suited to small, footfall-light or footfall-friendly businesses that value location over scale: boutique professional-services firms, trading and regional representative offices, and F&B or bar concepts that can draw on Clarke Quay’s evening crowd and Chinatown’s daytime traffic. The compact floorplates and single lift make the building less suitable for larger back-office operations, logistics-heavy businesses, or any use requiring significant loading, storage or car access. Prospective tenants should also confirm licensing requirements with relevant authorities for F&B or entertainment uses, since approvals can vary by unit and by the building’s existing use mix.

This article is for general information only and does not constitute financial, legal or investment advice. Figures on pricing, rent, stamp duty and tax treatment are indicative, based on publicly available listings and transaction data as at the stated update date, and are subject to change. Prospective buyers and tenants should conduct independent due diligence, verify all figures with URA, IRAS and the building’s Management Corporation, and consult a licensed property agent, lawyer or financial adviser before making any purchase or leasing decision.

© 2026 SG Commercial Property Insights. All rights reserved.

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