CommercialCOMMERCIAL & RESIDENTIALConservationFreeholdDistrict 12 · Novena

Chelsea Grove

Reviewed by Nathan TangUpdated 8 November 2026Data through Jul 2012

Quick Summary

Chelsea Grove is a commercial building in District 12 · Novena, on land zoned COMMERCIAL & RESIDENTIAL under the URA Master Plan with a gross plot ratio of 3.0. It is freehold. 1 transaction is on record since 1995, most recently in Jul 2012. ACRA records 2 live company registrations at this address.

The facts are here — now get the verdict on Chelsea Grove.

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What are the key facts about Chelsea Grove?

Key takeawayChelsea Grove is a commercial building in District 12 · Novena, zoned COMMERCIAL & RESIDENTIAL, held freehold.

Asset class: Commercial
Land-use zone: COMMERCIAL & RESIDENTIAL
Gross plot ratio: 3.0
Tenure: Freehold
District / Area: District 12 · Novena
Address: 341 Balestier Road
Land area: 1,263 sqm
Completed: Not on record
Storeys: 2 (© OpenStreetMap contributors)
Submarket: City Fringe
Transactions on record: 1 (records start 1995)
Live listings: None
ACRA registrations: 2

About Chelsea Grove

Chelsea Grove is a mixed-use building in Novena (District 12). It is located along Balestier Road, Singapore 329773.

Under the URA Master Plan it sits on land zoned commercial & residential with a gross plot ratio of 3. The site falls within a conservation area, so external alterations are subject to URA conservation guidelines.

The site is freehold. It occupies roughly 1,263 sqm of land with about 3,789 sqm of gross floor area.

1 transaction has been recorded here, at a median of S$1,752 psf. The most recent was in July 2012.

3 businesses are currently registered at this address with ACRA.

The nearest MRT is Novena MRT, 920 m away (about a 14-minute walk). The closest bus stop (Aft Pegu Rd) is 50 m away (about a 1-minute walk).

What is Chelsea Grove zoned as?

Key takeawayChelsea Grove sits on land zoned COMMERCIAL & RESIDENTIAL with a gross plot ratio of 3.0, with conservation status.

Land-use zone: COMMERCIAL & RESIDENTIAL
Gross plot ratio: 3.0
Conservation area: Balestier
Conserved building: Yes

Run the full zoning report for this building →

What has Chelsea Grove sold for?

Key takeaway1 transaction is on record since 1995, most recently in Jul 2012 — too few to support a median, so the deals themselves are listed instead.

Date	Use	Price	Area	PSF
Jul 2012	Retail	S$19.90M	11,356 sqft	$1,752

URA/JTC records from 1995 — that is where the record starts, not when the building was built. Strata and land deals can mix in one building's history; compare like with like. sqm ↔ sq ft converter

What does space at Chelsea Grove rent for?

Key takeawayNo rent is published for Chelsea Grove itself. On its street, Balestier Road, retail space rented at a median of $5.76 psf a month in 2026Q3, with the middle half of leases between $5.00 and $7.48. That is not this building's own rent, and never a quote for a particular unit.

Retail space on Balestier Road

Street level · 2026Q3

25th pct

$5.00

$53.83 psm

Median

$5.76

$61.96 psm

75th pct

$7.48

$80.47 psm

S$ per sq ft per month · median -36.4% on a year earlier

2023Q4 · $68.99 psm2026Q3 · $61.96 psm median

URA's percentiles of RETAIL rents (shop, F&B, entertainment, health & fitness) across every lease stamped with IRAS on this STREET in the quarter — the street's figure, not this building's rent and never a unit's. Retail rent swings with floor and frontage, so the spread matters as much as the median. A median needs at least 2 buildings and 3 contracts (percentiles need 4); a blank means below that threshold, not zero.

Source: URA rental statistics by street (IRAS-stamped contracts).

Office space on Balestier Road

Street level · 2026Q3

25th pct

$4.86

$52.33 psm

Median

$4.98

$53.57 psm

75th pct

$5.81

$62.49 psm

S$ per sq ft per month · median +11% on a year earlier

2023Q4 · $46.50 psm2026Q3 · $53.57 psm median

URA's percentiles of OFFICE rents across every lease stamped with IRAS on this STREET in the quarter — the street's figure, not this building's rent and never a unit's. URA publishes a median only where the street has at least 2 office buildings and 3 contracts that quarter (percentiles need 4); a blank means below that threshold, not zero.

Source: URA rental statistics by street (IRAS-stamped contracts).

Retail space — District 12 retail

Region band · 2026Q3

25th pct

$5.52

$59.42 psm

Median

$6.71

$72.22 psm

75th pct

$8.97

$96.57 psm

S$ per sq ft per month

A REGION BAND — URA's grid for the whole district or location, not this street or building. Say "across <district/location>, …", never that this building rents for it. The middle of URA's retail grid for District 12 across every floor and size band — a ground-floor shop and an upper-floor unit sit at very different points in it.

Source: URA REALIS retail rental analysis (district × floor × size grid).

Market context around Chelsea Grove

Key takeawayBrokers' retail figures for this part of Singapore — a broker's market figure, not this building's rent.

CBRE, 2Q 2026 (island-wide)

Islandwide: Rent S$28.15 psf/mth

Singapore Figures Q2 2026

Cushman & Wakefield, 2Q 2026

Other City Areas: Rent S$21.21 psf/mth · Vacancy 7.4% (1Q 2026) · Planned / under construction 0.73m sq ft

Singapore Retail MarketBeat Q2 2026

Official series (URA, 2026Q3): Retail vacancy rate (Whole Island) 6.5 (-0.4 pp on the year) · Retail rental index (Central Region) 81.2 (+1.4% on the year).

Brokers draw submarkets and grades differently; each figure is the broker's own, for its own area, cited to its report. Rents are per square foot per month.

How does Balestier Road price?

Key takeawayAcross 45 strata sales on Balestier Road in the last 5 years, the median is $2,070 psf.

Strata sales on the street (5y)

Street median PSF (strata)

$2,070

Street figures cover strata deals only — land and strata PSF are not comparable.

What do commercial rents run near Chelsea Grove?

Key takeawayURA publishes contracted-rent percentile grids quarterly (latest: 2026Q3) — the benchmark evidence an asking rent should be weighed against.

Indicative area yield — District 12 retail

Gross yield (area)

2.9%

2.6% net of property tax

Rent side (median of bands)

$72.22 psm/mo

2026Q3

Price side (strata, 5y)

$2,767 psf

54 sales

An INDICATIVE AREA yield for District 12 retail — NOT this building's yield, and not any unit's. Commercial rents are published as a district percentile grid, so both halves describe the district.

Priced on STRATA sales only: rent is quoted per unit of lettable area, and commercial land PSF runs far above strata — mixing them would shift the ratio sharply.

Net deducts the 10% non-residential property tax ONLY — not vacancy, maintenance, agent fees, financing, or the 9% GST on purchase.

Retail rents — District 12 ($ psm/month, 2026Q3)

Floor level · size band	25th pct	Median	75th pct
Level 1 · 30 & Below	$52.08	$72.22	$91.29
Level 2 & 3 · 30 & Below	$101.58	$129.23	$143.22
Level 2 & 3 · >30 - 100	$59.42	$63.94	$96.57
Level 1 · >30 - 100	$74.07	$96.87	$116.31
Level 1 · >100 - 300	$48.14	$55.10	$60.66

URA REALIS rental-contract percentiles for the district/location — an area benchmark, not this building's own rents. Office and retail are dimensioned differently and are never mixed.

What is near Chelsea Grove?

Key takeawayThe nearest MRT/LRT is Novena MRT, about 920 m away — and 3 competing retail premisess operate nearby.

Getting around

Novena MRT920 m · ~14 min

Amenities nearby

Aft Pegu Rd · 50 mParkwayHealth Primary Care Network · 66 mPlace Of Worship · 108 mHotel · 162 mEducational Institution · 338 mRen Ci Community Hospital · 599 mWhampoa Community Club · 671 mNovena MRT Exit A · 832 m

Competing premises nearby

Retail and F&B premises competing for the same footfall — context for an occupier, not a selling point.

NTUC Fairprice Co-operative Ltd · 123 mBlks 91/92 Whampoa Drive # · 328 mSquare 2 · 873 m

Straight-line distances. Source: PropKaki amenities data.

Getting there and parking at Chelsea Grove

Key takeawayThe nearest station is Novena (NS20), 832 m away — one of the busiest stations, with about 85,000 taps in and out on an average weekday. 23 public car parks are within 500 m; the cheapest URA season parking nearby is S$90 a month.

Foot traffic: busier than 34% of retail buildings

nearest MRT/LRT Novena (NS20) 832 m, about 85,000 taps a weekday; 1 more station within 1 km; bus stops within 400 m: 8, about 18,000 taps a weekday; Novena: 42,829 resident workers (Census 2020, by workplace); about 56,000 residents within 1 km (June 2026); 2 other malls within 1 km. Ranked against 12,856 retail buildings by PropKaki's model: a relative score, not a footfall count.

A relative score from PropKaki's model (station and bus taps nearby, workers and residents around, and competing malls), not a count of people.

Stations within 1 km

Novena (NS20)832 m · about 85,000 weekday taps
Toa Payoh (NS19)992 m · about 76,000 weekday taps

Taps are fare-card taps in and out at the station's gates on an average weekday (Jul 2026 to Sep 2026) — people passing through, not visitors to Chelsea Grove. Transfers between lines don't tap, so interchanges read low.

Bus

8 bus stops within 400 m, with about 18,000 boardings and alightings on an average weekday.

Public car parks within 500 m

Martaban Rd (URA)50 m
S$0.60 per half-hour at midday on a weekday · 16 car lots
Mandalay Rd (URA)108 m
S$0.60 per half-hour at midday on a weekday · 8 car lots
Balestier Road Area (URA)111 m
season S$90/month
Minbu Rd (URA)157 m
S$0.60 per half-hour at midday on a weekday · 3 car lots
Bhamo Rd (URA)183 m
S$0.60 per half-hour at midday on a weekday · 9 car lots

Public car parks only, by straight-line distance, with the operator's published rates. Chelsea Grove's own car park, if it has one, and its charges are not in the open data.

Who's registered at Chelsea Grove?

Key takeaway2 live companies (and LLPs and branches; sole proprietors are not counted) list Chelsea Grove as their registered address. These are registered businesses, not who occupies the space.

Wholesale and retail trade
1
Construction
1

Registered businesses, not who occupies the space: companies, LLPs and branches whose REGISTERED address is this building (ACRA), by industry. Sole proprietors are not counted; no business is named. ACRA, as of 2026-09-16.

Frequently asked questions about Chelsea Grove

Where is Chelsea Grove?⌄

Chelsea Grove is at 341 Balestier Road, Singapore 329773, in the Novena planning area.

What is Chelsea Grove zoned as?⌄

Chelsea Grove sits on land zoned commercial & residential under the URA Master Plan, with a gross plot ratio of 3.

What is the tenure of Chelsea Grove?⌄

Chelsea Grove is freehold.

Is Chelsea Grove a conserved property?⌄

Yes. Chelsea Grove falls within a URA conservation area, so external works are subject to conservation guidelines.

What have units at Chelsea Grove sold for?⌄

Across 1 recorded transaction, the median price is S$1,752 psf. The latest was in July 2012.

What is the nearest MRT station to Chelsea Grove?⌄

Novena MRT is the closest, 920 m away (about a 14-minute walk).

How many businesses are registered at Chelsea Grove?⌄

3 businesses are currently registered at this address with ACRA. That is a measure of registered addresses, not of how many businesses physically occupy the building.

For agents · in the PropKaki app

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Tell me about Chelsea Grove — recent transactions, zoning and what's listed there.

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This development is also registered as the residential project Chelsea Grove.

Read the figures right

Year of completion is not on record for this building. Building age cannot be stated.

Submarket: PropKaki's own map from URA's planning subzones (CBD core, City Hall / Bugis, Orchard, city fringe, regional centres, suburban). Brokers draw these lines differently.

Station taps: average weekday fare-card taps in and out at the nearest MRT/LRT station (LTA DataMall). People passing the station's gates, not people visiting this building.

Season parking: the cheapest URA car season rate (commercial ticket) at a public car park within 500 m, per month. HDB's season rates depend on a zone we don't have, so they are shown as HDB's tiers.

Foot-traffic score: PropKaki's relative score from nearby MRT and bus taps, workers and residents around (and, for retail, competing malls), ranked against buildings of the same kind. A percentile, not a count of people.

Company REGISTRATIONS at this address (ACRA), not a tenancy schedule. Registration does not mean the company physically occupies space here, and a low count does not mean the building is empty. Do not describe this as occupancy or vacancy.

Unbuilt GFA cannot be computed here — it needs BCA built-GFA, which covers about 5% of commercial buildings and no industrial ones. Zoning and plot ratio are on record; headroom is not.

Storeys: from OpenStreetMap (© OpenStreetMap contributors), volunteer-mapped, not an official record. Shown only because no official or listed floor count is held for this building.

Reviewed by Nathan Tang

Nathan Tang has over 10 years of property experience across condominiums, HDB flats and commercial property, specialising in property research and finance.

Figures draw on URA and JTC records, URA Master Plan zoning, ACRA registrations and live commercial-portal listings; building facts from PropKaki's submarket map, URA car park data (URA Data Service), LTA DataMall passenger volumes, PropKaki's foot-traffic model, OpenStreetMap (© OpenStreetMap contributors) — see our methodology. Last updated 8 November 2026. For general information, not financial advice.

Getting there and parking: LTA DataMall passenger volumes and car parks, URA Data Service car park rates, HDB and JTC car park information (data.gov.sg) and HDB's published parking charges, Census of Population 2020 and the Singapore Department of Statistics' June 2026 resident population (Singapore Open Data Licence). The foot-traffic score is PropKaki's own relative model, not a count.

Market context: figures cited from CBRE Research (Singapore Figures) and Cushman & Wakefield (Singapore MarketBeat), each with its quarter and report; flexible-workspace centres from the operators' public location lists; collective sales from marketing agents' announcements and news reports, each linked.

Rents: URA rental statistics for office and retail space by street (IRAS-stamped contracts), JTC J-SPACE rentals by building and by street, JTC price tenders, and URA REALIS rental grids. SLA tender results and JTC posted land rents are held for state and JTC land.