With a land area of 10,236 square feet, the location currently houses one of the company’s tyre retail outlets
[SINGAPORE] Tyre and wheel distributor Stamford Tyres (Stamford) has put its commercial property at 455 MacPherson Road up for sale.
According to a listing on CommercialGuru, the property is being marketed at a starting price of S$12.5 million.
In response to queries from The Business Times, a Stamford spokesperson said: “(Our) senior management assesses it is best to unlock value from the MacPherson site and use the sales proceeds to re-invest in our core distribution businesses and to consider new projects.”
Stamford has faced recent difficulties as costs have expanded, despite revenue increasing slightly.
On Aug 29, it reported a sharp drop in profit of 84.7 per cent or S$5.1 million to S$921,000 for the financial year ended April 2025, although revenue was up 1.5 per cent or S$2.9 million to S$193.2 million.
“We are not downsizing. In recent years, Stamford Tyres has opened three new retail outlets – Serangoon Gardens, Dunearn and Sin Ming – as part of our ongoing strategy to upgrade and refresh our retail services network, in order to stay competitive,” said the spokesperson.
“Multi-storey” redevelopment possible
Sited at the T-junction of MacPherson Road and Kampong Ampat, the property being put up for sale currently houses one of the company’s tyre retail centres, which is still in operation.
The Stamford representative said the outlet could possibly continue operations by leasing the premises from the new owners, and that the company was open to exploring options.
It is zoned under B1 light industrial use with a gross plot ratio of 2.5, with a land area of 10,236 square feet (sq ft). The site includes a two-storey building with a gross floor area of 7,382 sq ft.
Stamford noted that the site can be redeveloped into a “multi-storey building”.
The site has a 99-year lease tenure from JTC, which began on Apr 1, 1965, with a balance of 39 years. Stamford added that it was unable to comment on any possible extension of the lease, as that would be subject to approval by authorities.
The site is on a list of major properties in Stamford Tyres’ 2025 annual report, which indicates it has been held by the company since 2001.
Stamford Tyres owns 14 retail outlets, including two service outlets situated within Caltex service stations. Its operations in the Republic contribute the largest proportion of its revenue, or 42 per cent.
It also has operations in Malaysia, Indonesia, Vietnam, Thailand and South Africa, and a factory in Thailand.
For its financial year ended April 2025, costs rose 4.9 per cent or S$8.9 million to S$192.2 million from S$183.3 million, mostly due to an increase in cost of goods sold and other operating expenses.
The group attributed the increased operating costs to higher freight charges, more stringent import quotas, and anti-dumping duties.
Operating expenses increased by 3.9 per cent, rising to S$51 million from S$49.1 million in the previous year. This rise was primarily attributed to higher operating costs, increased depreciation and greater lease expenses, that were partially mitigated by lower outlays on staff, marketing, utilities and repairs.
In late 2024, Stamford’s founder Wee Kok Wah passed away.
His father, Wee Boon Kwee, started the business as a petrol station and tyre shop on Stamford Road in the 1930s. The younger Wee renamed the business as Stamford Tyres and brought the company public in 1991.
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