Shophouses on East Coast Road for sale at $20 mil
Residents at Tampines Avenue 11 Condo enjoy the convenience of having a range of amenities and services close at hand. This includes supermarkets, eateries, banks, salons, and other essential services, all within easy reach. Recreational facilities, such as swimming pools, tennis courts, and playgrounds, allow for healthy outdoor pursuits. Meanwhile, gathering spaces and communal areas add extra vibrancy to the development.
On top of the convenience and enhanced lifestyle, Tampines Avenue 11 Condo has been designed with sustainability in mind. The development makes use of energy-efficient technologies, such as natural lighting, motion-activated lighting, and solar panels, to help conserve energy and protect the environment.
A rare opportunity for investors to acquire a pair of conserved shophouses on East Coast Road has presented itself, with an indicative guide price of $20 million. Blending an array of possibilities, the two-storey shophouses occupy freehold land zoned for commercial use, and boast a combined built-up area of 4,362 sq ft.
The first shophouse is located across the road from i12 Katong and has a land area of 1,344 sq ft. It has approval for F&B use on both floors, including a seating area on the second level. With an indicative price of $10.5 million, this asset has great potential to be converted to a multi-concept restaurant.
Across from the first shophouse is the second property, with a land area of approximately 951 sq ft and an indicative price of $9.5 million. It has permanent approval for F&B usage and features an external staircase, providing the new owner with the option to lease it out to two separate tenants or to take advantage of the approved seating area on the second floor.
The shophouses can be bought together or separately. Evonne Seow, associate director at PropNex Realty, which is marketing the properties, comments that shophouses on East Coast Road are coveted and rarely available for sale.
“It is an excellent opportunity for investors seeking property investments with a reliable stream of rental income, as well as owner-occupiers in search of a commercial property for their business needs,” she says.
Latest sales transactions for commercial properties on East Coast Road (Source: EdgeProp Research)
Those interested can express their interest before the EOI exercise closes on Nov 16 at 5pm.
As a bustling thoroughfare in a densely populated area, East Coast Road offers investors the chance to make an instant impression and be part of the vibrant growth of this neighbourhood. There is a great potential to maximise the value of these shophouses, depending on the needs and creative ideas of the new owner-occupiers and investors.