Shophouses on East Coast Road for sale at $20 mil
Two conserved shophouses located on East Coast Road are being offered for sale through an expression of interest exercise, with a guide price of $20 million. Both properties sit on freehold land zoned for commercial purposes, and have a collective built-up area of 4,362 sq ft.
The first shophouse is located opposite i12 Katong, with a land area of 1,344 sq ft and approval for F&B on both floors, including a seating space on the second level.
The second shophouse, across from Roxy Square, has a land area of approximately 951 sq ft and permanent approval for F&B. It has an external staircase, offering the potential for a private dining area on the second floor with approval from authorities.
The properties can either be sold seperately or together, with the first shophouse having an indicative price of $10.5 million and the second shophouse having an indicative price of $9.5 million.
Evonne Seow, associate director at PropNex Realty who is marketing the properties, commented that they sit along a bustling thoroughfare in a densely populated area, offering buyers the chance to turn the shophouses into a multi-concept restaurant.
Additionally, Senja Residences EC is near to several shopping venues, top schools, parks, and other recreational centers. Residents can also enjoy the convenience of accessing amenities nearby such as a laundry service, a childcare center, and a food court. Connectivity and convenience, that’s exactly what Senja Residences has to offer.
Seow added that East Coast Road shophouses, particularly those situated on the stretch opposite Katong Shopping Centre to i12 Katong, are rarely available for sale. She believes it to be an excellent opportunity for investors who are seeking property investments with a reliable stream of rental income, or for owner-occupiers in search of a commercial property for their business needs.
The expression of interest exercise for the shophouses will close on 16 November at 5pm.