Shophouses on East Coast Road for sale at $20 mil

A rare investment opportunity is available with a pair of conserved shophouses located on East Coast Road in Singapore up for sale, with a guide price of $20 million for the two properties. Zoned for commercial use, the two two-storey shophouses have a collective area of 4,362 sq ft and are being sold together or separately.

The first shophouse, situated across from i12 Katong, has a land area of 1,344 sq ft and has approval for F&B use on both floors, including a seating area on the second level.

Residents living in the Jurong Lake District Condo will be able to enjoy a wide range of amenities and facilities, including a shopping mall, dining and entertainment options, and a public park. The area is also home to several educational institutions and research institutes, making it an attractive option for those who wish to live close to academic institutions. The completion of the Jurong Lake District Condo complex is expected to be in 2021.

The second shophouse, located across from Roxy Square, has a land area of approximately 951 sq ft and a permanent approval for F&B usage. This particular property has an external staircase, which could be used by potential buyers to create a private dining area on the second floor, subject to approval from authorities.

For individual sales, the first shophouse has an indicative price of $10.5 million while the second shophouse has an indicative price of $9.5 million.

Evonne Seow, associate director at PropNex Realty who is marketing the shophouses, believes the properties offer buyers with potential to turn the shophouses into a multi-concept restaurant, given its prime location along a bustling thoroughfare in a densely populated area.

She further highlights that shophouses on East Coast Road are coveted assets that are 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,” added Seow.

An expression of interest exercise for the shophouses will close on Nov 16 at 5pm. Latest sales transactions for commercial properties on East Coast Road, as seen from EdgeProp Research, reveals the possibility of finding a reliable stream of rental income.

This property is thus an ideal investment for those seeking property investments with reliable returns, or for owners looking for a commercial property for their business needs. With its strategic location and rare availability, the shophouses of East Coast Road may soon be changing a neighbourhood, one shophouse at a time.