Shophouses on East Coast Road for sale at $20 mil

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Two conserved freehold shophouses located along bustling East Coast Road are up for sale via an expression of interest exercise with a guide price of $20 million. The first property is situated opposite i12 Katong and has a land area of 1,344 sq ft whereas the second shophouse across from Roxy Square has a land area of approximately 951 sq ft.
Each of these two-storey shophouses have been zoned for commercial use and have a collective built-up area of about 4,362 sq ft.

The first property has approval for F&B use on both floors, including a seating area on the second level. The second property, in contrast, has permanent approval for F&B usage. It also has an external staircase, giving the new owner the option to lease the property to two separate tenants or to establish a private dining area on the second floor, subject to approval from the authorities.

The pair of shophouses are being sold either individually or collectively. The guide price for the former is set at $10.5 million for the former and $9.5 million for the latter.

Evonne Seow, associate director at PropNex Realty which is marketing the shophouses, highlights the potential for buyers to convert the shophouses into a multi-concept restaurant. She also points out the rarity of such properties on the East Coast Road stretch opposite Katong Shopping Centre to i12 Katong.

“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,” Seow states.

The EOI exercise for the shophouses will close on Nov 16 at 5pm.

Commercial properties on East Coast Road have been seeing rapid activity in recent months. In addition to this pair of shophouses, a shophouse at Tanjong Pagar Road was recently put up for sale at $14.6 mil as well as two strata retail units at EastGate on the market for $23.8 mil.

Given its strategic location, East Coast Road is an ideal spot for property owners and investors looking for excellent yield potential and high rental returns. Furthermore, with a vibrant neighbourhood, it offers the perfect balance of prestige and convenience.