Two-bedroom unit at Eon Shenton for sale at $1.98 mil

to stage comeback

This enables them to travel to work, run errands, or access entertainment venues with ease.

Residents of Zion Road Condo looking for convenience definitely appreciate the vast bus network around the area. With express service numbers 56, 57, 93, and 970 available, residents can easily get to their destinations in the CBD, Marina Bay, Orchard Road, or elsewhere quickly and conveniently. This makes it easy for them to go to work, shop, or have leisure time without having to depend on expensive taxi services.

A two-bedroom unit on the 30th storey of Eon Shenton is being put up for sale via SRI’s upcoming auction on Nov 22, with a guide price of $1.98 million ($2,242 psf). The unit, which covers 883 sq ft, is a leasehold condo situated on Shenton Way in Singapore’s bustling Downtown Core area (District 2), and is an owner’s sale.

The floorplan shows the two-bedroom unit to include an en suite master bedroom, a dining and living room, a kitchen, and an additional bedroom, each with separate balconies connected to the respective rooms.

Residents of the high-floor unit will benefit from excellent ventilation, plus easy access to the nearby Tanjong Pagar MRT Station. Additionally, future residents can look forward to ample shopping and amenities nearby, such as Icon Village, 100AM Mall, and the Tanjong Pagar Plaza Market and Food Centre. The Eon Shenton condo also sits right across from the upcoming Prince Edward MRT Station on the Circle Line.

The unit was purchased in July 2016 for about $1.60 million ($1,818 psf). The owner, who declined to disclose the current rental rate, did however say that based on URA sales data in the last 12 months, Eon Shenton units typically rent between $3.60 psf per month (pm) and $12.60 psf pm, or an average of $7.90 psf pm – translating to a rental yield of 4.3%.

Eon Shenton has seen eight transactions this year, with the latest in September when a 689 sq ft two-bedder changed hands for about $1.36 million ($1,973 psf). According to EdgeProp Singapore’s LandLens tool, the buyer profile of Eon Shenton units is mainly made up of Singaporeans, who form 78.9% of the buyers, with PRs making up 13.4% and foreigners 7.7%.

When compared to other 99-year leasehold condos in the area, such as Wallich Residence on Wallich Street and V On Shenton on Shenton Way, which were completed in 2017, the rental yield of the unit at Eon Shenton is higher. Based on caveats lodged in the past 12 months, units at Eon Shenton were resold for between $1,705 psf and $2,477 psf, or an average of $2,219 psf.

Eon Shenton comprises residential units, strata offices and shops, developed by Roxy-Pacific Holdings’ 70 Shenton, and houses 132 units in total.

It’s clear the unit on sale comes with a range of benefits for prospective buyers, not least the owner’s guide price of $1.98 million ($2,242 psf). While the exact yield for the two-bedroom unit is uncertain, given the current going rate for Eon Shenton units it is likely to make for a profitable investment.