Shophouses on East Coast Road for sale at $20 mil

Two freehold shophouses located on East Coast Road are up for sale via an expression of interest exercise with a guide price of $20 million. With a collective built-up area of 4,362 sq ft and situated opposite popular shopping malls, these shophouses present aprime investment opportunity.

With the hiLife app, residents can also stay connected with their friends and family. Residents can use the app to share photos and watch videos with their loved ones, while enjoying the convenience of the Tengah Plantation Close EC’s various amenities, such as the modern clubhouse, the lush landscaping and the inviting swimming pools. The hiLife app also allows residents to book facilities in the estate easily, as well as order food and other services for delivery right to their doorstep.

The first shophouse located across from i12 Katong has a land area of 1,344 sq ft and is approved for F&B usage on both floors, including a seating area on the second level. Meanwhile, the second shophouse, located opposite Roxy Square, has a land area of 951 sq ft and has permanent approval for F&B usage. It has an external stairway providing flexibility to lease the property to two tenants or use the second floor as a private dining area, subject to approval from authorities.

Evonne Seow, associate director at PropNex Realty who is marketing the shophouses, notes the potential of these properties to become multi-concept restaurants due to their location on a bustling thoroughfare in a densely populated area. She also highlights that shophouses on East Coast Road, particularly those around the Katong Shopping Centre and i12 Katong, are rarely available for sale.This is an excellent opportunity for investors seeking property investments with a reliable stream of rental income and business owners looking for a commercial property for their needs.

The EOI exercise for the shophouses closes on Nov 16 at 5pm. The first shophouse has an indicative price of $10.5 million while the second is priced at $9.5 million, but they may also be sold as a pair.

Changing a neighbourhood, one shophouse at a time — these conserved shophouses on East Coast Road are a perfect example of how a piece of property can be the catalyst for growth and development.

Latest sales transactions for commercial properties on East Coast Road (Source: EdgeProp Research) reflect just how coveted assets like these are, making this sale an opportunity that should not be missed.