A prime investment opportunity has arisen with the sale of a three-storey freehold shophouse located at 235 East Coast Road. This property is being offered at a guide price of $15.5 million, which equates to approximately $3,703 per square foot based on its built-up area of around 4,700 square feet. The shophouse occupies a plot size of approximately 1,905 square feet and is zoned for commercial use, making it suitable for various business ventures.
The distinctive zoning of the property, combined with its plot ratio of 3.0, presents an enticing prospect for investors. This ratio allows for a potential gross floor area (GFA) increase of up to 5,716 square feet through addition and alteration works, providing significant opportunities for expansion or redevelopment. Such flexibility makes the shophouse an appealing choice for both established businesses and new ventures looking to capitalize on the prime location.
Strategically positioned along East Coast Road, the shophouse is situated in an area that is highly sought after by both locals and expatriates. The surrounding community consists of affluent residents, creating a robust customer base for businesses operating in the vicinity. This demographic is likely to contribute positively to the commercial viability of any enterprise established within the shophouse, whether it be retail, dining, or service-oriented.
Moreover, the shophouse holds a conservation status, which not only preserves its historical significance but also enhances its market value. Such properties are often viewed as unique commercial spaces that stand out in the competitive real estate landscape. The charm and character associated with conservation properties can attract customers looking for authentic experiences, further increasing the appeal for potential investors.
The selling process includes an Expression of Interest (EOI) exercise, with interested buyers having until July 16 to submit their offers. This timeline allows potential investors to conduct due diligence and assess the viability of the investment.
Additionally, there are favorable conditions for foreign buyers and companies, as no Additional Buyers Stamp Duty (ABSD) or Sellers Stamp Duty (SSD) is applicable. This aspect presents an advantageous entry point for international investors who may be looking to establish a presence in Singapore’s thriving commercial market.
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News Source: Edgeprop
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