Located at 235 East Coast Road, a three-storey freehold shophouse is currently on the market with a guide price of $15.5 million, equating to $3,703 per square foot based on its built-up area of approximately 4,700 sq ft.
This property presents a unique opportunity for investors and business owners alike, given its strategic location in a vibrant commercial area. The shophouse spans a plot size of around 1,905 sq ft and has been zoned for commercial use under the 2019 Urban Redevelopment Authority (URA) Master Plan, allowing for a plethora of potential developments and alterations.
The property is classified as a conservation shophouse, adding a layer of historical significance and aesthetic charm that can appeal to prospective buyers. This classification not only enhances the property’s intrinsic value but also contributes to its attractiveness as a long-term investment.
Located in a sought-after area, the shophouse is likely to draw interest from both local and foreign investors, particularly those with an eye for properties that combine heritage with modern commercial potential.
With a plot ratio of 3.0, the shophouse has the capacity for gross floor area (GFA) expansion up to 5,716 sq ft. This means that the new owner could potentially develop the space further, creating additional opportunities for rental income or business expansion.
The flexibility in development options is a significant draw for potential buyers, as it allows for creative use of the property in an area known for its bustling commercial activity.
The Expression of Interest (EOI) exercise for the sale of this shophouse is open until July 16, creating a time-sensitive opportunity for interested parties. Notably, there are no Additional Buyers Stamp Duty (ABSD) or Sellers Stamp Duty (SSD) applicable to foreign buyers and companies, making it an appealing option for international investors looking to enter the Singapore market.
This aspect could further widen the pool of potential buyers, as it removes a common financial barrier that foreign investors often face when purchasing property in Singapore.
The surrounding neighborhood is characterized by a mix of residential and commercial properties, which adds to the shophouse’s appeal. The area is well-connected, making it accessible to both customers and employees, a crucial factor for any business.
With numerous amenities, restaurants, and shops nearby, the location is primed for success in a competitive market.
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News Source: Edgeprop
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