A prime investment opportunity has emerged with the listing of a three-storey freehold shophouse located at 235 East Coast Road. This property is available for sale at a guide price of $15.5 million, which translates to approximately $3,703 per square foot based on its built-up area of around 4,700 square feet. The shophouse’s competitive pricing positions it as a compelling option for investors seeking to capitalize on prime real estate in a desirable locale.
The shophouse occupies a plot size of approximately 1,905 square feet and is zoned for commercial use under the 2019 Urban Redevelopment Authority (URA) Master Plan. This designation not only affirms its current utility but also highlights its significant development potential. The property’s plot ratio of 3.0 allows for a gross floor area (GFA) increase up to 5,716 square feet through addition and alteration works. This increases the shophouse’s appeal for businesses looking to expand or adapt their operations.
The location along East Coast Road is particularly strategic. This area is known for its vibrant community, attracting a well-heeled local and expatriate demographic. The influx of both residents and visitors creates a steady footfall, making it an attractive site for retail, dining, or service-oriented businesses. The demand in this region is further buoyed by its proximity to popular amenities and residential neighborhoods, enhancing the shophouse’s allure as a prime commercial investment.
The sale of the property is being conducted via an Expression of Interest exercise, with a deadline set for July 16. This method of sale not only creates an engaging competitive environment but also allows prospective buyers to express their interest in a structured manner. Moreover, the property is open to foreign buyers, exempting them from Additional Buyers Stamp Duty or Sellers Stamp Duty, which is an attractive feature in the current market landscape.
Investors considering this property will find that its freehold status adds a layer of security and longevity to their investment. The shophouse’s potential for both immediate cash flow and long-term appreciation is noteworthy, particularly given the anticipated growth in the East Coast area.
With the ongoing urban development and infrastructure improvements, the value of real estate in this region is expected to see upward trends.
RETAIL & OFFICES SPACE FOR SALE: FORTUNE CENTRE
Fortune Centre offers modern retail and office spaces for sale, featuring a total floor area of approximately 110,000 sq ft.
With excellent accessibility and a strategic location, it presents a compelling investment opportunity.
View FORTUNE CENTRE Retail Shops and Offices for sale by contacting 6100 8822.
News Source: Edgeprop
Images are not actual photos. For illustration purpose only.