A prime investment opportunity has emerged with the listing of a three-storey freehold shophouse at 235 East Coast Road, offered at a guide price of $15.5 million. This property, with a built-up area of approximately 4,700 square feet, translates to a price of $3,703 per square foot. The shophouse is situated on a plot size of about 1,905 square feet and is zoned for commercial use, which presents significant development potential under the 2019 URA Master Plan.
The zoning classification allows for a variety of commercial activities that can be conducted within the premises, appealing to a wide range of potential buyers and investors. One notable aspect of this property is its plot ratio of 3.0, which means that the gross floor area (GFA) could be expanded to up to 5,716 square feet through addition and alteration works. This potential for expansion makes it an attractive option for those looking to capitalize on the growing demand for commercial spaces in the area.
Another compelling feature of the shophouse is its status as a conservation property. This classification not only enhances its aesthetic appeal but also adds to its intrinsic value in a highly sought-after market along East Coast Road. Properties that are designated as conservation buildings often benefit from a unique charm and historical significance, which can attract tenants and customers alike. The preservation of such properties is crucial in maintaining the character of the surrounding neighborhood, thereby increasing their desirability.
The location of the shophouse along East Coast Road is particularly advantageous. This area is known for its vibrant lifestyle, bustling with activity, and offers a diverse range of dining, shopping, and entertainment options. The accessibility of this location makes it convenient for both locals and visitors, further increasing its potential for commercial success. Given the ongoing urban development and revitalization efforts in Singapore, properties in such prime locations are expected to appreciate in value over time.
Interested buyers, including foreign investors, have the opportunity to participate in the Expression of Interest (EOI) exercise for this shophouse, with the deadline set for July 16. The absence of Additional Buyers Stamp Duty (ABSD) or Sellers Stamp Duty (SSD) for this transaction further sweetens the deal, making it an appealing prospect for investors looking to maximize their returns without facing additional financial burdens.
NEW CONDO: GEMS VILLE
GEMS VILLE is an impressive new condominium development featuring modern architectural design and high-quality finishes.
With a variety of unit types available, including one-bedroom to larger family-sized apartments, it caters to diverse buyer preferences.
The project offers excellent amenities, such as a swimming pool, gym, and landscaped gardens, ensuring a luxurious living experience.
Strategically located near key amenities and transportation hubs, GEMS VILLE is ideal for both local and expatriate buyers.
For more details, you can access the GEMS VILLE E-brochure and explore the GEMS VILLE Floor Plan.
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News Source: Edgeprop
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