A prime opportunity has emerged in the vibrant Katong area with the sale of a three-storey freehold shophouse at 235 East Coast Road. This property is being offered at a guide price of $15.5 million, making it an attractive prospect for investors and business owners alike.
With a plot size of approximately 1,905 square feet and a built-up area of around 4,700 square feet, the property is listed at a price of $3,703 per square foot. This pricing reflects the area’s desirability and the unique attributes of the shophouse.
The shophouse is zoned for commercial use under the 2019 Urban Redevelopment Authority (URA) Master Plan, which adds to its potential for various business ventures. The plot has a plot ratio of 3.0, allowing for a potential gross floor area (GFA) expansion of up to 5,716 square feet. This aspect offers a significant opportunity for future development, giving buyers the flexibility to adapt the space for their needs.
Its strategic location on East Coast Road enhances accessibility and visibility, essential factors for any commercial enterprise.
Being a conservation property, the shophouse possesses a distinct charm and historical significance that elevates its market value. Conservation properties often attract buyers due to their unique architectural features and the prestige associated with owning a piece of heritage.
In a highly sought-after location like Katong, the property stands out not just for its functionality but also for its aesthetic appeal, drawing interest from both domestic and foreign buyers.
The shophouse is open to foreign buyers, which broadens the pool of potential purchasers. This inclusivity is particularly advantageous in the current market, where international investors are keen to explore opportunities in Singapore’s real estate sector.
Furthermore, foreign buyers are exempt from additional stamp duties, making this property even more enticing for overseas investors looking to enter the local market without the added financial burden.
Interested buyers can participate in the Expression of Interest (EOI) exercise, with the deadline set for July 16. This structured process provides a clear timeline for prospective buyers to submit their offers, ensuring transparency and fairness in the bidding process.
The EOI exercise allows interested parties to gauge the level of competition and make informed decisions regarding their bids.
NEW CONDO LAUNCH: SPRINGLEAF MODERN
Springleaf Modern is an exciting new condominium launch, offering a variety of modern living spaces designed to meet urban lifestyle needs.
The development features one to four-bedroom apartments, catering to diverse preferences, and is strategically located near major transport links for easy access to city life.
Residents can enjoy a range of amenities, including a swimming pool and gym, enhancing their living experience.
For detailed Springleaf Modern project information and to explore the Springleaf Modern floor plan, interested buyers can access the Springleaf Modern E-brochure.
View Springleaf Modern ShowFlat & Get VVIP Discount.
Register or contact 6100 8822 to book showflat appointment.
News Source: Edgeprop
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