425 427
EAST COAST ROAD A PA I R O F C O N S E R V AT I O N F R E E H O L D S H O P H O U S E S W I T H VA LU E -A D D P OT E N T I A L
FOR SALE BY EXPRESSION OF INTEREST
425 427
EAST COAST ROAD
INTRODUCTION CBRE Pte. Ltd. (CBRE), as the exclusive marketing agent for 425 & 427 East Coast Road (“the Property”), is very pleased to present this rare and compelling opportunity to acquire a pair of 2-storey conservation freehold shophouse with vast potential for development. Sitting on a rectangular plot with a site area of approx. 2,380 sq ft, the Property enjoys approx. 10 metres of frontage along East Coast Road and has a depth of approx. 23 metres. By conserving the front façade of the shophouse, there is an option to increase the floor area from the existing 3,960 sq ft to 7,140 sq ft by constructing a new rear extension of up to 5 storeys. Shophouses along East Coast Road have always been tightly held and extremely rare for any, and especially those with un-utilized plot ratio and gross floor area, to be available for sale. Prospective buyers may exercise their creativity to carry out alterations and additions (A&A) enhancement works and configure the space to suit their own-use requirements or to cater to the needs of tenants. This is an exceptional and highly attractive acquisition opportunity that comes with immediate rental income and A&A enhancement opportunity in the short to median term. The Property is ideal for both investors and end-users, including retailers, law firms, corporates and family offices. The offering is for sale via an Expression of Interest (“EOI”) exercise, which closes on 31 March 2021 (Wednesday) at 3pm.
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425 427
EAST COAST ROAD
KEY INVESTMENT HIGHLIGHTS
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EXECUTIVE SUMMARY
Freehold Tenure
Rare F&B approval on the ground floor of 425 East Coast Road - Urban Redevelopment Authority (URA) has stopped issuing F&B license approval in the area. - Higher demand for shophouses with F&B approval and will likely benefit both the rental and capital value of the asset.
Easy Accessibility - Numerous bus routes along East Coast Road, Telok Kurau Road and Still Road. - Near to several MRT stations such as Eunos MRT (EW7) and Kembangan MRT (EW6) as well as future Marine Terrace MRT (TE27). - Well-connected to 2 major Expressways – East Coast Parkway Expressway (ECP) and Pan-Island Expressway (PIE).
Prominent frontage along East Coast Road – Potential for building naming rights
Versatile Usages - Equipped with water points and floor traps which allow versatile usages
Sale with Tenancy - Immediate rental income
Limited Edition – Tightly held & Scarcely available for sale - Conserved shophouse with distinctive façade, unique charm, rich architectural heritage and historical value
Value-Add Potential to increase the floor area - Option to maximize the un-utilized GFA from the existing 3,960 sq ft to 7,140 sq ft by building a new rear extension of up to 5 storeys to the maximum plot ratio of 3.0.
Strategically located in the heart of Katong / East Coast area - High footfall in this area with famous restaurants, bars and localized shopping malls. - Ready catchment of potential customers for retail cum F&B businesses - Tremendous growth at the nearby Paya Lebar sub-regional centre provides excellent potential for rental and capital appreciation
Efficient Layout Plan and Site Configuration
Single Ownership - Deal certainty for buyer
425 427
EAST COAST ROAD
EXECUTIVE SUMMARY
Address
425 & 427 East Coast Road, Singapore 429012 & 429014
Property Description
The Property is a pair of 2-storey shophouses with residential units on the upper floor and retail units on the ground floor. Sits on a rectangular site, the Property enjoys an approx. 10 metres of frontage along East Coast Road and an average depth of approx. 23 metres. There is an excellent potential to tap on its un-utilized plot ratio by constructing a new rear extension of up to 5 storeys.
Legal Description
Lot No 98054W of Mukim 26
Master Plan 2019
Zoned “Residential with Commercial at 1st Storey” at Plot Ratio of 3.0 Within Joo Chiat Secondary Settlement Conservation Area with rear extension up to 5 storeys
Tenure
Freehold
Site Area
2,380 sq ft (approx.)
Existing Floor Area*
Ground Floor – 2,200 sq ft (approx.) 2nd Floor – 1,760 sq ft (approx.) Total – 3,960 sq ft (approx.)
Maximum Allowable Gross Floor Area
Ground Floor – 2,200 sq ft (approx.) Upper Floors – 4,940 sq ft (approx.) Total – 7,140 sq ft (approx.)
Remarks
Sale with Tenancy
Mode of Sale
Expression of Interest
Closing Date
31st March 2021, Wednesday at 3pm
Site Inspection
Interested parties are encouraged to contact CBRE to arrange for a site inspectioninspection
*Subject to final survey P. 6
EXECUTIVE SUMMARY
CADASTRAL MAP NOT DRAWN TO SCALE
65 A
6- 0 M K2
44 99
MK26-05327V
T 12 37
3 6- 1 0
MK26-10364T
-0 26 MK
M K2
MK26-10037K
X
MK26-95147M
MK26-09035X
MK26-98048L
-1 26 MK K 26 01
MK26-98051L MK26-98052C
k
53 M
Te lo
0 6- 9 8
Ku
55 V
ra u
0 6- 9 8
W 0 54 6- 9 8 M K2 .1 s q m 22 1 57 3 CP 9
M K2 MK26-98056P
M K2
MK26-06043X
MK26-10125A
MK26-09036L
Ro ad
MK26-09001A
MK26-08792K
Ea st
C oa st
MK26-08969X
R oa d MK26-04092V
Singapore Land Authority Integrated Land Information Service (INLIS) Cadastral Map Lot Boundary
MK26-08968N
MK26-08793N
MK26-06044L
MK26-08791A
/
2.51.25 0
2.5
5
7.5
10 12.5 15 17.5 20 22.5 m
1:500
Selected Lot(s): MK26-98054W
This Map is NOT the authority on International Boundaries
J2275631B
Date: 3/2/2021
Time: 12:12:00 PM
© 2019 Singapore Land Authority.
TYPICAL FLOOR PLAN
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425 427
EAST COAST ROAD
LIFESTYLE LOCATION As one of Singapore’s most iconic neighborhoods that is designated as the first “Heritage Town” in 2011, East Coast / Joo Chiat is characterized by a mix of colorful shophouses of Peranakan (Straitsborn people of Chinese and Malay/Indonesian heritage) heritage that house popular F&B shops, trendy bars and hipster cafes. Much of the district’s charm comes from its historical heritage as a Peranakan enclave that has been beautifully retained, which juxtaposes a trendy vibe with restaurants, cool cafes and bars and hipster boutiques. The area is not only popular among locals and the nearby office crowd during daytime, it also transforms into a vibrant district by night time, frequented by after-work crowds, tourists and residents. Some of the well-known F&B establishments at this bustling lifestyle destination include Madnest, Beach Road Prawn Mee Eating House, Penny University Artisanal Café and Al Forno (East Coast Road). The Property is prominently located near to the junction of East Coast Road and Telok Kurau Road and falls within the Joo Chiat Conservation Area of high density commercial and residential developments. The immediate vicinity is home to a mix of old and new commercial businesses, conservation houses, hotels as well as numerous eateries, markets and shopping malls, which contributes to the bustling area. By virtue of the seamless connectivity to the surrounding precincts, the Property is able to tap onto the residential catchment of Joo Chiat / East Coast residential enclaves, underpinned by a multitude of residents. The Property is about 5 minutes’ drive to Eunos MRT (EW7) and Kembangan MRT (EW6) as well as future Marine Terrace MRT (TE27). It is also easily connected to other parts of the island via major arterial roads and expressways such as the East Coast Expressway (ECP), Pan Island Expressway (PIE) and Kallang-Paya Lebar Expressway (KPE), etc.
425 427 EAST COAST ROAD
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EXECUTIVE SUMMARY
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CONTACT ANGELA LIM Salesperson Reg No.: R053573J
T: +65 6328 1346 M: +65 9759 2282 angela.lim@cbre.com CBRE PTE. LTD. 6 Battery Road #32-01 Singapore 049909 T: +65 6224 8181 F: +65 6221 2232
© 2021 CBRE Group, Inc. Information herein is based on third party sources we believe reliable and we do not assure its accuracy or completeness. Offerings are subject to price changes, rental, other conditions, prior sale, lease or financing, or withdrawal without notice. Historical estimates are for reference only, and do not promise current or future performance. You should hire your own professional advisors to investigate the property and transaction. Agency License No.: L3002163I.