Read related article: Unit at Martin No 38 for sale on the market for $2.688 mil
A freehold five-storey construction at 143 East Coast Road is currently in the marketplace from $19 million ($2,219 psf on present built-up area). The building was formerly home to MindChamps preschool and has been rebuilt at 2018. It’s now being rented to 5 Measures Academy and appreciates a steady rental return between 2% and 2.5%.
The home has a glass outside and is visible in the intersection between East Coast Road and Joo Chiat Road. With a land area of 2,251 sq feet and a built-up region of 8,563 sq feet, the home also offers an open patio on the fifth floor. The rear lane has an extra drop-off point for visitors and occupants.
Situated across I12 Katong, that is now closed for renovation, the house can be just a few minutes by foot into the forthcoming Marine Parade MRT Station.
You will find additional F&B institutions in close proximity, including NineThirty from Awfully Chocolate, Zaffron Kitchen and Sin Hoi Sai Eating House.
“Marine Parade MRT Station increases traffic to East Coast Road, further diluting the upside value of your house,” states Loyalle Chin, associate division manager at PropNex Realty.
Furthermore, Chin claims that the industrial worth of East Coast Road is rising since there are lots of new residential developments which are just about to acquire Temporary Occupation Permit (TOP) this season, including Amber 45, MeyerHouse, Vanilla and Seaside Residences.
The land is chock full”commercial” and isn’t subject to further purchaser’s stamp duty. Foreigners are entitled to buy.