{"id":88520,"date":"2025-08-14T14:25:25","date_gmt":"2025-08-14T06:25:25","guid":{"rendered":"https:\/\/www.99.co\/singapore\/insider\/?p=88520"},"modified":"2025-08-25T10:37:53","modified_gmt":"2025-08-25T02:37:53","slug":"aaron-wan-39-93-east-coast-road-shophouses-for-sale","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/aaron-wan-39-93-east-coast-road-shophouses-for-sale\/","title":{"rendered":"Two rare dual-floor F&#038;B-approved freehold shophouses in East Coast Road for sale under S$20M"},"content":{"rendered":"<div id=\"bsf_rt_marker\"><\/div>\r\n<p><span style=\"font-weight: 400;\">If you\u2019ve been waiting for the right moment to enter the shophouse market, this is it.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Two very rare commercial shophouses at 39 and 93 East Coast Road are now on the market \u2013 together asking for under S$20 million. In today\u2019s competitive landscape, that\u2019s practically unheard of.<\/span><\/p>\r\n\r\n\r\n\r\n<div class=\"wp-block-yoast-seo-table-of-contents yoast-table-of-contents\">\r\n<h3>Table of contents<\/h3>\r\n<ul>\r\n<li><a href=\"#h-introducing-the-two-shophouses-39-and-93-east-coast-road\" data-level=\"3\">Introducing the two shophouses: 39 and 93 East Coast Road<\/a><\/li>\r\n<li><a href=\"#h-unmatched-investment-qualities-you-rarely-find-together\" data-level=\"2\">Unmatched investment qualities you rarely find together<\/a>\r\n<ul>\r\n<li><a href=\"#h-freehold-advantage-for-better-long-term-value\" data-level=\"3\">Freehold advantage for better long-term value<\/a><\/li>\r\n<li><a href=\"#h-rare-and-valuable-f-amp-b-approval-on-both-floors\" data-level=\"3\">Rare and valuable F&amp;B approval on both floors<\/a><\/li>\r\n<li><a href=\"#h-lowest-quantum-for-the-features-offered\" data-level=\"3\">Lowest Quantum for the features offered<\/a><\/li>\r\n<li><a href=\"#h-fully-commercial-zoning-no-absd-ssd-or-restrictions\" data-level=\"3\">Fully commercial zoning \u2013 No ABSD, SSD, or restrictions<\/a><\/li>\r\n<li><a href=\"#h-separate-entrances-a-huge-leasing-advantage\" data-level=\"3\">Separate entrances \u2013 a huge leasing advantage<\/a><\/li>\r\n<li><a href=\"#h-built-in-flexibility-and-stable-tenancy\" data-level=\"3\">Built-in flexibility and stable tenancy<\/a><\/li>\r\n<\/ul>\r\n<\/li>\r\n<li><a href=\"#h-prime-east-coast-road-where-culture-meets-commercial-demand\" data-level=\"2\">Prime East Coast Road \u2013 where culture meets commercial demand<\/a><\/li>\r\n<li><a href=\"#h-singapore-s-shophouse-market-strong-fundamentals-and-promising-returns\" data-level=\"2\">Singapore\u2019s shophouse market: Strong fundamentals and promising returns<\/a><\/li>\r\n<li><a href=\"#h-aaron-wan\" data-level=\"2\">Aaron Wan<\/a><\/li>\r\n<\/ul>\r\n<\/div>\r\n\r\n\r\n\r\n<h3 id=\"h-introducing-the-two-shophouses-39-and-93-east-coast-road\" class=\"wp-block-heading\"><b>Introducing the two shophouses: 39 and 93 East Coast Road<\/b><\/h3>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Let\u2019s break down the offerings:<\/span><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-table\">\r\n<table class=\"has-fixed-layout\">\r\n<tbody>\r\n<tr>\r\n<td><b>Property<\/b><\/td>\r\n<td><b>39 East Coast Road<\/b><\/td>\r\n<td><b>93 East Coast Road<\/b><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">Tenure<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">Freehold<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">Freehold<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">Zoning<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">100% Commercial<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">100% Commercial<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">Land size<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">~951 sqft<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">~1344 sqft<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">Max GFA<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">~2853 sqft<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">~4032 sqft<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">Plot ratio<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">3.0<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">3.0<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">Ground floor<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">BBQ restaurant with permanent F&amp;B approval\u00a0<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">Wonton, Dumpling and Dessert restaurant with F&amp;B approval<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">Second floor<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">Cheese &amp; Wine restaurant with F&amp;B approval<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">Baking Studio &amp; Teahouse with F&amp;B approval<\/span><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">Asking price<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$9M<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$11M<\/span><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Each shophouse is being sold as-is, with existing long-term tenancies in place. The sellers are non-GST registered companies. Buyers have the flexibility to purchase either shophouse individually or acquire both as a pair.<\/span><\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-unmatched-investment-qualities-you-rarely-find-together\" class=\"wp-block-heading\"><b>Unmatched investment qualities you rarely find together<\/b><\/h2>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">When evaluating a shophouse purchase, it\u2019s often difficult to find one that ticks every box:\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<ul class=\"wp-block-list\">\r\n<li><span style=\"font-weight: 400;\">Freehold tenure<\/span><\/li>\r\n\r\n\r\n\r\n<li><span style=\"font-weight: 400;\">100% commercial zoning across all floors, making the property eligible for foreign ownership.<\/span><\/li>\r\n\r\n\r\n\r\n<li><span style=\"font-weight: 400;\">Prime location<\/span><\/li>\r\n\r\n\r\n\r\n<li><span style=\"font-weight: 400;\">Stable rental income<\/span><\/li>\r\n\r\n\r\n\r\n<li><span style=\"font-weight: 400;\">Long-term potential with F&amp;B approval on both floors, offering future-proof income and strong tenant appeal.<\/span><\/li>\r\n<\/ul>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Yet, 39 and 93 East Coast Road deliver on all these fronts \u2013 and more.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">From their zoning advantages to tenant-friendly layouts and strategic placement in one of Singapore\u2019s most beloved city-fringe districts, these two properties represent a rare convergence of factors that investors look for but seldom find in a single opportunity.<\/span><\/p>\r\n\r\n\r\n\r\n<h3 id=\"h-freehold-advantage-for-better-long-term-value\" class=\"wp-block-heading\"><b>Freehold advantage for better long-term value<\/b><\/h3>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Freehold shophouses offer one of the strongest forms of property ownership in Singapore, giving you perpetual tenure, better long-term capital appreciation, and greater flexibility in planning for legacy or resale.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">In contrast, leasehold properties lose value over time as their tenure shortens \u2013 a risk clearly illustrated by <\/span><a href=\"https:\/\/www.businesstimes.com.sg\/property\/macau-property-magnate-loi-keong-kuong-and-family-sell-five-pagoda-street-shophouses-s50-7-million\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><span style=\"font-weight: 400;\">the recent sale of five leasehold shophouses on Pagoda Street.<\/span><\/a><span style=\"font-weight: 400;\"> Despite their prime Chinatown location, the properties were sold at S$50.7 million \u2013 about 13.5% below their original purchase price \u2013 mainly due to the diminishing lease, which had just 69 years left.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">This underscores why freehold assets like 39 and 93 East Coast Road are far more resilient and better poised for long-term growth.<\/span><\/p>\r\n\r\n\r\n\r\n<h3 id=\"h-rare-and-valuable-f-amp-b-approval-on-both-floors\" class=\"wp-block-heading\"><b>Rare and valuable F&amp;B approval on both floors<\/b><\/h3>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\"><img decoding=\"async\" class=\"alignnone size-full wp-image-88535\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-bbq-external.jpg\" alt=\"\" width=\"3000\" height=\"4000\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-bbq-external.jpg 3000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-bbq-external-1152x1536.jpg 1152w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-bbq-external-1536x2048.jpg 1536w\" sizes=\"(max-width: 3000px) 100vw, 3000px\" \/><\/span><span style=\"font-weight: 400;\">Securing F&amp;B approval in Singapore is no longer a given. With increasing URA restrictions due to infrastructure strain, noise concerns, and fire safety limitations, it has become considerably harder to get new F&amp;B usage approved \u2013 especially for upper floors or conserved shophouses. That\u2019s why 39 East Coast Road\u2019s permanent F&amp;B approval on the ground floor is so valuable. It guarantees continuity of F&amp;B operations without fear of future regulatory revocation.<\/span><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"3000\" height=\"4000\" class=\"wp-image-88532\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-dumping-wonton-exterior.jpg\" alt=\"\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-dumping-wonton-exterior.jpg 3000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-dumping-wonton-exterior-1152x1536.jpg 1152w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-dumping-wonton-exterior-1536x2048.jpg 1536w\" sizes=\"(max-width: 3000px) 100vw, 3000px\" \/><\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">What sets these properties even further apart is that both 39 and 93 East Coast Road are <\/span><b>approved for F&amp;B operations on both the ground and upper floors<\/b><span style=\"font-weight: 400;\">. This is exceptionally rare, especially considering that most commercial properties along this road only receive approval for one level, if at all.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"3000\" height=\"4000\" class=\"wp-image-88533\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-double-storey.jpg\" alt=\"\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-double-storey.jpg 3000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-double-storey-1152x1536.jpg 1152w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-double-storey-1536x2048.jpg 1536w\" sizes=\"(max-width: 3000px) 100vw, 3000px\" \/><\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">The value here is twofold: you can attract a wider variety of tenants, and those tenants can command higher revenue due to the usability of both floors. Whether it\u2019s a two-level dining concept, a wine bar and retail pairing, or different tenants entirely, the pre-approved nature of the space gives you unmatched operational flexibility and long-term security.<\/span><\/p>\r\n\r\n\r\n\r\n<h3 id=\"h-lowest-quantum-for-the-features-offered\" class=\"wp-block-heading\"><b>Lowest Quantum for the features offered<\/b><\/h3>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">In Singapore\u2019s competitive shophouse market, the value of 39 and 93 East Coast Road stands out immediately when compared to recent nearby transactions:<\/span><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-table\">\r\n<table class=\"has-fixed-layout\">\r\n<tbody>\r\n<tr>\r\n<td><b>Address<\/b><\/td>\r\n<td><b>Transacted price<\/b><\/td>\r\n<td><b>F&amp;B approval<\/b><\/td>\r\n<td><b>Notes<\/b><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">183 East Coast Road<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$10.3M<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">No<\/span><\/td>\r\n<td>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Shared staircase with limited flexibility for redevelopment unless both adjoining units are owned by the same party or an A&amp;A process is undertaken<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Lesser-footfall<\/span><\/li>\r\n<\/ul>\r\n<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">207 East Coast Road<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$10M<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">No<\/span><\/td>\r\n<td>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Internal stairs<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">No F&amp;B<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Less flexibility<\/span><\/li>\r\n<\/ul>\r\n<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><span style=\"font-weight: 400;\">272 East Coast Road<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">S$9.5M (Ask)<\/span><\/td>\r\n<td><span style=\"font-weight: 400;\">Retail only<\/span><\/td>\r\n<td>\r\n<ul>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Zoned mixed-use (&#8220;Residential with Commercial at 1st Storey&#8221;) \u2013 subject to SSD and ABSD.\u00a0<\/span><\/li>\r\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Foreigners are not eligible to purchase. Companies may incur 65% ABSD on the residential component.<\/span><\/li>\r\n<\/ul>\r\n<\/td>\r\n<\/tr>\r\n<tr>\r\n<td><b>39 East Coast Road<\/b><\/td>\r\n<td><b>S$9M (Ask)<\/b><\/td>\r\n<td><b>Permanent F&amp;B on ground floor, F&amp;B on second floor<\/b><\/td>\r\n<td><b>Prime location, both floors F&amp;B, 2 existing tenant streams<\/b><\/td>\r\n<\/tr>\r\n<tr>\r\n<td><b>93 East Coast Road<\/b><\/td>\r\n<td><b>S$11M (Ask)<\/b><\/td>\r\n<td><b>Both floors F&amp;B<\/b><\/td>\r\n<td><b>Larger site, separate entry, 2 existing tenant streams<\/b><\/td>\r\n<\/tr>\r\n<\/tbody>\r\n<\/table>\r\n<\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Take 183 East Coast Road, which sold in February 2024 for S$10.3 million \u2013 despite lacking F&amp;B approval and having only a shared staircase for tenant access. Similarly, 207 East Coast Road transacted at S$10 million in December 2024, without any confirmed F&amp;B permissions.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Even mixed-use assets are priced higher. A<\/span><a href=\"https:\/\/sg.news.yahoo.com\/corner-freehold-shophouse-272-east-010000859.html\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><span style=\"font-weight: 400;\"> current listing at 272 East Coast Road is asking S$9.5 million,<\/span><\/a><span style=\"font-weight: 400;\"> but it&#8217;s zoned &#8220;Residential with Commercial at 1st Storey.&#8221; That zoning comes with notable restrictions: SSD and ABSD apply, foreign ownership is limited, and repositioning the space is far more difficult.<\/span><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"3000\" height=\"4000\" class=\"wp-image-88529\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-interior-2.jpg\" alt=\"\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-interior-2.jpg 3000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-interior-2-1152x1536.jpg 1152w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-interior-2-1536x2048.jpg 1536w\" sizes=\"(max-width: 3000px) 100vw, 3000px\" \/><\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">As a whole, with the 39 and 93 East Coast Road shophouses, you\u2019re looking at two properties with far superior features \u2013 full F&amp;B approval on both floors, separate entrances for one of them, and land title ownership \u2013 all for a combined quantum of under S$20 million.<\/span><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"4000\" height=\"3000\" class=\"wp-image-88527\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-second-floor1.jpg\" alt=\"\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-second-floor1.jpg 4000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-second-floor1-1536x1152.jpg 1536w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-second-floor1-2048x1536.jpg 2048w\" sizes=\"(max-width: 4000px) 100vw, 4000px\" \/><\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">That kind of pricing for freehold, 100% commercial shophouses in a well-established city-fringe enclave is almost unheard of. With comparable assets in similar districts often transacting above S$11 to S$13 million, these two stand out as rare opportunities in today&#8217;s market.<\/span><\/p>\r\n\r\n\r\n\r\n<h3 id=\"h-fully-commercial-zoning-no-absd-ssd-or-restrictions\" class=\"wp-block-heading\"><b>Fully commercial zoning \u2013 No ABSD, SSD, or restrictions<\/b><\/h3>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">One of the most defining features of these shophouses is their 100% commercial status. Unlike many other properties in the area that are zoned mixed-use or residential with commercial space at the ground floor, both 39 and 93 East Coast Road are entirely commercial.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">This unlocks several critical advantages for buyers.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Firstly, investors are exempt from Additional Buyer\u2019s Stamp Duty (ABSD) and Seller\u2019s Stamp Duty (SSD) \u2013 a major cost saving compared to residential or mixed-use purchases. Secondly, because they are commercial, foreigners can purchase them directly without needing approval from the Land Dealings Approval Unit (LDAU). That\u2019s a major entry barrier removed, particularly for international buyers seeking a foothold in Singapore\u2019s tightly regulated real estate market.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">And unlike strata-titled units, where buyers only own a portion of a building, these are land-title assets, giving you ownership of the entire land and structure \u2013 a format that\u2019s becoming increasingly rare in Singapore\u2019s property landscape.<\/span><\/p>\r\n\r\n\r\n\r\n<h3 id=\"h-separate-entrances-a-huge-leasing-advantage\" class=\"wp-block-heading\"><b>Separate entrances \u2013 a huge leasing advantage<\/b><\/h3>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"3000\" height=\"4000\" class=\"wp-image-88528\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-staircase.jpg\" alt=\"\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-staircase.jpg 3000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-staircase-1152x1536.jpg 1152w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-staircase-1536x2048.jpg 1536w\" sizes=\"(max-width: 3000px) 100vw, 3000px\" \/><\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">The architectural layout of both shophouses also works to your advantage. Each floor has its own independent front entrance, allowing tenants to operate separately and with autonomy. That means two businesses can function under the same roof without interfering with each other\u2019s operations, customer flow, or branding.<\/span><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"3000\" height=\"4000\" class=\"wp-image-88536\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-restaurant-1.jpg\" alt=\"\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-restaurant-1.jpg 3000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-restaurant-1-1152x1536.jpg 1152w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-restaurant-1-1536x2048.jpg 1536w\" sizes=\"(max-width: 3000px) 100vw, 3000px\" \/><\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">In older shophouses with a shared internal staircase, tenant friction can become an issue \u2013 especially when access control, cleanliness, or differing operating hours come into play. But with separate entrances, those pain points are eliminated.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"4000\" height=\"2252\" class=\"wp-image-88522\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-studio.jpg\" alt=\"\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-studio.jpg 4000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-studio-1536x865.jpg 1536w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-studio-2048x1153.jpg 2048w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-studio-1200x675.jpg 1200w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-studio-544x306.jpg 544w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-studio-352x198.jpg 352w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-studio-512x288.jpg 512w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-studio-160x90.jpg 160w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-studio-256x144.jpg 256w\" sizes=\"(max-width: 4000px) 100vw, 4000px\" \/><\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">From a leasing perspective, it simplifies marketing and attracts a broader pool of tenants \u2013 from boutique F&amp;B and artisanal retailers to studios, wellness spaces, and private dining setups. This design also allows you to future-proof the asset by offering options for subdivision or repositioning, depending on market demand.<\/span><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"4000\" height=\"3000\" class=\"wp-image-88531\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-interior1.jpg\" alt=\"\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-interior1.jpg 4000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-interior1-1536x1152.jpg 1536w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-interior1-2048x1536.jpg 2048w\" sizes=\"(max-width: 4000px) 100vw, 4000px\" \/><\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">In a market where layout constraints can significantly affect rentability, these shophouses offer a strategic design advantage that translates into reduced vacancy risk and better lease terms.<\/span><\/p>\r\n\r\n\r\n\r\n<h3 id=\"h-built-in-flexibility-and-stable-tenancy\" class=\"wp-block-heading\"><b>Built-in flexibility and stable tenancy<\/b><\/h3>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"3000\" height=\"4000\" class=\"wp-image-88534\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-cheese-wine-restaurant.jpg\" alt=\"\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-cheese-wine-restaurant.jpg 3000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-cheese-wine-restaurant-1152x1536.jpg 1152w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-cheese-wine-restaurant-1536x2048.jpg 1536w\" sizes=\"(max-width: 3000px) 100vw, 3000px\" \/><\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">With independent entrances for each floor, multiple tenants can operate independently \u2013 creating flexibility in leasing strategy, tenant mix, and even future subdivision. This adds to the asset\u2019s long-term resilience, allowing for repositioning should you decide to refresh the tenancy mix later.<\/span><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"4000\" height=\"3000\" class=\"wp-image-88524\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-bbq1.jpg\" alt=\"\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-bbq1.jpg 4000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-bbq1-1536x1152.jpg 1536w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-bbq1-2048x1536.jpg 2048w\" sizes=\"(max-width: 4000px) 100vw, 4000px\" \/><\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Currently, each unit is fully leased to F&amp;B operators with long-term leases stretching into 2027 and 2028. That means you get predictable rental income from day one, with no immediate vacancy or leasing downtime.\u00a0<\/span><\/p>\r\n\r\n\r\n\r\n<figure class=\"wp-block-image\"><img decoding=\"async\" width=\"4000\" height=\"2252\" class=\"wp-image-88523\" src=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-store.jpg\" alt=\"\" srcset=\"https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-store.jpg 4000w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-store-1536x865.jpg 1536w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-store-2048x1153.jpg 2048w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-store-1200x675.jpg 1200w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-store-544x306.jpg 544w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-store-352x198.jpg 352w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-store-512x288.jpg 512w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-store-160x90.jpg 160w, https:\/\/www.99.co\/singapore\/insider\/wp-content\/uploads\/2025\/08\/aaron-wan-39-93-east-coast-road-shophouses-for-sale-baking-store-256x144.jpg 256w\" sizes=\"(max-width: 4000px) 100vw, 4000px\" \/><\/figure>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">This also reduces operational risk \u2013 your income stream is secure, and you\u2019re not taking on any speculative leasing at the point of acquisition.<\/span><\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-prime-east-coast-road-where-culture-meets-commercial-demand\" class=\"wp-block-heading\"><b>Prime East Coast Road \u2013 where culture meets commercial demand<\/b><\/h2>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Location is everything \u2013 and these two shophouses enjoy one of the most desirable addresses in District 15, right along the central stretch of East Coast Road. This isn\u2019t the quiet tail end of the district near Still Road. Instead, you\u2019re in the thick of the action \u2013 nestled between i12 Katong, Katong Square, and Roxy Square. These are well-known landmarks that draw constant foot traffic from both locals and tourists.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">What makes this area so sought-after is its unique blend of heritage charm and modern vibrancy. The Katong district has built a reputation for its colourful Peranakan architecture, rich cultural roots, and thriving F&amp;B scene. Shophouses in this stretch enjoy natural footfall throughout the week, not just during weekends or tourist seasons. That consistency is crucial for sustaining strong F&amp;B tenancies and ensuring stable rental performance.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">At the same time, infrastructure continues to improve. The Marine Parade MRT station, part of the Thomson-East Coast Line, is just a short walk away and will offer residents and patrons seamless access to the CBD, Orchard, and other key nodes. Add to that proximity to Changi Airport via East Coast Parkway (ECP), and you\u2019ve got a highly accessible spot for both local and international businesses.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Surrounded by lifestyle offerings, strong residential catchments, and excellent connectivity, East Coast Road isn\u2019t just a good location \u2013 it\u2019s a destination. That\u2019s why shophouses here continue to perform well over time and have historically shown resilient capital appreciation even through market cycles.<\/span><\/p>\r\n<p><iframe loading=\"lazy\" style=\"border: none; width: 350px !important; box-shadow: 0px 2px 12px rgb(11 17 52 \/ 15%); border-radius: 16px;\" src=\"https:\/\/www.99.co\/property-value-widget?contentSource=insider-blog&amp;contentId=aaron-wan-39-93-east-coast-road-shophouses-for-sale\" width=\"350\" height=\"370\" scrolling=\"no\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\">\ufeff<\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><span data-mce-type=\"bookmark\" style=\"display: inline-block; width: 0px; overflow: hidden; line-height: 0;\" class=\"mce_SELRES_start\"><\/span><\/span><\/iframe><\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-singapore-s-shophouse-market-strong-fundamentals-and-promising-returns\" class=\"wp-block-heading\"><b>Singapore\u2019s shophouse market: Strong fundamentals and promising returns<\/b><\/h2>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Even in a more subdued market environment, the Singapore shophouse segment continues to demonstrate resilience \u2013 and in many ways, outperform other sectors. According to market data from Q1 2025, freehold shophouses accounted for 90% of all transactions. This suggests that long-term investors remain firmly confident in this asset class, prioritising the permanence and prestige of freehold ownership, especially when paired with the scarcity of land supply in Singapore.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">In fringe districts like Katong, rental performance has also proven remarkably steady. Despite broader economic caution, F&amp;B spaces in Katong continued to command rents of between S$8 to S$10 psf\/month, in line with their five-year average. This speaks to the strength of tenant demand in the area \u2013 driven not just by local residents, but also the consistent stream of foot traffic from shoppers, diners, and heritage tourists. Tenants know the location works, and they\u2019re willing to pay for it. For shophouse owners, this offers both income stability and a high likelihood of renewal.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">When you compare this with other central shophouse districts, such as Chinatown, Amoy Street, or Tanjong Pagar, you\u2019ll quickly see how attractive East Coast Road is from a value standpoint. In those central locations, shophouses are now transacting at S$7,500 psf and above, often pricing out many buyers. Yet in East Coast, you\u2019re gaining access to a similar affluent, high-density catchment \u2013 but with lower entry prices, more accessible rents for tenants, and a better yield spread for you as the landlord. The result is a property that works for both parties \u2013 you\u2019re giving tenants a viable operating model, while locking in consistent returns and long-term appreciation.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Zooming out, the outlook for Singapore\u2019s shophouse market remains positive. Analysts forecast a<\/span><a href=\"https:\/\/www.cbre.com\/insights\/reports\/asia-pacific-real-estate-market-outlook-2025?utm_source=chatgpt.com\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><span style=\"font-weight: 400;\"> 5% to 10% increase in commercial real estate transactions in 2025<\/span><\/a><span style=\"font-weight: 400;\">, fuelled by expected interest rate cuts, Singapore\u2019s safe haven status, and the return of tourist footfall. Shophouses \u2013 particularly in lifestyle-centric areas like East Coast \u2013 stand to benefit the most from this uptrend. With heritage value, limited supply, and growing lifestyle appeal, these assets are well-positioned to outperform.<\/span><\/p>\r\n\r\n\r\n\r\n<h2 id=\"h-aaron-wan\" class=\"wp-block-heading\"><a href=\"https:\/\/www.99.co\/singapore\/agents\/R051812G-aaron-wan\" target=\"_blank\" rel=\"noreferrer noopener\"><b>Aaron Wan<\/b><\/a><\/h2>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">A seasoned real estate advisor and investor, Aaron has owned many shophouses over the years and continues to hold a handful in his portfolio today. His track record includes identifying high-potential units well before they hit the radar of most investors, and his in-depth knowledge of the conservation shophouse market has earned him recognition across multiple media platforms.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">So when someone with his calibre gives his stamp of approval, it\u2019s worth paying attention.<\/span><\/p>\r\n\r\n\r\n\r\n<p><span style=\"font-weight: 400;\">Ready to explore these opportunities? Contact Aaron Wan at +65 8488 6648<\/span><\/p>\r\n","protected":false},"excerpt":{"rendered":"<p>If you\u2019ve been waiting for the right moment to enter the shophouse market, this is it. Two very rare commercial shophouses at 39 and 93 East Coast Road are now on the market \u2013 together asking for under S$20 million. In today\u2019s competitive landscape, that\u2019s practically unheard of. Introducing the two shophouses: 39 and 93&hellip;<\/p>\n","protected":false},"author":141,"featured_media":88535,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","_lmt_disableupdate":"no","_lmt_disable":"no","_genesis_hide_title":false,"_genesis_hide_breadcrumbs":false,"_genesis_hide_singular_image":false,"_genesis_hide_footer_widgets":false,"_genesis_custom_body_class":"","_genesis_custom_post_class":"","_genesis_layout":"","footnotes":""},"categories":[53982,53653,57131],"tags":[54789,59520,54791,54792,53680],"persona":[57128],"class_list":{"2":"type-post","16":"entry","17":"has-post-thumbnail"},"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v25.7.1 (Yoast SEO v25.7) - 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