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The property previously houses MindChamps PreSchool and was rebuilt in 2018. It is now leased to 5 Steps Academy, with a stable rental yield of between 2% and 2.5%. Image: PropNex Realty
A five-storey commercial building at 143 East Coast Road has been put up for sale via expression of interest (EOI) with a starting price of $19 million or $ 2,219 per sq ft (psf) on existing built-up area, revealed exclusive marketing agent PropNex Realty.
Located across I12 Katong, the freehold property features a full glass frontage and is prominently visible along the junction of Joo Chiat Road and East Coast Road. It occupies a 2,251 sq ft site and has a built-up area of 8,563 sq ft, which excludes the car park lots and an open terrace on the fifth floor.
“The ease of accessibility at the back lane provides an additional drop-off option for occupants and visitors to the subject property,” said the marketing agent.
The property previously houses MindChamps PreSchool and was rebuilt in 2018. It is now leased to 5 Steps Academy, with a stable rental yield of between 2% and 2.5%.
It is situated near the upcoming Marine Parade MRT and is close to various F&B establishments such as Zaffron Kitchen, Sin Hoi Sai Eating House and NineThirty by Awfully Chocolate.
“The arrival of the East precinct’s long-awaited MRT will increase human traffic to East Coast Road, further cementing the upside value of this rare commercial gem,” said PropNex Realty Associate Division Director Loyalle Chin.
Since it is zoned for “Commercial use”, foreigners can acquire the property with no Additional Buyer’s Stamp Duty payable.
The EOI exercise for 143 East Coast Road closes on 18 March.
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