ETC has announced the sale of a prime freehold corner shophouse located at 247 & 249 Joo Chiat Place in District 15. The property, currently home to the renowned Eng Seng Restaurant, is being offered through an Expression of Interest exercise, closing on 26 June 2025. This unique opportunity is highlighted by its permanent planning approval for “eating house” use, a rare asset in the East Coast/Joo Chiat area.
The shophouse boasts a land area of 509.3 sq m and a floor area of 273.7 sq m, with a guide price of $6.2m (S$8.5m). This translates to $1,130 (S$1,550) per sq ft on the land area and $2,100 (S$2,885) per sq ft on the floor area. The property is open to both local and foreign buyers and is exempt from Additional Buyer’s Stamp Duty and Goods & Services Tax.
Swee Shou Fern, Head of Investment Advisory at ETC, emphasised the property’s appeal: “Freehold eating houses are extremely tightly held and rarely available for sale, especially those with permanent F&B use. This is a unique opportunity for F&B operators seeking a strategic foothold, or for investors looking for an income-generating asset with long-term capital upside.”
The property’s strategic location offers excellent visibility and proximity to residential developments and amenities, including schools and hospitals. Its accessibility is further enhanced by nearby bus stops and Eunos MRT Station.
With the scarcity of such assets and the enduring appeal of District 15, this shophouse presents a compelling investment opportunity for those looking to capitalise on its commercial potential.
