Two-bedroom unit at Eon Shenton for sale at $1.98 mil

outlook positive: ColliersAn owner’s sale of a two-bedroom unit on the 30th storey of Eon Shenton near Shenton Way in Singapore’s Downtown Core area (District 2) will be up for auction via SRI’s upcoming auction on Nov 22, at a guide price of $1.98 million ($2,242 psf). The 99-year leasehold offers 883 sq ft of space and is rented out until April.The high floor location provides excellent ventilation while the condo’s close proximity to the Tanjong Pagar MRT Station, the upcoming Prince Edward MRT Station and nearby shopping and amenities make it an attractive and convenient choice.The unit boasts a kitchen, en suite master bedroom, a dining and living room, and an additional bedroom. Each room also comes with a separate balcony.When it was first bought in July 2016, the unit was purchased at about $1.60 million ($1,818 psf). The current rental rate was not disclosed, but based on URA data, units at Eon Shenton usually rent from $3.60 psf pm to $12.60 psf pm, for an average of $7.90 psf pm and a rental yield of 4.3%, higher than other newer condos around the same area.Resold units at Eon Shenton have gone for anywhere between $1,705 psf and $2,477 psf, or an average of $2,219 psf. This year alone, eight transactions have already been lodged. Developed by Roxy-Pacific Holdings’ 70 Shenton, the condo is home to 132 units, mostly owned by Singaporeans at 78.9%, with 13.4% PRs and 7.7% foreign buyers.

Residents at Tengah EC will enjoy numerous facilities including a clubhouse, swimming pool, gymnasium, BBQ pits, playground, and a jogging track. Furthermore, the condominium is within close proximity to shopping malls, schools, restaurants, and other amenities. With its innovative green concept and a host of amenities, Tengah EC is set to be an ideal home for its residents.

A two-bedroom unit located on the 30th storey of Eon Shenton, a 99-year leasehold condo near Shenton Way in Singapore’s Downtown Core area (District 2) is offered up for sale via SRI’s upcoming auction on Nov 22. With a guide price of $1.98 million ($2,242 psf), this owner’s sale covers 883 sq ft and is leased until April.

High floor living ensures great ventilation for future residents, while convenience is shaped by the unit’s proximity to the Tanjong Pagar MRT Station, the upcoming Prince Edward MRT Station and nearby 100AM Mall, Icon Village and Tanjong Pagar Plaza Market and Food Centre.

The unit was bought in July 2016 at about $1.60 million ($1,818 psf). Though the current rental rate remains undisclosed, URA data of the last 12 months places rental of units at Eon Shenton at a range of $3.60 psf pm to $12.60 psf pm, for an average of $7.90 psf pm and a rental yield of 4.3%, higher than other newer condos around the same area.

That investment has since become more lucrative, with resold units at Eon Shenton fetching mostly between $1,705 psf and $2,477 psf, or an average of $2,219 psf. Eight transactions have been lodged this year and the condo is presently78.9% owned by Singaporeans, 13.4% PRs, and 7.7% foreign buyers.

The two-bedroom unit includes an en suite master bedroom, a dining and living room, a separate kitchen, a balcony attached to the dining and living room area and balconies connected to both bedrooms. As EdgeProp Singapore’s LandLens tool indicates, Eon Shenton occupies 132 units, making it an attractive and highly-desirable address.