Singapore, 15 August 2025 – ETC (宜迪产业咨询公司), as the sole marketing agent, is pleased to announce the successful sale of 247 & 249 Joo Chiat Place, a freehold corner shophouse in prime District 15 for S$8.55 million. The price reflects approximately S$2,902 per sq ft on the floor area.
The property garnered strong interest during its Expression of Interest exercise, which closed on 26 June 2025, attracting multiple competitive offers from a diverse pool of buyers such as investors and F&B operators.
Enjoying prominent dual frontage along Still Road and Joo Chiat Place, the property sits on a corner plot with a site area of 509.3 sq m (approximately 5,482 sq ft), with an estimated floor area of 273.7 sqm (approximately 2,946 sq ft), subject to final survey.
A key attribute of the property is its permanent approved use as an “eating house”, a highly coveted status in the East Coast / Joo Chiat precinct, where such approvals for shophouses will no longer be issued.
The property is currently home to the popular Eng Seng Restaurant, famous for its signature black pepper crabs that have drawn loyal patrons and long queues for decades. The restaurant will cease operations on 31 August 2025.
Ms Swee Shou Fern (徐晓芬), Head of Investment Advisory at ETC, part of Realion Group, says, “The sale underscores the enduring appeal of tightly held assets in prime locations. Eating houses, in particular, remain a resilient and sought-after investment class due to their scarcity and stable demand. The property’s strategic location — surrounded by established residential estates, schools and healthcare facilities — further strengthens its long-term value proposition.”
The property is located within an established residential enclave with multiple new upcoming residential developments like K Suites, Koon Seng House and Straits at Joo Chiat. It is also near key amenities such as Telok Kurau Secondary School, Haig Girls’ School and Parkway East Hospital. The property is well-served by public transport, with two bus stops at its doorstep and Eunos MRT Station less than 700 m away.
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