UNDER THE HAMMER: Eon Shenton unit up for sale at $1.9 mil
SINGAPORE (EDGEPROP) - A 947 sq ft, two-bedroom unit at Eon Shenton, along Shenton Way in Tanjong Pagar, District 2, will be put up for auction on Sept 25. This is an owner’s sale with a guide price of $1.9 million ($2,006 psf), according to Edmund Tie, which is handling the auction.
The 23rd-floor unit has never been lived in and is in brand-new condition, says Joy Tan, head of auction and sales at Edmund Tie. The owner is looking to sell the property to diversify his property portfolio, she adds.
The unit has a double-volume ceiling in the living area, boasting a loft concept. It was first purchased in August 2012 for $1.76 million ($1,855 psf) from the developer.
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Based on rental records lodged with the URA, units of 900 to 1,000 sq ft in size at the development have fetched rentals of $3,650 to $4,500 per month.
For price trends, recent transactions, other project info, check out the EON Shenton project research page
Completed in 2017, Eon Shenton is a 99-year leasehold development comprising a mix of residential units, strata offices and shops. It is a six-minute walk to Tanjong Pagar MRT Station on the East-West Line, and is directly opposite the upcoming Prince Edward Road MRT Station on the Circle Line, which will be a two-minute walk away. The 100AM mall is five minutes away by foot.
The property is “likely to attract investors given its prime location in the heart of Tanjong Pagar”, says Tan.
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“Given that even city-fringe developments nearby have soared above $2,000 psf, $2,000 psf for a CCR [Core Central Region] development opposite an MRT station is reasonable,” she adds.
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