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EON Shenton Review

EON Shenton Review
Mixed-Use Commercial & Residential Review — District 02

EON Shenton

A Tanjong Pagar-fringe strata tower blending offices, retail and residences within two MRT lines.

SGCPI Research Desk Updated August 2026 70 Shenton Way, Singapore 079118 99-YR LEASEHOLD FROM 2011

Street-level view of EON Shenton, 70 Shenton Way. Imagery: Google Street View (user-contributed imagery), accessed August 2026.

Project Overview

Building NameEON Shenton
Address70 Shenton Way, Singapore 079118
DistrictDistrict 02 — Downtown Core / Tanjong Pagar
Tenure99-year leasehold from 6 October 2011
Zoning / UseMixed-use — strata office, retail and residential
Built FormSingle 31-storey tower, 132 strata units
Land Area / GFA≈1,759 sqm land / ≈20,360 sqm GFA
Completion Year2017
Nearest MRTTanjong Pagar (EW15), Shenton Way (TE19)
Key Road AccessAyer Rajah Expressway (AYE), Marina Coastal Expressway (MCE)
Transacted PSF Range≈S$2,000 – S$3,000 psf (commercial strata)
Sale Price Range≈S$1.35M – S$3.5M (commercial units)
Asking Rent Range≈S$5.50 – S$9.50 psf/month
Occupier BaseSmall professional firms, consultancies, boutique F&B/retail; no en-bloc history to date

Location & Connectivity

EON Shenton sits along Shenton Way at the southern fringe of the Downtown Core, within the Tanjong Pagar precinct that has anchored Singapore’s financial district since the 1950s. The immediate surrounds mix established office towers, newer mixed-use redevelopments and heritage shophouse clusters, giving the address a settled, low-vacancy character rather than the churn typical of newer reclamation districts.

Connectivity is a genuine strength: Tanjong Pagar MRT (EW15) on the East-West Line and the newer Shenton Way MRT (TE19) on the Thomson-East Coast Line are both within a short walk, giving occupiers and residents two-line access without an interchange transfer. Motorists reach the Ayer Rajah Expressway and Marina Coastal Expressway within minutes, useful for cross-island deliveries or client visits.

Day-to-day amenities are dense for a CBD-fringe address — International Plaza, 100 AM and Icon Village provide retail and F&B options, while FairPrice Finest, Little Farms and Don Don Donki cover grocery needs within walking distance, reducing the “CBD dead zone after 7pm” problem that affects some purely commercial stretches.

Location of EON Shenton. Map data: Google Maps, accessed August 2026.

Building & Facilities

The development comprises a single 31-storey tower completed in 2017, holding 132 strata-titled units across office, retail and residential use. Lower and podium floors are given over to commercial lots, with residential units occupying upper floors — a layering that is common in Singapore’s newer CBD mixed schemes but one that buyers should map carefully against the specific stack and unit number they are considering.

Shared recreational facilities are stacked through the tower rather than confined to a ground-floor podium: a pool and garden deck sits at level 6, a fitness deck (gym) at level 14, and a sky deck with meeting room and lounge at level 22, giving residential owner-occupiers amenity provision more typical of a pure residential condominium than a commercial building.

As a matter of due diligence, prospective buyers of any strata lot should verify the exact permitted use registered against that specific unit with URA and the building’s MCST before committing, since office, retail and residential titles within the same tower can carry different usage, financing and resale conditions.

Unit Types & Floor Plan Notes

Stock at EON Shenton spans compact strata offices intended for solo practices or back-office teams, ground-and-podium retail lots suited to F&B or lifestyle concepts, and residential apartments ranging from two-bedroom layouts up to larger three-bedroom units. The spread of sizes gives the development a broader buyer pool than a single-use tower, though it also means less homogeneity in comparable transactions.

Strata Office Suite

≈100 – 300 sqft

Compact lock-up-and-go office suites suited to solo practitioners, consultancies and back-office teams seeking a CBD-fringe registered address.

Podium Retail / Shop

≈150 – 500 sqft

Ground and podium-level shop units with street or internal frontage, historically transacted at the widest PSF spread in the scheme.

2-Bedroom Residential

≈650 – 800 sqft

Mid-floor apartments for owner-occupiers or investors targeting young professionals working within the Downtown Core.

3-Bedroom Residential

≈786 – 1,249 sqft

Larger family-sized units on higher floors, the segment with the widest sale-price range in recent transaction records.

Ceiling Height: ≈2.8m typical office units; ≈3.0m podium retail
Floor Loading: ≈2.5 kN/m² for office-use lots
Ownership Structure: Strata-titled; separate titles for office, retail and residential lots
Parking Provision: ≈1 lot per 2–3 commercial units, basement carpark
MCST Structure: Single MCST covers shared common property across all use types

Investment Case

EON Shenton’s appeal rests on a genuinely well-connected CBD-fringe address wrapped in a relatively young, mixed-use building — a combination that is harder to find at this price point in District 2. The trade-off is a small, heterogeneous strata scheme where thin transaction volumes make pricing less predictable than in larger, single-use developments.

What Works

  • Dual MRT access (EW and TEL lines) within walking distance
  • Relatively young building, TOP 2017, with condo-grade shared facilities
  • CBD-fringe address at a discount to core Raffles Place addresses
  • Mixed-use flexibility supports both owner-occupation and leasing strategies
  • Dense surrounding amenities reduce after-hours vacancy risk

What to Weigh Carefully

  • 99-year lease already running from 2011, not freehold
  • Wide PSF spread across recent transactions signals thin liquidity
  • Small 132-unit scheme limits scale and MCST bargaining power
  • Mixed-use zoning can complicate financing across use types
  • Competes for tenants against larger, more established CBD towers

Who This Suits

EON Shenton tends to suit owner-occupier professionals and small firms wanting a registered CBD-fringe address without core-CBD rents, and residential owner-occupiers who value walking-distance access to two MRT lines over a larger unit footprint elsewhere. Yield-focused investors should budget for a longer holding period and softer exit liquidity than a larger, single-use scheme would offer, given the limited transaction history and mixed-use buyer pool.

Frequently Asked Questions

What is EON Shenton zoned for and what can each unit be used for?
EON Shenton is a mixed-use development within the Downtown Core, with strata titles issued separately for office, retail and residential use. This means the permitted use is fixed at the individual unit level rather than uniformly across the building — an office-titled lot cannot simply be operated as a residence, and a retail lot carries its own conditions around trade type and operating hours. Buyers and tenants should always confirm the registered use of the specific unit against URA’s Master Plan and the unit’s title deed before signing, since misuse can trigger enforcement action, insurance complications and difficulty at resale or renewal of tenancy.
Can foreigners buy units at EON Shenton?
Foreigners face no restriction under the Residential Property Act when buying the office or retail-titled units at EON Shenton, as commercial strata property is not covered by that Act. Foreign purchases of the residential-titled apartments in the same tower are similarly permitted, since these are strata apartments within a building rather than landed housing, which does require government approval for non-citizens. In all cases, standard eligibility checks under MAS financing rules, ABSD liability and any company or trust structuring should be reviewed with a conveyancing lawyer before an Option to Purchase is exercised, since documentation requirements differ between individual and corporate buyers.
Does Additional Buyer’s Stamp Duty (ABSD) apply?
ABSD applies specifically to residential property purchases, so a residential unit at EON Shenton attracts ABSD based on the buyer’s citizenship and number of existing residential properties, while the office and retail-titled units are exempt from ABSD entirely since they fall outside the residential property regime. This distinction is one reason mixed-use towers like EON Shenton attract both residential upgraders managing ABSD exposure and commercial investors seeking to avoid it altogether. Rates and thresholds are periodically revised by the Ministry of Finance, so buyers should verify the current schedule at the point of exercising an Option rather than relying on earlier figures.
Is Seller’s Stamp Duty (SSD) a concern when reselling?
SSD applies to residential property sold within a holding period set by the government from the date of purchase, and does not apply to the office or retail-titled commercial units at EON Shenton, which have never been subject to SSD under current rules. For the residential apartments, an owner selling within the applicable holding window would incur SSD calculated on the higher of the purchase or sale price, on a sliding scale that reduces the longer the unit is held. Commercial buyers should still factor in general resale timing risk even without SSD, since thin transaction volumes can extend the marketing period regardless of duty exposure.
What Buyer’s Stamp Duty (BSD) is payable on a purchase?
BSD applies to both the residential and commercial units at EON Shenton and is calculated on a progressive scale against the higher of the purchase price or market value, with no exemption for commercial strata property. Unlike ABSD, BSD is not affected by citizenship or existing property count, so it is payable by all buyers regardless of profile. For a mixed-use purchase — for example, an investor buying both an office lot and a residential unit in the same transaction structure — BSD is assessed separately on each property based on its own transacted value, not on a combined basis.
Is GST payable when buying a unit at EON Shenton?
Residential units are not subject to GST on resale purchase, consistent with the general treatment of residential property in Singapore. Commercial units such as the office and retail lots can attract GST if the seller is a GST-registered entity making a taxable supply, which is more commonly relevant when buying directly from a developer or a GST-registered corporate vendor than in a typical resale between individuals. Buyers considering the commercial component should clarify the seller’s GST-registration status early, since GST materially affects total acquisition cost and, for GST-registered buyers, may be recoverable as input tax under normal conditions.
How does financing differ across the commercial and residential units, and does the ageing lease matter?
Banks generally apply different loan-to-value frameworks to residential versus commercial strata property, with commercial purchases typically financed at lower LTV ratios and shorter tenures than owner-occupied residential loans, and without Total Debt Servicing Ratio rules applying to the commercial portion in the same way. The 99-year lease commencing in 2011 is still comfortably within most banks’ financing comfort zone today, but as the remaining lease shortens over subsequent decades, both loan tenure and LTV available to future buyers can tighten, which is a standard consideration for any leasehold asset rather than one specific to this building.
What rental yield can an investor realistically expect?
Based on recent asking rents against typical transacted prices, gross yields across EON Shenton’s commercial units broadly fall in a mid-single-digit range, with retail and small office lots often outperforming larger units on a per-square-foot basis due to stronger demand for compact, lock-up spaces from small firms. Residential units typically yield lower gross returns than the commercial component, in line with broader Singapore CBD condo trends. Actual achieved yield varies significantly by unit size, floor and fit-out condition, so investors should stress-test any indicative figure against comparable current listings and recent completed leases rather than headline averages alone.
The building is fairly young — does age still matter for buyers?
Completed in 2017, EON Shenton is still a relatively young asset by CBD standards, which generally means lower near-term capital expenditure risk on major building systems such as lifts, façade and mechanical and electrical services compared with older 1980s and 1990s-era towers nearby. That said, buyers should still request the MCST’s maintenance and sinking fund records, any outstanding defects-liability items, and the condition of shared facilities such as the pool deck and gym before purchase, since even a younger building can carry deferred maintenance if reserves have been under-funded in its first years of operation.
What are the odds of an en-bloc sale or redevelopment?
EON Shenton has no en-bloc sale history to date, and its relatively young age since completion in 2017 makes a collective sale unlikely in the near to medium term, since redevelopment economics generally favour older buildings nearing the end of their functional life or sitting on under-utilised plot ratio. Its mixed-use composition, spanning office, retail and residential titles, also adds complexity to any future collective sale process compared with a single-use scheme, since consent thresholds and price allocation across different use types would need to be separately negotiated. Buyers should treat en-bloc upside as a low-probability, long-horizon consideration rather than part of the base investment case.
What parking and loading provisions are available?
EON Shenton provides basement carpark parking shared across its commercial and residential components, with an allocation of roughly one lot per two to three commercial units, which is typical for a compact CBD-fringe mixed-use scheme rather than generous by suburban standards. Loading and unloading for retail and F&B tenants is generally accommodated through designated bays or timed kerbside access rather than a dedicated loading dock, given the tower’s tight footprint. Prospective retail or F&B occupiers should confirm current loading arrangements and any restricted hours directly with the MCST managing agent before committing to a lease, as these details can change with council or estate management adjustments.
What are the MCST or maintenance fees, and what do they cover?
EON Shenton operates under a single Management Corporation Strata Title covering shared common property across its office, retail and residential components, with maintenance fees varying by unit type and share value rather than a flat rate. Fees typically fund lift maintenance, common area cleaning and security, upkeep of shared facilities such as the pool deck, gym and sky lounge, and contributions to the sinking fund for major long-term repairs. Because the scheme spans mixed uses, contribution formulas can be more complex than in a single-use building, so buyers should request the latest MCST budget and sinking fund statement as part of due diligence rather than relying on a listing agent’s estimate.
How liquid is the resale market for units at EON Shenton?
Resale liquidity at EON Shenton is moderate rather than deep, reflecting its status as a small, 132-unit mixed-use scheme rather than a large single-use development with frequent comparable transactions. The wide spread seen in recent transacted PSF figures across both the commercial and residential components points to a market where each sale is priced somewhat independently, based on unit condition, floor and exact use, rather than tracking a tight benchmark. Sellers should expect a longer marketing period than in larger nearby developments and should price with reference to the most comparable recent transaction by unit type, rather than an average across the whole scheme.
What types of businesses are best suited to the commercial units here?
The compact strata office suites suit solo practitioners, consultancies, boutique financial or professional-services firms and small back-office teams that value a CBD-fringe registered address without the space or cost of a full office floor elsewhere in the Downtown Core. The podium retail and shop units are better suited to F&B, personal care or lifestyle concepts that can draw on the resident population, nearby office workers and passing footfall along Shenton Way. Larger corporate occupiers requiring open-plan floorplates or naming rights are generally better served by the bigger single-use office towers nearby rather than this smaller mixed-use scheme.

This article is for general informational purposes only and does not constitute financial, investment, legal or tax advice. Figures on pricing, rental, tenure and specifications are compiled from public listings and property data sources believed to be reliable as at the date of update, and are marked with an approximation symbol (≈) where figures reflect a reasoned estimate rather than a verified exact value. Prospective purchasers and tenants should conduct independent due diligence, including verification with URA, the relevant MCST and a qualified conveyancing lawyer, before making any purchase, leasing or investment decision.

© 2026 SG Commercial Property Insights. All rights reserved.

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