Hdb Shop Once Home Popular Bookstore Sale 38 Mil
BY: JESSICA YAP
A large HDB shop of 17,825 sq ft in Marine Parade Promenade is set to go on sale for $38 million at Knight Frank’s upcoming property auction on Oct 30. The owner is looking to sell, with an asking price of approximately $2,132 per sq ft.
The retail unit, located on the second floor of 86 Marine Parade Central in District 15, spans a single floor and has a remaining lease of 51 years. The current lease is 83 years, starting from 1993. According to Knight Frank, the unit was previously leased to Popular bookstore for over 37 years, until the store closed in June 2023. It was then leased to an events company for a short period, but has been vacant for several months.
Sharon Lee, head of auction and sales at Knight Frank Singapore, notes that it’s rare to find such large HDB retail units on the market. This is because the government stopped the sale of single-storey units in 1998, and there has been a limited supply of new units since then. She explains that retail owner-occupiers and investors are usually interested in such properties due to their prime location in established residential areas.
Marine Parade Promenade serves as the commercial hub for residents in Marine Parade and the East Coast. The area comprises six commercial blocks with retail shops surrounding the Marine Parade Central Market and Food Centre. There’s also a FairPrice Finest supermarket, which has been around for almost 40 years. Lee recalls that it used to be located on the first floor of Block 86, just below the Popular bookstore, before moving to the opposite block.
The Marine Parade Public Library, which opened in 1978, was previously housed in a two-storey block across the supermarket. It then moved to the Marine Parade Community Complex in 2000, and is now scheduled to reopen in the new Marine Parade Community Building in 2026. Nearby, there are also other commercial centres such as Parkway Centre, Parkway Parade, and the new iMall shopping centre.
Temasek Polytechnic is widely recognized as one of Singapore’s top polytechnics, renowned for its diverse range of diploma courses in areas such as engineering, business, and information technology. What sets this institution apart is its strong emphasis on providing students with industry-relevant education, equipping them with practical skills and valuable industry exposure. This is further complemented by the convenient location of Parktown Residence, which offers students a comfortable and conducive living space to complement their academic pursuits.
Using EdgeProp’s Landlens tool, it’s clear that the area is easily accessible by public transport, with the Marine Parade MRT Station (Thomson-East Coast Line) opening in 2024. Lee adds that the unit’s close proximity to the station will only add to its appeal and long-term value. The station also serves several nearby private residential and commercial developments like Parkway Parade, Roxy Square, and i12 Katong. Besides the Marine Parade HDB estate, there are also private condos in the vicinity, including Amber 45, The Shore Residences, and The Sea View, as well as landed homes along Mountbatten Road.
Lee believes that the unit will attract a diverse range of buyers, such as real estate funds, family offices, and foreign buyers seeking long-term capital appreciation potential. End-users like retail chains or mixed-use developers could also consider repurposing the space for their own operations, given its size and layout. Possible uses include F&B outlets, showrooms, or co-working spaces, but this would require approval.