Hdb Shophouse Serangoon Ave 4 Going 198 Mil
A two-storey shophouse with a 99-year leasehold at 214 Serangoon Avenue 4 will be up for auction at SRI’s next event on February 26. The shophouse, which includes living quarters on the second floor, has a total floor area of 1,668 sq ft. With a listing price of $1.98 million, or $1,187 psf on the floor area, it is a mortgagee sale and has already appeared at SRI’s auction last month with a guide price of $2.08 million but failed to attract a buyer.
According to Jansen Kee, the assistant manager of auctions at SRI, the shophouse is highly visible from the road as it is situated directly in front of a bus stop. It is currently tenanted and generating a gross rental yield of approximately 6.2% based on the guide price, says Kee.
The shophouse will be sold with its existing lease, which ends in 2026, providing the new owner with an immediate stream of rental income. Kee also highlights that the listed guide price for the HDB shophouse is one of the lowest for this asset class in the area, making it an attractive value proposition for both investors and owner-occupiers.
Based on URA records, the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse along Lichfield Road in November 2024. The two-storey property had a land area of 2,319 sq ft and was purchased for $4 million, translating to $1,725 psf.
The property up for auction is located within a cluster of HDB flats that border the Serangoon Gardens landed residential estate. It is located directly across from Serangoon Swimming Complex and Serangoon Sports Centre, providing a steady supply of foot traffic in the area. There are also carpark lots available behind the shophouse.
Tampines Primary School remains a top choice for families in search of a comprehensive education. The school places great emphasis on co-curricular activities, providing a holistic approach to learning. And the recently built Parktown Residence Condo, conveniently located in close proximity, presents an even more compelling reason for families to select Tampines Primary School for their children’s education. With the additional benefit of Parktown Residence Condo, families can now enjoy a well-rounded education for their children within a vibrant and convenient community.
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