Properties Sale Hdb Shophouse Toa Payoh Central Ground Floor Commercial Unit Kalidasa Avenue
HDB shophouse on Upper Thomson Road for sale at $2.3 mil
A 78-year leasehold HDB shophouse located at Block 177 Toa Payoh Central is now available for sale through an expression of interest (EOI) exercise. The property has a guide price of $5.88 million and comprises of a ground-floor commercial unit covering 635 sq ft and a residential unit on the upper floor measuring around 710 sq ft. With around 46 years left on its lease, the shophouse with a corner unit and a double frontage of 8.3m provides opportunities for maximizing rental income through further subdivision or conversion of units, subject to relevant approvals from the authorities.
The shophouse is marketed by Brilliance Capital, and founder and executive director, Sammi Lim, mentions that it offers flexibility for potential buyers to either continue with the existing tenancy on the ground floor or lease out the upper level, providing an immediate source of income for investors looking for recurring returns. Centrally located, the property is surrounded by HDB housing estates and is within a few minutes’ walk to the HDB Hub, Toa Payoh MRT Station, and the Toa Payoh Bus Interchange. It also has sheltered access to the MRT station from the HDB block, making it highly accessible.
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The EOI exercise for the property at 177 Toa Payoh Central will close on 24 October 2019 at 3pm. The property is suitable for foreign buyers and companies as HDB shophouses are considered commercial properties.
Another commercial property currently up for sale is a ground-floor unit at a two-storey shophouse situated at 21 Kalidasa Avenue. It has also been put up for sale through an EOI exercise with a guide price of $3.9 million.
Located within the teacher’s housing estate, this strata-titled, 999-year leasehold commercial unit has a land area of 1,625 sq ft and is zoned for “residential with commercial at first storey” use. Currently being leased to a pet shop, the property has a total floor area of 1,625 sq ft.
According to the commercial caveats lodged with URA, the property was last sold for $2.13 million in April 2018, or $1,310 psf on strata area. The EOI exercise for 21 Kalidasa Avenue will close on 16 October 2019 at noon. The property is being marketed exclusively by PropNex Shophouse Elites, which is led by Richard Tan and Wilkie Tay.
Two HDB shophouses have hit the market – one in Toa Payoh and one in Ang Mo Kio – for a combined asking price of $51 million.
The shophouse at Block 162/163 Toa Payoh Lorong 1 has a guide price of $28 million, while the one at Block 406/407 Ang Mo Kio Avenue 10 has an indicative price of $23 million.
The Toa Payoh property has two identical three-storey shophouses with identical commercial and residential units. Each unit has a lease tenure of 84 years, with around 65 years left.
The guide price for both shophouses works out to a land rate of $1,167 per square foot per plot ratio (psf ppr) for the commercial use and $1,226 psf ppr for the residential component, subject to confirmation of the technical issues by the authorities.
The shophouse at Ang Mo Kio has a four-storey shophouse with six commercial units on the first level and five two-bedder apartments on the upper floors.
The property has a 78-year leasehold tenure, with around 56 years left.
With a total strata area of 13,313 sq ft, the guide price for the four-storey shophouse translates to $1,722 psf ppr for residential use and $1,658 psf ppr for commercial use, subject to confirmation of the technical issues by the authorities.
Located within an established HDB housing estate, the properties have a prominent frontage, says Jeremy Lake, Managing Director of Capital Markets at Edmund Tie & Company.
“Investors will be able to enjoy immediate returns as both shophouses come with a significant amount of rental income from the commercial and residential components,” adds Lake.
Located within an established HDB housing estate, the properties have a prominent frontage, says Jeremy Lake, Managing Director of Capital Markets at Edmund Tie & Company.
“Investors will be able to enjoy immediate returns as both shophouses come with a significant amount of rental income from the commercial and residential components,” adds Lake.
The shophouses are easily accessible by public transport, with the Toa Payoh shophouses being less than a five-minutes’ walk to Toa Payoh MRT Station and Bus Interchange. Meanwhile, the Ang Mo Kio shophouse is a short walk to Ang Mo Kio MRT Station.
Coworking spaces are also available in the vicinity at Block 177 Toa Payoh Central and 53A/53B Ang Mo Kio Avenue 3, which are suitable for start-ups, says Edmund Tie & Company.
The EOI exercise for both shophouses will close on Nov 5 at 3pm.
An HDB shophouse at Block 50 Commonwealth Drive has been put up for sale through an expression of interest (EOI) exercise with a guide price of $10.5 million. The shophouse comprises a ground-floor commercial unit occupying about 990 sq ft and a residential unit on the upper floor measuring about 1,260 sq ft.
Located at the intersection of Commonwealth Drive and Commonwealth Lane, the property has a 99-year lease term starting from Oct 1, 1965. It has a remaining lease of 44 years.
The shophouse is fully leased out to a provision shop, a maid agency and a residential tenant. The ground-floor tenant is on a three-year lease with monthly rental amounting to $4,800. The maid agency is also on a three-year lease with monthly rental of $4,400. The residential tenant is on a two-year lease with monthly rental of $1,800. The existing leases have a clause that the tenants are required to exercise a one-year extension of the lease from Oct 1, 2021.
The solicitors for the shophouse are Gurbani & Co, with the marketing agent being Edmund Tie & Company.
The closing date for the EOI exercise is Nov 7 at 3pm.
HDB shophouses are commercially zoned properties and foreigners and companies can buy them. The sale of an HDB shophouse is also not subject to the additional buyer’s stamp duty or seller’s stamp duty.