Two Storey Hdb Shophouse Bishan Sale 368 Mil
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An expression of interest (EOI) has been launched for the sale of a two-storey HDB shophouse in Bishan, with an asking price of $3.68 million. Situated in the highly sought-after Bishan Street 11, the property boasts a land area of approximately 1,571 sq ft. The first floor houses a shop space measuring around 667 sq ft, while the second floor offers living quarters of about 904 sq ft. The appointed marketing agent, ERA Singapore, reveals that the 99-year leasehold property still has a remaining lease of about 62 years.
Currently, the ground floor shop is tenanted to a mini-mart selling sundry goods and services, while the upper floor is vacant. ERA has highlighted that the shophouse has potential for subdivision into smaller units for retail and other uses like F&B, subject to approvals. Prospective buyers may also consider converting the upper floor into non-residential spaces.
In addition, the agency points out that the retail shop enjoys high visibility along the walkway and is part of a cluster of shops and eateries that are popular among residents of the Bishan Green estate. Bishan Green is part of the Bishan East subzone, with a resident population of approximately 28,360. ERA predicts an increase in footfall to the shops in Bishan Green with the completion of the 472-unit Bishan Towers Build-To-Order project this year.
The shophouse is also conveniently located within a five-minute drive to Bishan MRT Station, which is served by the Circle and North South Lines, as well as the Bishan bus interchange.
Donald Goh, director of capital markets and investment sales at ERA Singapore, expects strong interest from both investors and end-users for this property. He notes a growing demand for mid-market sector assets, including HDB shophouses. “There are only about 8,500 units of HDB shophouses available for private ownership islandwide, with no new supply in the pipeline,” he adds.
The EOI exercise is set to close on Sept 16 at 3pm.