Two HDB shophouses, located in Toa Payoh and Kovan, are being offered for sale at $5.5 million and $5.3 million respectively.
The two-storey shophouse at 178 Toa Payoh Central has a total strata area of 1,345 sq ft, subdivided into two levels: 635 sq ft on the first floor, which is approved for “Commercial” use; and 710 sq ft on the second floor, which is approved for living quarters.
The property is held on a leasehold tenure of 78 years starting Oct 1, 1992.
Strategically positioned between HDB Hub and Toa Payoh Library, the shophouse benefits from exceptionally high pedestrian traffic, according to Sakal Real Estate, which is marketing both properties.
The property is located within minutes’ walk to the Toa Payoh MRT Station on the North-South Line and the integrated bus interchange.
Meanwhile, the HDB shophouse at 210 Hougang Street 21 has a total strata area of 1,798 sq ft across two levels: 850 sq ft on the first floor, which is approved for “Commercial” use; and 947 sq ft on the second floor, which is approved for living quarters.
See also: Freehold commercial shophouse at 38 Foch Road for sale at $10 mil
The property is held on a leasehold tenure for 90 years starting April 1, 1993.
Strategically positioned near to the Kovan Food Centre, the property is also located directly across from the upcoming 586-unit Kovan Wellspring development.
The property enjoys excellent connectivity with Kovan MRT Station (North-East Line) within 150m walking distance, and the bus interchange nearby, says Sakal Real Estate.
The vendor would like to continue their business operations from the premises and would prefer to leaseback the properties post-sale. That said, the vendor is also open to sale with vacant possession as well.
"These HDB shophouses represent a compelling investment opportunity in one of Singapore's scarcest commercial property segments. With only approximately 8,500 privately-held HDB shops and shophouses remaining in Singapore, supply is limited whilst demand from investors seeking stable rental income assets remains robust,” says Steven Ming, managing director of Sakal Real Estate.
Ming adds: “The property's prime location in Toa Payoh Central and in the heart of Kovan City, coupled with its proximity to major transport nodes and established amenities, positions them exceptionally well for capital and income growth potential.”
The expression of interest exercise for both properties will close at 3pm on July 23.
Photo: Sakal Real Estate
