Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The shophouse is totally tenanted and will be sold with its existing tenancies. The ground floor is leased to a Domino’s Pizza dining establishment until 2026, while the top floor is leased to a non commercial renter until 2027.
The shophouse rises inside the Bukit Merah Town Center that comprises a collection of buildings with stores and other facilities, including the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is additionally a four-storey store convention centre, Rubikon, and Gateway Theater, a performing arts centre.
Lakegarden Residences Singapore
As HDB shophouses are deemed commercial building, the shophouse is going to be qualified for acquisition by foreigners. However, increased purchaser’s stamp duty will be payable on the property’s residential component, while the business component will be susceptible to the goods and services tax.
An owner’s sale, this is the first time the real estate is going up for sell-off, according to Eric Liew, manager of auction sales at SRI. “The proprietor aims to market the real property to liquidate their venture,” he says.
The shophouse is within walking range of the Bukit Merah bus interchange near Bukit Merah Central, the Gan Eng Seng Primary School and Bukit Merah Secondary School. The Redhill MRT Stop is around a 15-minute walk away.
A two-storey HDB shophouse along Bukit Merah Central is going to be set up for auction by SRI on November 27. Based upon its floor surface measurement of 1,582 sq ft, the guide price of the shophouse is $2.55 million or $1,612 psf.
Information gathered on EdgeProp Research study presents that the most recent business deal at 161 Bukit Merah Central was the profit of a 1,582 sq ft shophouse that obtained $1.5 million ($948 psf) in March 2021.
The real estate has actually obtained a number of enquiries from interested parties, reveals Liew. “These are typically investors who are drawn in to the building’s site in the main area of Bukit Merah,” he includes.
The real estate has a term of 103 years from 1980, which suggests it has a remaining contract of 59 years. Its ground floor taking up 732 sq ft is zoned for retail use, while the 850 sq ft upper ground is saved for housing usage.
