Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The shophouse is completely tenanted and are going to be marketed with its existing tenancies. The ground level is rented to a Domino’s Pizza dining establishment until 2026, whilst the upper floor is leased to a residential occupant till 2027.
An owner’s sale, this is the first time the real estate is going up for auction, according to Eric Liew, manager of auction sales at SRI. “The proprietor means to market the property to cash in their assets,” he mentions.
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The property has a term of 103 years from 1980, which suggests it has a remaining rent of 59 years. Its ground floor occupying 732 sq ft is zoned for retail usage, while the 850 sq ft higher level is alloted for housing use.
The estate has actually gotten a few queries from interested parties, tells Liew. “These are usually financiers who are attracted to the building’s location in the main area of Bukit Merah,” he includes.
The shophouse is within walking distance of the Bukit Merah bus interchange along 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.
Information compiled on EdgeProp Research study shows that the latest business deal at 161 Bukit Merah Central was the sale of a 1,582 sq ft shophouse that fetched $1.5 million ($948 psf) in March 2021.
As HDB shophouses are regarded business building, the shophouse will be eligible for purchase by foreigners. However, increased purchaser’s stamp responsibility will be payable on the property’s housing component, while the commercial component is going to be subject to the goods and services tax.
The shophouse stands inside the Bukit Merah Neighborhood Centre that comprises a collection of structures with stores and other facilities, offering the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is also a four-storey shop convention facility, Rubikon, and Gateway Theatre, a performing arts center.
A two-storey HDB shophouse along Bukit Merah Central will be set up for auction by SRI on November 27. Based upon its floor surface area of 1,582 sq ft, the guide price of the shophouse is $2.55 million or $1,612 psf.
