Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The shophouse is totally tenanted and will be offered with its existing tenancies. The ground floor is rented out to a Domino’s Pizza dining establishment until 2026, whilst the upper level is rented to a non commercial occupant until 2027.
The estate has actually received a few queries from potential parties, mentions Liew. “These are usually capitalists that are drawn in to the property’s location in the central area of Bukit Merah,” he includes.
A two-storey HDB shophouse around Bukit Merah Central will be raised for public auction by SRI on November 27. Based upon its floor area of 1,582 sq ft, the guide cost of the shophouse is $2.55 million or $1,612 psf.
An owner’s sale, this is the very first time the property is going up for auction, according to Eric Liew, supervisor of auction sales at SRI. “The proprietor means to sell the real estate to sell off their assets,” he says.
As HDB shophouses are considered business real estate, the shophouse is going to be eligible for acquisition by foreigners. However, additional buyer’s stamp obligation will most likely be payable on the property’s housing component, while the business part will be susceptible to the goods and services tax obligation.
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 Station is approximately a 15-minute walk away.
The shophouse lies within the Bukit Merah Neighborhood Center which makes up a cluster of buildings with stores and other facilities, featuring the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is also a four-storey store convention facility, Rubikon, and Gateway Theatre, a performing arts facility.
Information compiled on EdgeProp Research study shows that the latest business transaction at 161 Bukit Merah Central was the purchase of a 1,582 sq ft shophouse that yielded $1.5 million ($948 psf) in March 2021.
The property has a term of 103 years from 1980, that implies it has a standing contract of 59 years. Its ground level occupying 732 sq ft is zoned for commercial usage, whilst the 850 sq ft top floor is alloted for non commercial usage.
