Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
Data put together on EdgeProp Research study presents that the most recent commercial deal at 161 Bukit Merah Central was the profit of a 1,582 sq ft shophouse that fetched $1.5 million ($948 psf) in March 2021.
A two-storey HDB shophouse near Bukit Merah Central is going to be set up for public auction by SRI on November 27. Based on its floor area of 1,582 sq ft, the guide cost of the shophouse is $2.55 million or $1,612 psf.
The real estate has obtained a number of queries from potential parties, mentions Liew. “These are normally financiers who are attracted to the property’s area in the main area of Bukit Merah,” he includes.
The shophouse is in just walking distance of the Bukit Merah bus interchange near 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.
As HDB shophouses are deemed commercial real estate, the shophouse is going to be eligible for acquisition by foreigners. However, more purchaser’s stamp responsibility will be payable on the property’s residential segment, while the business component will be susceptible to the goods and services tax.
Aurelle of Tampines Sim Lian Group
The shophouse is completely tenanted and will be offered with its presenting occupancies. The ground level is rented to a Domino’s Pizza restaurant until 2026, while the upper level is rented to a non commercial tenant up until 2027.
The shophouse lies throughout the Bukit Merah Neighborhood Center which makes up a collection of buildings with stores and other features, offering the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is additionally a four-storey store convention hub, Rubikon, and Gateway Theater, a performing arts centre.
The building has a term of 103 years from 1980, which indicates it has a going on rent of 59 years. Its ground floor taking up 732 sq ft is zoned for business usage, while the 850 sq ft upper ground is zoned for housing use.
An owner’s sale, this is the very first time the property is going up for sell-off, according to Eric Liew, supervisor of auction sales at SRI. “The proprietor means to market the property to cash in their venture,” he says.
