Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
Information put together on EdgeProp Research study presents that the latest commercial deal at 161 Bukit Merah Central was the sale of a 1,582 sq ft shophouse that yielded $1.5 million ($948 psf) in March 2021.
As HDB shophouses are regarded business real estate, the shophouse will be qualified for purchase by immigrants. However, increased purchaser’s stamp obligation will be payable on the property’s housing part, whereas the business component is going to be subject to the goods and services tax.
The property has actually received a few enquiries from interested parties, says Liew. “These are commonly investors who are attracted to the building’s area in the central area of Bukit Merah,” he adds.
The shophouse is just within 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 Terminal is approximately a 15-minute walk away.
The shophouse is totally tenanted and are going to be marketed with its existing tenancies. The ground level is leased to a Domino’s Pizza restaurant up until 2026, whilst the upper ground is leased to a non commercial tenant until 2027.
The real estate has a period of 103 years from 1980, that indicates it has a remaining rent of 59 years. Its ground level taking up 732 sq ft is zoned for retail usage, while the 850 sq ft higher floor is saved for residential usage.
A two-storey HDB shophouse along Bukit Merah Central will be put up 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.
A proprietor’s sale, this is the very first time the real estate is going up for auction, according to Eric Liew, manager of auction sales at SRI. “The proprietor intends to offer the real estate to cash in their investment,” he says.
The shophouse lies throughout the Bukit Merah Neighborhood Centre which comprises a cluster of structures with shops and other amenities, offering 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 centre.
