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Four retail shops located in key regions across Singapore have been launched for sale at a guide price of between $3 million to $4.6 million each, announced marketing agent Knight Frank Singapore on Monday (7 Jan).
Two are situated within mature HDB estates, the third is a three-storey freehold shophouse at Havelock Road, while the fourth is a strata retail shop at Parklane Shopping Mall.
The first property being offered for sale is a HDB shop facing the main road of Jalan Bukit Merah. It consists of two adjacent shops with retail space on the ground floor and living quarters on the second level. Each premises measures about 1,507 sq ft, with the retail space currently occupied by a childcare centre. It has a guide price of between $3 million to $3.2 million.
The other HDB shop is located in Telok Blangah Drive close to Telok Blangah MRT station. It also comprises two adjoining shops with retail space on the ground level and living quarters on the upper level measuring 1,518 sq ft and 1,711 sq ft respectively. The commercial space was previously leased to a financial institution and it still contains a bank vault. The property has a guide price of $3 million to $3.1 million.
Meanwhile, the only private shophouse put up for sale is a three-storey freehold property in Havelock Road that is situated along a stretch of restaurants including a popular Teochew porridge stall. Aside from having sufficient parking space along the roadside, the Beo Crescent multi-storey carpark is nearby as well. The shophouse stands on a 1,574 sq ft plot and has a gross floor area of around 3,207 sq ft. It has a guide price of $4.6 million to $4.8 million.
Finally, the last one is a strata shop at Parklane Shopping Mall. Apart from being a short walk to Bencoolen MRT station, it is close to popular hangouts like POMO and The Cathay, as well as the School of The Arts (SOTA). Surrounded by commercial buildings and offices, the 2,002 sq ft shop is presently occupied by fast food chain McDonald’s. Its guide price ranges from $4.5 million to $4.6 million.
“As all four shops are situated in good locations with high visibility, they will appeal to investors looking for recurring income, as well as to owners for their own occupation,” said Mary Sai, executive director for investment and capital markets at Knight Frank Singapore.
The aforementioned properties can be purchased individually. Only the strata shop at Parklane Shopping Mall is being offered through an expression of interest (EOI) exercise, while the rest are being sold via public tender.
The public tender and EOI exercises for all retail shops will close on 19 February.
Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories, email romesh@propertyguru.com.sg
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Freehold shophouse, 4 HDB shops put up for sale