Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
As HDB shophouses are regarded business building, the shophouse is going to be eligible for purchase by immigrants. However, increased buyer’s stamp obligation will most likely be payable on the property’s non commercial segment, whereas the business component will be subject to the goods and services taxation.
Data gathered on EdgeProp Study shows that the latest commercial transaction at 161 Bukit Merah Central was the purchase of a 1,582 sq ft shophouse that obtained $1.5 million ($948 psf) in March 2021.
The shophouse is fully tenanted and are going to be marketed with its presenting tenancies. The ground floor is rented to a Domino’s Pizza dining establishment till 2026, whilst the upper floor is leased to a residential tenant up until 2027.
The shophouse is located within the Bukit Merah Town Center which makes up a cluster of structures with stores and other services, offering the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is additionally a four-storey shop convention facility, Rubikon, and Gateway Theater, a performing arts centre.
The estate has gotten a couple of queries from attracted parties, reveals Liew. “These are usually financiers that are attracted to the building’s location in the central 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 about a 15-minute walk away.
The Hill @ One North Kingsford Development Pte Ltd
The building has a period of 103 years from 1980, which means it has a standing lease of 59 years. Its ground level taking up 732 sq ft is zoned for business use, whilst the 850 sq ft upper ground is saved for residence usage.
A proprietor’s sale, this is the first time the real estate is going up for auction sale, according to Eric Liew, manager of auction sales at SRI. “The owner intends to sell the property to sell off their assets,” he says.
A two-storey HDB shophouse around Bukit Merah Central will be put up for auction by SRI on November 27. Based upon its floor measurement of 1,582 sq ft, the overview cost of the shophouse is $2.55 million or $1,612 psf.
