Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The real estate has a tenure of 103 years from 1980, which suggests it has a going on contract of 59 years. Its ground floor occupying 732 sq ft is zoned for commercial usage, whilst the 850 sq ft top floor is saved for residential use.
A two-storey HDB shophouse near Bukit Merah Central is going to be put up for public auction by SRI on November 27. Based upon its floor surface measurement of 1,582 sq ft, the guide cost of the shophouse is $2.55 million or $1,612 psf.
The shophouse is fully tenanted and will be offered with its presenting tenancies. The ground floor is rented out to a Domino’s Pizza dining establishment up until 2026, while the top ground is rented to a non commercial occupant until 2027.
A proprietor’s sale, this is the first time the property is going up for auction, according to Eric Liew, manager of auction sales at SRI. “The proprietor intends to offer the property to cash in their venture,” he mentions.
The shophouse rises inside the Bukit Merah Town Center that comprises a cluster of buildings with shops and other facilities, featuring the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is additionally a four-storey store convention facility, Rubikon, and Gateway Theatre, a performing arts center.
The estate has obtained a few queries from attracted parties, reveals Liew. “These are commonly capitalists who are drawn in to the property’s site in the central area of Bukit Merah,” he adds.
Information compiled on EdgeProp Research presents that the most recent business purchase 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.
As HDB shophouses are considered business real estate, the shophouse is going to be qualified for acquisition by immigrants. However, additional buyer’s stamp responsibility will most likely be payable on the property’s housing segment, whereas the commercial component will be subject to the goods and services tax obligation.
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.
