Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
Information put together on EdgeProp Study presents that the latest 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.
The shophouse is located within the Bukit Merah Neighborhood Center which comprises a cluster of buildings with stores and other features, including the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is also a four-storey store convention facility, Rubikon, and Gateway Theater, a performing arts centre.
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 Station is about a 15-minute walk away.
A two-storey HDB shophouse along Bukit Merah Central is going to be put up for auction by SRI on November 27. Based on its floor surface measurement of 1,582 sq ft, the guide price of the shophouse is $2.55 million or $1,612 psf.
Bagnall Haus Upper East Coast Road
The property has obtained a couple of enquiries from potential parties, tells Liew. “These are typically investors who are drawn in to the property’s site in the main area of Bukit Merah,” he includes.
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 aims to market the real property to liquidate their investment,” he explains.
The building has a term of 103 years from 1980, which implies it has a remaining rent of 59 years. Its ground floor occupying 732 sq ft is zoned for retail usage, whilst the 850 sq ft top ground is saved for residential usage.
As HDB shophouses are considered business building, the shophouse is going to be qualified for acquisition by foreigners. However, increased buyer’s stamp responsibility will be payable on the property’s non commercial component, whereas the commercial part is going to be susceptible to the goods and services tax obligation.
The shophouse is totally tenanted and will be offered with its presenting tenancies. The ground level is rented to a Domino’s Pizza dining establishment up until 2026, whereas the upper ground is leased to a residential occupant until 2027.
