Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The real estate has a period of 103 years from 1980, which suggests it has a going on lease of 59 years. Its ground level occupying 732 sq ft is zoned for commercial use, while the 850 sq ft upper floor is alloted for housing usage.
A two-storey HDB shophouse along Bukit Merah Central is going to be set up for public auction by SRI on November 27. Based on its floor area of 1,582 sq ft, the overview price of the shophouse is $2.55 million or $1,612 psf.
As HDB shophouses are regarded commercial building, the shophouse is going to be eligible for purchase by immigrants. However, increased purchaser’s stamp duty will most likely be payable on the property’s non commercial segment, whereas the commercial component is going to be subject to the goods and services tax obligation.
The shophouse is completely tenanted and are going to be marketed with its existing tenancies. The ground level is rented out to a Domino’s Pizza bistro up until 2026, whereas the upper ground is leased to a residential occupant till 2027.
A proprietor’s sale, this is the very first time the property is going up for auction sale, according to Eric Liew, supervisor of auction sales at SRI. “The owner intends to sell the real property to liquidate their assets,” he says.
The real estate has received a couple of queries from potential parties, reveals Liew. “These are commonly capitalists who are attracted to the property’s area in the main area of Bukit Merah,” he adds.
Data compiled on EdgeProp Research study presents that the most recent business deal 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 in just 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 Station is about a 15-minute walk away.
The shophouse stands throughout the Bukit Merah Town Center which makes up a collection of buildings with shops and other facilities, including the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is also a four-storey boutique convention facility, Rubikon, and Gateway Theater, a performing arts centre.
