Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
Information collected on EdgeProp Research study presents that the most recent commercial deal at 161 Bukit Merah Central was the sale of a 1,582 sq ft shophouse that obtained $1.5 million ($948 psf) in March 2021.
As HDB shophouses are regarded commercial real estate, the shophouse is going to be qualified for purchase by foreigners. However, more buyer’s stamp obligation will be payable on the property’s non commercial segment, whereas the commercial part will be susceptible to the goods and services tax.
The estate has actually gotten a few enquiries from interested parties, mentions Liew. “These are typically capitalists that are attracted to the property’s area in the central area of Bukit Merah,” he adds.
The shophouse rises throughout the Bukit Merah Town Center which comprises a cluster of structures with stores and other amenities, including the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is even a four-storey shop convention hub, Rubikon, and Gateway Theater, a performing arts centre.
A two-storey HDB shophouse along Bukit Merah Central will be raised for auction by SRI on November 27. Based on its floor surface area of 1,582 sq ft, the overview price of the shophouse is $2.55 million or $1,612 psf.
The shophouse is totally tenanted and are going to be sold with its presenting occupancies. The ground floor is rented out to a Domino’s Pizza dining establishment until 2026, whereas the top ground is leased to a non commercial renter until 2027.
The building has a tenure of 103 years from 1980, which implies it has a going on contract of 59 years. Its ground floor taking up 732 sq ft is zoned for commercial usage, while the 850 sq ft upper ground is saved for residence usage.
The shophouse is in just 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 approximately a 15-minute walk away.
An owner’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 owner means to market the real property to cash in their venture,” he mentions.
