Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The property has gotten a couple of queries from interested parties, mentions Liew. “These are commonly capitalists who are attracted to the property’s location in the central area of Bukit Merah,” he adds.
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 owner aims to sell the real property to sell off their assets,” he explains.
As HDB shophouses are regarded business real estate, the shophouse is going to be qualified for purchase by foreigners. However, additional purchaser’s stamp responsibility will be payable on the property’s residential segment, while the commercial part will be susceptible to the goods and services tax.
The Arcady @ Boon Keng showflat location
Data compiled 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 fetched $1.5 million ($948 psf) in March 2021.
A two-storey HDB shophouse around Bukit Merah Central will be put up for auction by SRI on November 27. Based on its floor surface measurement of 1,582 sq ft, the overview cost of the shophouse is $2.55 million or $1,612 psf.
The shophouse stands inside the Bukit Merah Neighborhood Center which makes up a collection of structures with stores and other features, featuring the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is additionally a four-storey shop convention hub, Rubikon, and Gateway Theatre, a performing arts center.
The building has a tenure of 103 years from 1980, which means it has a standing lease of 59 years. Its ground floor occupying 732 sq ft is zoned for business use, while the 850 sq ft higher ground is zoned for residence usage.
The shophouse is just within walking range 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 around a 15-minute walk away.
The shophouse is totally tenanted and are going to be offered with its existing tenancies. The ground level is rented out to a Domino’s Pizza restaurant till 2026, whereas the upper floor is leased to a non commercial occupant until 2027.
