Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The shophouse is located inside the Bukit Merah Neighborhood Centre that 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 store convention centre, Rubikon, and Gateway Theater, a performing arts center.
The estate has actually received a number of queries from attracted parties, mentions Liew. “These are typically capitalists who are drawn in to the property’s site in the central area of Bukit Merah,” he includes.
Information gathered on EdgeProp Research presents that the latest business purchase at 161 Bukit Merah Central was the purchase of a 1,582 sq ft shophouse that yielded $1.5 million ($948 psf) in March 2021.
The shophouse is in just walking range 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 around a 15-minute walk away.
The shophouse is totally tenanted and will be offered with its existing occupancies. The ground floor is rented out to a Domino’s Pizza bistro up until 2026, whereas the upper floor is leased to a residential tenant up until 2027.
A two-storey HDB shophouse near Bukit Merah Central will be set up for public auction by SRI on November 27. Based on its floor surface area of 1,582 sq ft, the overview cost of the shophouse is $2.55 million or $1,612 psf.
A proprietor’s sale, this is the first time the property is going up for sell-off, according to Eric Liew, manager of auction sales at SRI. “The proprietor aims to sell the property to liquidate their assets,” he mentions.
The real estate has a tenure of 103 years from 1980, which means it has a remaining rent of 59 years. Its ground level taking up 732 sq ft is zoned for retail use, while the 850 sq ft upper floor is zoned for residential use.
As HDB shophouses are regarded commercial property, the shophouse will be eligible for acquisition by immigrants. However, more purchaser’s stamp duty will most likely be payable on the property’s housing component, whereas the business part is going to be subject to the goods and services tax obligation.
