Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
A two-storey HDB shophouse along Bukit Merah Central will be raised for auction by SRI on November 27. Based on its floor surface measurement of 1,582 sq ft, the overview price 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 auction sale, according to Eric Liew, manager of auction sales at SRI. “The proprietor intends to offer the property to liquidate their investment,” he says.
Information collected on EdgeProp Research study presents that the most recent business transaction at 161 Bukit Merah Central was the profit of a 1,582 sq ft shophouse that obtained $1.5 million ($948 psf) in March 2021.
The shophouse is totally tenanted and will be sold with its presenting tenancies. The ground level is subleased to a Domino’s Pizza bistro until 2026, whereas the top level is leased to a residential renter until 2027.
The shophouse lies inside the Bukit Merah Neighborhood Center that comprises a cluster of structures with shops and other features, featuring the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is additionally a four-storey boutique convention centre, Rubikon, and Gateway Theatre, a performing arts center.
As HDB shophouses are considered commercial property, the shophouse is going to be qualified for purchase by immigrants. However, more buyer’s stamp responsibility will be payable on the property’s residential part, while the commercial component is going to be subject to the goods and services tax obligation.
The real estate has a period of 103 years from 1980, that indicates it has a going on rent of 59 years. Its ground level occupying 732 sq ft is zoned for retail use, while the 850 sq ft higher floor is saved for residential use.
The property has gotten a number of enquiries from attracted parties, reveals Liew. “These are generally financiers that are attracted to the property’s area in the main area of Bukit Merah,” he includes.
The shophouse is 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 Station is around a 15-minute walk away.
