Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The estate has actually obtained a few queries from attracted parties, says Liew. “These are generally capitalists that are drawn in to the building’s location in the main area of Bukit Merah,” he includes.
The shophouse is totally tenanted and will be marketed with its existing tenancies. The ground level is leased to a Domino’s Pizza dining establishment till 2026, whereas the upper floor is rented to a non commercial tenant till 2027.
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 offer the property to liquidate their assets,” he mentions.
The shophouse lies within the Bukit Merah Neighborhood Centre that makes up a cluster of buildings with stores and other amenities, including 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 facility.
The property has a term of 103 years from 1980, that suggests it has a remaining lease of 59 years. Its ground level occupying 732 sq ft is zoned for business usage, whilst the 850 sq ft upper level is zoned for non commercial usage.
A two-storey HDB shophouse around Bukit Merah Central is going to be set up for public auction by SRI on November 27. Based upon its floor measurement of 1,582 sq ft, the guide price of the shophouse is $2.55 million or $1,612 psf.
As HDB shophouses are regarded commercial real estate, the shophouse will be qualified for purchase by foreigners. However, increased buyer’s stamp responsibility will most likely be payable on the property’s housing component, whereas the business part will be susceptible to the goods and services tax obligation.
Information compiled on EdgeProp Research shows that the latest business transaction 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 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 about a 15-minute walk away.
