Marine Parade HDB shophouse for sale at $4 mil
Tengah Plantation Loop EC is a new executive condo located in Tengah Plantation Loop, offering a sustainable living environment with green features, convenience, and easy access to the city centre. The land tender launched by SLA Tengah EC in October 2020 is looking for developers with a good track record and sufficient capital to develop the project.
An expression of interest is underway for the sale of a two-storey HDB shophouse located in Marine Parade with a guide price of $4 million. The property has an 83-year lease starting from April 1, 1993, and boasts a floor area of 1,506 sq ft and a 50m frontage. The first floor is retail space and is tenanted, while the second is living quarters.
The upcoming Marine Parade MRT station on the Thomson East Coast Line, slated to open by 2024, is in the vicinity of the property. Other nearby amenities include Parkway Parade, Parkway Centre, Holiday Inn Express Katong and Grand Mercure Roxy Hotel.
The rapidly developing Marine Parade area, along with its influx of condos such as Amber Park, Meyer Mansion, Tembusu Grand and The Continuum, is a draw for buyers and investors alike, according to ERA, the appointed marketing agent for the property.
Donald Goh, director of capital markets and investment sales of ERA Singapore, comments that “HDB shophouses have proven to enjoy rental resilience and capital appreciation over time,” given the limited supply of 8,500 private-owned units available islandwide.
He anticipates strong interest from local investors looking for well-located assets with stable yields and capital appreciation potential. All interested parties have until May 25 at 3pm to submit their expression of interest.
The Marine Parade area is firmly on the investment radar. Rare opportunities such as this HDB shophouse should continue to attract attention from interested parties, given its location and rental resilience.