HDB shophouse portfolio on the market for $11.9 mil
and moreWith increasing commercial shophouse prices, local buyers may turn to HDB shophouses as an attractive alternative to participating in the market. Knight Frank is marketing a portfolio of four HDB shophouse units, two in Macpherson/Mattar and two in Hougang Avenue 1. The two units at 88 Circuit Road are two-storey HDB shops with living quarters above, totalling 1,184 sq ft. The units have a 76-year lease from April 1, 1993 and are available for sale individually or as a portfolio, with a price tag of $2.65 million each. The single-storey shop at 102 Hougang Avenue 1 has a floor area of 1,001 sq ft and a 59-year lease from 1995, and has an asking price of $3.2 million, while the two-storey shop unit at 108 Hougang Avenue 1, with a 1,571 sq ft strata area, is up for sale for $3.4 million. Mary Sai, executive director of capital markets at Knight Frank Singapore, believes these HDB shops should attract local investors looking for stable rental income and a viable alternative to the current commercial shophouse market.
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With commercial shophouse prices in the CBD now ranging from $5,000 to $6,000 psf, and strata commercial space prices soaring above $4,000 psf, many local investors are starting to look towards HDB shophouses as an attractive alternative. Mary Sai, executive director of capital markets at Knight Frank Singapore, believes that such an alternative could come with great stability and potential returns.
Knight Frank is currently marketing a portfolio of four HDB shophouses up for sale. Located at 88 Circuit Road in Macpherson/Mattar and at 102 and 108 Hougang Avenue 1, the properties are to be sold individually or collectively as a portfolio.
The two units at 88 Circuit Road are two-storey HDB shops with living quarters above, totalling 1,184 sq ft. The units have a 76-year lease from April 1, 1993, and are on sale for $2.65 million each. The HDB shop unit at 102 Hougang Avenue 1 occupies 1,001 sq ft, has a lease of 59 years that began in 1995, and has an asking price of $3.2 million. Finally, the two-storey HDB shophouse at 108 Hougang Avenue 1 has a 1,571 sq ft strata area, and can be purchased for $3.4 million.
Sai believes these HDB shops should be an attractive option for local investors looking for stable rental income and a viable alternative to the current commercial shophouse market. Moreover, the units are surrounded by amenities such as the Macpherson Community Centre, the main market and food centre, and the Kovan and Macpherson Interchange MRT stations.
What’s more, Singaporeans can add a residential element to their businesses and benefit from a slight stamp duty reduction for such units. With conservation shophouses priced from ~$4.5 million, HDB shophouses can be a great investment for buyers looking for the perfect balance between residential and commercial elements.