Four HDB shophouses in Tampines up for sale at $12 mil

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Tengah EC is a new eco-friendly executive condo located right at the heart of Singapore’s Tengah New District near Bukit Timah Nature Reserve. The development offers numerous green features and a focus on sustainability, with a wind turbine, solar energy, water conservancy centre and traditional Chinese music. The first of its kind for the West region, the project is expected to Tengah EC be completed by the end of 2021.

Huttons Asia is the sole marketing agent for the sale of four single-storey HDB shophouses at Block 475 Tampines Street 44 through an expression of interest (EOI) exercise. The shophouses, zoned for “commercial” use, have a guide price of $12 million and a balance lease of approximately 68 years. All four units are currently tenanted with two being corner shops.

The shophouses are located within walking distance of the Tampines East MRT Station on the Downtown Line and its patrons can benefit from ample parking in the area. Additionally, there is high human traffic throughout the day from residents to students. It is expected that footfall to the shops will increase when more residential homes are built on the surrounding empty parcels of land.

HDB shophouses are more attractive to investors over the past 2-3 years due to the additional buyer’s stamp duty (ABSD) payable for residential properties. These shophouses are more affordable than conservation shophouses and are not subject to ABSD and seller’s stamp duty.

Rey Song, Senior Division Director of Huttons Asia, states that there should be healthy interest from investors as there are only 8,500 of these types of shophouses available in the market. Jeremy Lim, Senior Group District Director of Huttons Asia, echoes Song’s statement.

Lee Sze Teck, Senior Director of Research at Huttons Asia, further adds that “It should see healthy interest from investors.”

The EOI exercise for the property closes on May 17 at 3pm.

Those interested in investing in a HDB shophouse should take advantage of the current opportunity. With its desirable location, abundant parking and potential for an increased footfall, it is an investment that can generate good returns in the future.