Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The shophouse is within walking range of the Bukit Merah bus interchange along 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.
As HDB shophouses are regarded business building, the shophouse will be qualified for acquisition by immigrants. However, more purchaser’s stamp responsibility will most likely be payable on the property’s residential component, whereas the commercial component is going to be subject to the goods and services taxation.
A two-storey HDB shophouse near Bukit Merah Central is going to be raised for auction by SRI on November 27. Based on its floor measurement of 1,582 sq ft, the overview price of the shophouse is $2.55 million or $1,612 psf.
Information compiled on EdgeProp Study shows that the latest commercial purchase at 161 Bukit Merah Central was the purchase of a 1,582 sq ft shophouse that obtained $1.5 million ($948 psf) in March 2021.
The shophouse is completely tenanted and are going to be offered with its existing tenancies. The ground level is rented to a Domino’s Pizza restaurant up until 2026, whereas the higher ground is rented to a residential occupant until 2027.
The shophouse is located within the Bukit Merah Town Centre which makes up a collection of buildings with stores and other facilities, offering the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is also a four-storey boutique convention facility, Rubikon, and Gateway Theatre, a performing arts facility.
The property has a term of 103 years from 1980, which suggests it has a going on contract of 59 years. Its ground level taking up 732 sq ft is zoned for retail usage, whilst the 850 sq ft top level is alloted for non commercial usage.
A proprietor’s sale, this is the first time the real estate is going up for sell-off, according to Eric Liew, supervisor of auction sales at SRI. “The proprietor means to sell the real property to liquidate their investment,” he says.
The real estate has gotten a couple of queries from attracted parties, says Liew. “These are generally investors who are drawn in to the building’s site in the main area of Bukit Merah,” he includes.
