Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The shophouse is just within walking distance 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 approximately a 15-minute walk away.
Data compiled on EdgeProp Research study shows that the most recent commercial purchase 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.
A proprietor’s sale, this is the very first time the real estate is going up for auction sale, according to Eric Liew, manager of auction sales at SRI. “The proprietor aims to sell the real estate to cash in their assets,” he mentions.
A two-storey HDB shophouse around Bukit Merah Central will be put up for public 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.
Arina East Residences condominium
The shophouse is fully tenanted and are going to be sold with its presenting tenancies. The ground level is subleased to a Domino’s Pizza bistro up until 2026, whereas the upper level is rented to a residential tenant until 2027.
The property has a tenure of 103 years from 1980, that implies it has a going on rent of 59 years. Its ground level taking up 732 sq ft is zoned for commercial use, while the 850 sq ft upper level is saved for housing usage.
The shophouse stands throughout the Bukit Merah Town Centre that comprises a cluster of buildings with stores and other facilities, featuring 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 centre.
The property has actually received a number of enquiries from interested parties, tells Liew. “These are normally capitalists that are attracted to the property’s location in the central area of Bukit Merah,” he includes.
As HDB shophouses are deemed business building, the shophouse will be eligible for acquisition by foreigners. However, more purchaser’s stamp duty will be payable on the property’s non commercial part, whereas the business part will be subject to the goods and services taxation.
