Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
Information gathered on EdgeProp Research shows that the most recent business transaction at 161 Bukit Merah Central was the profit of a 1,582 sq ft shophouse that yielded $1.5 million ($948 psf) in March 2021.
The shophouse is 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 Terminal is about a 15-minute walk away.
The property has a tenure of 103 years from 1980, which indicates it has a remaining contract of 59 years. Its ground level occupying 732 sq ft is zoned for commercial usage, while the 850 sq ft upper floor is saved for non commercial use.
The shophouse is totally tenanted and will be offered with its presenting tenancies. The ground level is subleased to a Domino’s Pizza dining establishment until 2026, while the top level is leased to a residential occupant up until 2027.
Union Square Residences showflat location
The shophouse rises throughout the Bukit Merah Town Center which makes up a cluster of structures with shops and other services, offering the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is also a four-storey boutique convention facility, Rubikon, and Gateway Theater, a performing arts facility.
As HDB shophouses are regarded business property, the shophouse is going to be eligible for acquisition by immigrants. However, more buyer’s stamp obligation will be payable on the property’s non commercial segment, whereas the business element is going to be susceptible to the goods and services tax.
A proprietor’s sale, this is the first time the real estate is going up for auction sale, according to Eric Liew, supervisor of auction sales at SRI. “The owner aims to sell the real estate to cash in their venture,” he mentions.
A two-storey HDB shophouse near 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 guide price of the shophouse is $2.55 million or $1,612 psf.
The estate has actually received a number of enquiries from potential parties, reveals Liew. “These are normally investors that are drawn in to the building’s area in the main area of Bukit Merah,” he adds.
