Four HDB shophouses in Tampines up for sale at $12 mil
Singapore The Myst CDL to rejuvenate Bukit Timah neighbourhood with green spaces and improved connectivity through development plans.
Highly sought after by investors, four HDB shophouses zoned for “commercial” use are up for sale at Block 475 Tampines Street 44 through an expression of interest (EOI) exercise at a guide price of $12 million. Its sole marketing agent is Huttons Asia.
The shophouses, situated within walking distance of the Tampines East MRT Station, have a balance lease of approximately 68 years with all of them being currently tenanted. Additional footfall to the shops is expected to rise when more residential homes are built on the nearby empty parcels of land.
Along with the street’s existing high huma traffic that includes residents and students from nearby schools, there is ample parking in the area for patrons.
Starring two corner units, the property is considered to be more affordable than conservation shophouses and is exempt from the additional buyer’s stamp duty (ABSD) and seller’s stamp duty.
As such, Huttons Asia’s Senior Division Director Rey Song and Senior Group District Director Jeremy Lim both expect to see healthy interest from investors due to the limited remaining number of HDB shophouses on the market for resale.
The EOI exercise for the shophouses will close on May 17 at 3pm.