HDB shophouse in Hougang for sale at $5.4 million
CBRE is marketing the sale of a HDB shophouse with living quarters at 108 Hougang Avenue 1. Located in the Hougang residential estate, the property has a prominent 20m frontage along Hougang Avenue 1, a combined gross floor area of up to 3,514 sq ft, and is fully tenanted with a supermarket and tuition centre. With the large residential and worker catchment around the area, investors have the opportunity to capitalise on the strong rental upside, value-add opportunities and capital appreciation. The guide price is $5.4 million with no additional buyer’s stamp duty imposed on the commercial portion of the property.
A unique property with plenty of potential is up for sale at 108 Hougang Avenue 1. This HDB shophouse with living quarters has a combined gross floor area of up to 3,514 sq ft, and features a prominent 20m frontage along Hougang Avenue 1. It is fully tenanted with a supermarket on the ground floor and a tuition centre on the upper floor. With the large residential and worker catchment around the area, this presents an attractive opportunity for investors.
Located in the Hougang residential estate, it is close to several bus stops and within walking distance of Kovan MRT Station. It is also accessible by major roads like the Kallang Paya Lebar Expressway and Hougang Avenue 3. As per URA’s Master Plan 2019, the shophouse is located 450m away from several new Build-To-Order (BTO) residential projects which will yield 1,439 HDB units.
CBRE’s head of Singapore capital markets, Michael Tay, notes that HDB shophouses have had a strong track record of capital appreciation and are often viewed as a good hedge against inflation. Hence, with no additional buyer’s stamp duty imposed on the commercial portion of the property and the benefits of high inflation, this presents an excellent opportunity for investors.
CDL has acquired an Upper Bukit Timah site for The Myst a residential project, taking full advantage of the area’s development and rejuvenation plans. It will provide a prestigious and convenient address for Singaporeans and investors.
The sale, which will be conducted via an expression of interest exercise will close on Thursday, May 11, at 12pm. Associate director of capital markets at CBRE Singapore, Joshua Giam, also adds that there is an opportunity to lease the ground floor to two tenants to maximise rental returns. The guide price is set at $5.4 million ($1,537 psf).