Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
Information gathered on EdgeProp 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.
An owner’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 owner aims to market the real property to liquidate their investment,” he mentions.
The property has a term of 103 years from 1980, which indicates it has a remaining contract of 59 years. Its ground floor taking up 732 sq ft is zoned for business use, whilst the 850 sq ft higher ground is alloted for non commercial use.
A two-storey HDB shophouse near Bukit Merah Central is going to be raised for public auction by SRI on November 27. Based on its floor area of 1,582 sq ft, the guide price of the shophouse is $2.55 million or $1,612 psf.
The shophouse is in just 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 approximately a 15-minute walk away.
The estate has obtained a few queries from potential parties, says Liew. “These are usually investors who are drawn in to the building’s site in the central area of Bukit Merah,” he includes.
The shophouse is totally tenanted and will be offered with its existing tenancies. The ground level is leased to a Domino’s Pizza restaurant up until 2026, while the upper level is leased to a non commercial tenant till 2027.
The shophouse lies inside the Bukit Merah Town Centre that makes up a collection of buildings with shops and other amenities, offering the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is additionally a four-storey boutique convention hub, Rubikon, and Gateway Theatre, a performing arts center.
As HDB shophouses are deemed business real estate, the shophouse will be eligible for acquisition by immigrants. However, more purchaser’s stamp obligation will most likely be payable on the property’s non commercial component, whereas the business element is going to be subject to the goods and services tax obligation.
