The property's guide price is $5.4 million ($1,537 psf). The additional buyer’s stamp duty will not be imposed on the commercial portion of the property, says CBRE, which is marketing the sale. (Photo: CBRE)
SINGAPORE (EDGEPROP) - A HDB shophouse with living quarters at 108 Hougang Avenue 1 has been put up for sale. The property has living quarters and ground retail floor space. The property's guide price is $5.4 million ($1,537 psf). The additional buyer’s stamp duty will not be imposed on the commercial portion of the property, says CBRE, which is marketing the sale. (Find Singapore commercial properties with our commercial directory)
The shophouse has a combined gross floor area of up to 3,514 sq ft, with the ground floor retail space being approximately 1,511 sq ft. Located in the Hougang residential estate, the property has a prominent 20 m frontage along Hougang Avenue 1. It is fully tenanted with a supermarket on the ground floor and a tuition centre on the upper floor.
Map and overview of 108 Hougang Avenue 1 (Source: EdgeProp LandLens)
“HDB shophouses have had a strong track record of capital appreciation and are often viewed as a good hedge against inflation. In an environment of high inflation, a fully tenanted HDB shophouse in one of Singapore's most populated HDB towns is rare and presents an excellent opportunity for investors looking for a defensive asset,” says CBRE’s head of Singapore capital markets, Michael Tay.
The property 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.
Based on URA’s Master Plan 2019, CBRE highlights that the shophouse is also located 450m away from several new Build-To-Order (BTO) residential projects. Upon completion in 2025 to 2026, they will yield 1,439 HDB units. (Find HDB flats for rent or sale with our Singapore HDB directory)
“With the large residential and worker catchment around the area, the property is ideal for investors looking to capitalise on the strong rental upside, value-add opportunities and capital appreciation. Due to the regular layout and prominent frontage, there is an opportunity to lease the ground floor to two tenants to maximise rental returns soon,” adds Joshua Giam, associate director of capital markets at CBRE Singapore.
The sale will be conducted via an expression of interest exercise, which closes on Thursday, May 11, at 12pm.
Check out the latest listings near 108 Hougang Avenue 1, Kovan MRT Station