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Eight HDB shophouse units at Bras Basah, Geylang and Kallang put up for sale from $19.5 mil

By Nur Hikmah Md Ali

/ EdgeProp Singapore |

March 18, 2024 4:22 PM SGT

Three shophouses at 803 King George’s Avenue in Kallang have been put up for sale (Photo: CBRE)

SINGAPORE (EDGEPROP) - CBRE announced on March 18 that eight HDB shophouse units in Bras Basah, Geylang and Kallang are up for sale. They are being offered individually or as a collective purchase, with a guide price of $19.5 million.

Two shophouse units are on Bras Basah Complex's ground and second floors at 231 Bain Street. The ground-floor unit is about 1,798 sq ft, while the second-floor unit is 2,777 sq ft.

The ground floor unit at Bras Basah Complex occupies 1,798 sq ft and is tenanted to a Korean minimart (Photo: CBRE)

The ground-floor unit faces the Raffles Hotel and is currently tenanted to a Korean minimart. It comes with an adjacent ATM space. The second-floor unit is a corner shop with dual frontages directly beside the staircase. At present, it is tenanted for office use.

Read also: Five HDB shophouses on the market for $42 mil

The second floor corner unit at Bras Basah Complex which is tenanted for office use (Photo: CBRE)

Three adjacent two-storey shophouse units are on 119 Aljunied Avenue 2 in Geylang. With a total strata area of 4,897 sq ft, the units have a prominent main road frontage along the Geylang East Central main road.

The shophouse's ground and upper floors occupy approximately 2,174 sq ft and 2,723 sq ft, respectively. The ground-floor unit is leased to a dental clinic and an ATM auto lobby.

The three adjacent two-storey shophouse units on 119 Aljunied Avenue 2 are priced from $6.9 million (Photo: CBRE)

The remaining three shophouses are at 803 King George’s Avenue in Kallang. They consist of two adjacent ground-floor units and a unit on the second storey.

The ground-floor units have a combined strata area of approximately 1,816 sq ft and are tenanted to a cafe, Habitat Coffee, and an ATM space. The second-storey unit, which is 958 sq ft, is tenanted for office use.

If purchased separately, the Bras Basah complex units are priced from $8.9 million. The Aljunied Avenue 2 and 803 King George’s Avenue assets have a guide price of $6.9 million and $4 million, respectively.

Joshua Giam, associate director of capital markets, Singapore at CBRE, says the assets collectively yield more than 4%. He adds that, subject to the relevant authorities' approval, there is also potential to increase the rental yield or subdivide the spaces to lease to more tenants.

The expression of interest (EOI) exercise closes on April 23 at 3pm.

Tags:

HDB Shophouse