Four HDB shophouses in Tampines up for sale at $12 mil
By Jennifer Venkat
/ EdgeProp Singapore |
The shophouses, zoned for “commercial” use, are within walking distance of the Tampines East MRT Station on the Downtown Line. (Photo: Huttons Asia)
SINGAPORE (EDGEPROP) - Four single-storey HDB shophouses at Block 475 Tampines Street 44 are up for sale through an expression of interest (EOI) exercise at a guide price of $12 million. Its sole marketing agent is Huttons Asia.
The shophouses, zoned for “commercial” use, are within walking distance of the Tampines East MRT Station on the Downtown Line. The four HDB shophouses have a balance lease of approximately 68 years. Two of the units are corner shops. All four units are currently tenanted. (Find Singapore commercial properties with our commercial directory)
Map and overview of 475 Tampines Street 44 (Source: EdgeProp LandLens)
“There is high human traffic throughout the day, from residents to students from surrounding schools. There is ample parking in the area for patrons. Footfall to the shops is likely to increase when more residential homes are built on the empty parcels of land in the vicinity,” says Rey Song, senior division director of Huttons Asia.
“HDB shophouses are more affordable than conservation shophouses and are highly sought after by investors over the past 2-3 years due to the additional buyer’s stamp duty (ABSD) payable for residential properties,” says Jeremy Lim, senior group district director of Huttons Asia. (Find HDB flats for rent or sale with our Singapore HDB directory)
Recent rental transactions on 475 Tampines Street 44 (Source: EdgeProp Research tool)
“There are only 8,500 HDB shophouses that can be resold in the market. Furthermore, the shophouses are not subjected to ABSD and seller’s stamp duty. It should see healthy interest from investors,” adds Lee Sze Teck, senior director of research at Huttons Asia.
The EOI exercise for the property will close on May 17 at 3pm.
Check out the latest listings near Tampines East MRT Station
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