Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The property has gotten a couple of enquiries from potential parties, says Liew. “These are commonly capitalists that are drawn in to the property’s area in the main area of Bukit Merah,” he adds.
As HDB shophouses are regarded commercial building, the shophouse will be eligible for purchase by immigrants. However, additional purchaser’s stamp obligation will be payable on the property’s residential segment, whereas the business component is going to be subject to the goods and services tax obligation.
Information compiled on EdgeProp Research presents that the most recent business transaction at 161 Bukit Merah Central was the purchase of a 1,582 sq ft shophouse that obtained $1.5 million ($948 psf) in March 2021.
The shophouse is in just walking distance of the Bukit Merah bus interchange along Bukit Merah Central, the Gan Eng Seng Primary School and Bukit Merah Secondary School. The Redhill MRT Terminal is around a 15-minute walk away.
A proprietor’s sale, this is the very first time the property is going up for auction, according to Eric Liew, supervisor of auction sales at SRI. “The proprietor means to market the property to liquidate their assets,” he mentions.
The shophouse lies inside the Bukit Merah Neighborhood Center which comprises a collection of buildings with shops and other facilities, offering the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is even a four-storey store convention hub, Rubikon, and Gateway Theatre, a performing arts center.
The building has a term of 103 years from 1980, that indicates it has a standing rent of 59 years. Its ground floor occupying 732 sq ft is zoned for business use, whilst the 850 sq ft top ground is saved for residential use.
The shophouse is fully tenanted and will be offered with its presenting occupancies. The ground floor is rented out to a Domino’s Pizza restaurant up until 2026, whereas the higher level is leased to a non commercial tenant until 2027.
A two-storey HDB shophouse along Bukit Merah Central is going to be set up for auction by SRI on November 27. Based upon its floor surface area of 1,582 sq ft, the guide cost of the shophouse is $2.55 million or $1,612 psf.
