Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
The building has a period of 103 years from 1980, which means it has a remaining lease of 59 years. Its ground level taking up 732 sq ft is zoned for commercial use, whilst the 850 sq ft upper floor is saved for residence usage.
The real estate has received a couple of queries from potential parties, reveals Liew. “These are normally capitalists that are drawn in to the property’s site in the main area of Bukit Merah,” he adds.
The shophouse is totally tenanted and are going to be sold with its presenting tenancies. The ground level is rented out to a Domino’s Pizza dining establishment till 2026, whilst the upper level is leased to a non commercial renter till 2027.
The shophouse lies throughout the Bukit Merah Town Centre which comprises a cluster of structures with shops and other services, featuring the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is even a four-storey shop convention hub, Rubikon, and Gateway Theatre, a performing arts centre.
Information gathered on EdgeProp Research presents that the most recent commercial purchase at 161 Bukit Merah Central was the sale of a 1,582 sq ft shophouse that yielded $1.5 million ($948 psf) in March 2021.
As HDB shophouses are considered business building, the shophouse will be eligible for purchase by foreigners. However, increased buyer’s stamp duty will be payable on the property’s residential part, while the commercial component will be subject to the goods and services tax obligation.
A two-storey HDB shophouse along Bukit Merah Central will be put up for public auction by SRI on November 27. Based on its floor measurement of 1,582 sq ft, the overview cost of the shophouse is $2.55 million or $1,612 psf.
A proprietor’s sale, this is the first time the real estate is going up for sell-off, according to Eric Liew, manager of auction sales at SRI. “The owner aims to market the real property to cash in their investment,” he mentions.
The shophouse is within walking distance of the Bukit Merah bus interchange near 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.
