Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
Information gathered on EdgeProp Study presents that the most recent business purchase at 161 Bukit Merah Central was the profit of a 1,582 sq ft shophouse that fetched $1.5 million ($948 psf) in March 2021.
A proprietor’s sale, this is the very first time the property is going up for auction, according to Eric Liew, manager of auction sales at SRI. “The proprietor means to market the property to liquidate their investment,” he mentions.
The real estate has a period of 103 years from 1980, which implies it has a standing contract of 59 years. Its ground floor occupying 732 sq ft is zoned for business use, whilst the 850 sq ft higher level is zoned for residential usage.
A two-storey HDB shophouse near Bukit Merah Central will be put up for auction by SRI on November 27. Based upon its floor area of 1,582 sq ft, the overview price of the shophouse is $2.55 million or $1,612 psf.
The real estate has obtained a few enquiries from interested parties, says Liew. “These are commonly investors who are attracted to the building’s site in the central 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 until 2026, whereas the higher level is rented to a residential tenant till 2027.
The shophouse is just within 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 Station is about a 15-minute walk away.
As HDB shophouses are regarded commercial property, the shophouse is going to be eligible for purchase by immigrants. However, increased buyer’s stamp duty will most likely be payable on the property’s non commercial segment, while the business component will be susceptible to the goods and services tax obligation.
The shophouse lies within the Bukit Merah Neighborhood Center which makes up a collection of buildings with stores and other features, offering the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is even a four-storey shop convention centre, Rubikon, and Gateway Theatre, a performing arts centre.
