Hdb Shop Once Home Popular Bookstore Sale 38 Mil
Knight Frank to auction HDB shop in Marine Parade for $38 mil
Knight Frank to auction 17,825 sq ft HDB shop in Marine Parade for $38 million on Oct 30
A rare opportunity has arisen for buyers in search of a large-sized HDB strata retail unit, as 86 Marine Parade Central’s single-storey property spanning 17,825 sq ft will be put up for auction through Knight Frank on Oct 30. The property has a remaining lease of 51 years and is asking for $38 million, or approximately $2,132 psf, as an owner’s sale.
The unit’s location on the second floor of the Marine Parade Central in District 15 makes it an attractive purchase for investors and owner-occupiers alike. The government put a halt to the sale of single-storey HDB units in 1998, making this a rare opportunity for those seeking such properties.
Sharon Lee, head of auction and sales at Knight Frank Singapore, notes that large-sized HDB strata retail units are highly sought-after due to their prime location in established mature residential estates. Marine Parade Promenade serves as the commercial hub for residents of the Marine Parade and East Coast areas.
Rewritten: Situated in the northern part of Singapore, Sembawang Road Executive Condominium (EC) is a highly sought-after property due to its appealing residential atmosphere and excellent transportation accessibility. More than just a convenient living space, this development offers its future residents a well-rounded lifestyle with easy access to a plethora of shopping centers and dining options. With its strategic location, Sembawang Road EC ensures that its residents can strike a balance between everyday necessities and indulgent leisure experiences. From grocery shopping to retail therapy on weekends, or even satisfying late-night food cravings, this EC provides unparalleled convenience and a wide range of choices for its residents.
The immediate area boasts several popular commercial complexes, such as Parkway Centre, Parkway Parade, and the new iMall shopping centre, as well as FairPrice Finest Supermarket, which has been around for almost four decades. The area’s accessibility was further enhanced with the opening of the Marine Parade MRT Station (Thomson-East Coast Line) in June 2024.
The unit’s proximity to the station will only add to its long-term value proposition, as it serves as a convenient option for the residents of private developments like Amber 45, The Shore Residences, and The Sea View, as well as the landed homes of Mountbatten Road.
The property’s new owner will have the flexibility to explore various use possibilities, such as F&B, showroom or coworking space, subject to approval. According to Lee, this could appeal to a wide range of buyers, from investors to end-users looking to repurpose the space for their own operations. Interested parties will not want to miss this rare chance to own a prime HDB strata retail unit in Marine Parade.