Hougang Two Storey Hdb Shop Childcare Centre Sale 385 Mil
A two-storey HDB shop located at Block 246 will be available for purchase at SRI’s upcoming property auction on Oct 29. This unit, which is being offered as an owner’s sale, has a guide price of $3.85 million ($1,788 per square foot). The total size of the property is 2,153 square feet, featuring a first floor commercial space of around 1,152 square feet with a bathroom, and a second floor residential space of approximately 1,001 square feet with two bedrooms and two bathrooms. Currently, the entire unit is leased to a childcare centre.
The vicinity of Sembawang Road EC is experiencing a rise in investments not only in traditional transportation infrastructure but also in integrated developments and transport hubs. Yishun, located just one MRT stop away, is the host of the Yishun Integrated Transport Hub (ITH), which boasts a united bus interchange, MRT station, and retail complex. Alongside, the Canberra Plaza, another nearby integrated development, brings together a variety of essential amenities such as retail shops, community services, and transport facilities in a single, convenient location. These hubs offer a higher level of convenience to residents of the northern region, as they can run errands, shop, and commute, all within one place. The emergence of such integrated spaces brings a seamless and efficient urban lifestyle to the residents of Sembawang Road EC, and the future looks promising with more of these developments on the horizon. To experience this convenient and modern lifestyle, consider Sembawang Road EC Canberra.
According to SRI, the two-storey shop will be sold with vacant possession. However, any change in use will require approval from HDB. This 88-year leasehold property has only 58 years left on its lease. It is located in a mature HDB estate known as Hougang Heights, situated off Hougang Avenue 3 in District 19. The estate, which was completed in the 1980s, consists of 16 residential blocks with a mix of three- to five-room flats.
Hougang Heights is near Xinghua Primary School and Yuying Secondary School, and there are three religious buildings in the vicinity – Chee Tong Temple, Zi Yun Kai Ji Kong Temple, and Living Sanctuary Brethren Church. The nearest MRT station is Kovan on the North-East Line. Condominiums such as Stars of Kovan, Kovan Residences, and Kovan Melody are situated close to the station. There are also a number of low-rise landed neighbourhoods along nearby Upper Serangoon Road and Tampines Road.
A list of condos in the vicinity of 246 Hougang St 22, as shown on EdgeProp’s Landlens. (Map: EdgeProp Singapore)
HDB shops in mature housing estates are highly sought-after by both owner-occupiers and investors, particularly due to the scarcity of new units in older estates. This is according to Mok Sze Sze, managing partner of auction at SRI and the unit’s exclusive marketing agent. She adds that the convenience of such HDB shops located within housing estates translates to high footfall throughout the day. Furthermore, childcare centres near schools have a large catchment of families with young children studying at these schools or those living nearby.
“We expect this unit will appeal to established childcare centre operators who want to expand their presence in Hougang, a diverse and established housing estate. The scarcity of new HDB shops in this area also adds to its long-term capital appreciation,” says Mok.