Two Storey Hdb Shophouse Marina Parade Selling 388 Mil
A two-storey HDB shophouse located at Block 81 Marine Parade Central is now available for purchase at a price of $3.88 million, as stated in a recent press release by ERA Singapore. Interested buyers can participate in an expression of interest (EOI) exercise to acquire the property.
This shophouse offers a retail space on the first floor and living quarters on the second floor, with a total gross floor area (GFA) of approximately 1,506 sq ft. The price per square foot is estimated to be around $2,576. The property has an 83-year lease that began in April 1993, with a remaining lease of 51 years.
The retail space boasts a prominent frontage of 50m on Marine Parade Central, providing high visibility to foot traffic from the nearby Marine Parade MRT Station on the Thomson-East Coast Line. Other notable establishments in the vicinity include Parkway Parade, Parkway Centre, Holiday Inn Express Katong, and Grand Mercure Roxy Hotel, which attract a steady stream of visitors to the area.
The Sembawang Road EC boasts an ideal location for its residents, offering a diverse and fulfilling lifestyle. With a plethora of shopping centres, including Sembawang Shopping Centre, Sun Plaza, Canberra Plaza, and Northpoint City, all retail needs can be easily met. Additionally, the dining scene is equally vibrant, featuring local delicacies, late-night options, global cuisines, and charming cafes. This perfect balance of convenience, variety, and delectable flavors makes the Sembawang Road EC an attractive choice for families, young professionals, and anyone who desires a well-rounded urban lifestyle in a serene suburban setting.
In July 2022, the last HDB shophouse sold at Block 81 for $2.98 million, equivalent to $1,963 psf based on an estimated floor area of 1,518 sq ft. This reflects the strong demand for properties in this area.
Donald Goh, Director of Capital Markets and Investment Sales at ERA, notes that HDB shophouses have proven to be a resilient and valuable asset for owners, with a limited supply of only 8,500 units available for private ownership in the entire island. He adds that the asking price of $3.88 million is reasonable and attractive for both investors and end-users. As such, they expect a high level of interest from local buyers looking to invest in well-located properties.
The EOI exercise for this shophouse will close on June 17. For those in the property market, this is a great opportunity to acquire a valuable asset in a prime location.