Three shophouses at 803 King George’s Avenue in Kallang have been put up for sale (Photo: CBRE)
SINGAPORE (EDGEPROP) - CBRE announced on March 18 that eight HDB shophouse units in Bras Basah, Geylang and Kallang are up for sale. They are being offered individually or as a collective purchase, with a guide price of $19.5 million.
Two shophouse units are on Bras Basah Complex's ground and second floors at 231 Bain Street. The ground-floor unit is about 1,798 sq ft, while the second-floor unit is 2,777 sq ft.
The ground floor unit at Bras Basah Complex occupies 1,798 sq ft and is tenanted to a Korean minimart (Photo: CBRE)
The ground-floor unit faces the Raffles Hotel and is currently tenanted to a Korean minimart. It comes with an adjacent ATM space. The second-floor unit is a corner shop with dual frontages directly beside the staircase. At present, it is tenanted for office use.
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The second floor corner unit at Bras Basah Complex which is tenanted for office use (Photo: CBRE)
Three adjacent two-storey shophouse units are on 119 Aljunied Avenue 2 in Geylang. With a total strata area of 4,897 sq ft, the units have a prominent main road frontage along the Geylang East Central main road.
The shophouse's ground and upper floors occupy approximately 2,174 sq ft and 2,723 sq ft, respectively. The ground-floor unit is leased to a dental clinic and an ATM auto lobby.
The three adjacent two-storey shophouse units on 119 Aljunied Avenue 2 are priced from $6.9 million (Photo: CBRE)
The remaining three shophouses are at 803 King George’s Avenue in Kallang. They consist of two adjacent ground-floor units and a unit on the second storey.
The ground-floor units have a combined strata area of approximately 1,816 sq ft and are tenanted to a cafe, Habitat Coffee, and an ATM space. The second-storey unit, which is 958 sq ft, is tenanted for office use.
If purchased separately, the Bras Basah complex units are priced from $8.9 million. The Aljunied Avenue 2 and 803 King George’s Avenue assets have a guide price of $6.9 million and $4 million, respectively.
Joshua Giam, associate director of capital markets, Singapore at CBRE, says the assets collectively yield more than 4%. He adds that, subject to the relevant authorities' approval, there is also potential to increase the rental yield or subdivide the spaces to lease to more tenants.
Read also: HDB shop at Teck Whye Lane on the market for $4.45 mil
The expression of interest (EOI) exercise closes on April 23 at 3pm.