The asking price of the retail unit at Marine Parade Central is $2,132 psf. (Picture: Knight Frank)
A 17,825 sq ft HDB shop in Marine Parade Promenade will be on the block for $38 million at Knight Frank’s next property auction on Oct 30. An owner’s sale, the asking price works out to approximately $2,132 psf.
The single-storey retail unit is on the second floor of 86 Marine Parade Central in District 15. The property has a an 83-year lease from 1993. Hence, it has a remaining lease of 51 years.
The unit was occupied by Popular bookstore for over 37 years before the store closed in June 2023. After Popular’s closure, it was briefly leased to an events company but has since remained vacant for several months, according to Knight Frank.
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Sharon Lee, head of auction and sales at Knight Frank Singapore, notes that large-sized HDB strata retail units are rarely on the market due to the government's halt on sales of these single-storey units in 1998, resulting in very limited new supply since then. “Retail owner-occupiers and investors typically seek out these types of properties because they are usually well-located within established mature residential estates,” she adds.
Marine Parade Promenade is the commercial town centre for residents living in Marine Parade and the East Coast. The estate comprises six commercial blocks with retail shops that surround Marine Parade Central Market and Food Centre. Nearby is the FairPrice Finest supermarket, which Lee says has been around for nearly 40 years. “It used to be on the first level of Block 86, just below the Popular bookstore, before moving to the opposite block,” she recalls.
The Marine Parade Public Library, first opened in 1978, was previously housed in a two-storey block opposite the supermarket before relocating to the Marine Parade Community Complex in 2000. It is slated to reopen in the new Marine Parade Community Building in 1Q2026.
Other commercial complexes in the vicinity include Parkway Centre, Parkway Parade and the new iMall shopping centre.
A map of the area view using EdgeProp's Landlens tool. (Map: EdgeProp Singapore)
The area’s public transport accessibility was significantly enhanced after the Marine Parade MRT Station (Thomson-East Coast Line) opened in June 2024. Lee says that the unit’s proximity to the station will add to its appeal and long-term value proposition. Marine Parade MRT Station also serves several nearby private residential and commercial developments, including Parkway Parade, Roxy Square and i12 Katong.
Besides the Marine Parade HDB estate, there are also private condos nearby, such as Amber 45, The Shore Residences and The Sea View, as well as landed homes in the neighbourhood of Mountbatten Road.
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“We expect this unit to appeal to a diverse range of buyers,” says Lee. “Investors such as real estate funds, family offices, and foreign buyers may be attracted by its long-term capital appreciation potential, while end-users like retail chains or mixed-use developers could repurpose the space for their own operations.”
Given the size and layout of the retail unit, the new owner could explore various uses — such as F&B, a showroom, or a co-working space — subject to approval, she adds.
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