SINGAPORE (EDGEPROP) - A HDB shop at 138 Teck Whye Lane is up for sale via an expression of interest (EOI) exercise at a guide price of $4.45 million. The commercial shop has been approved by HDB to operate as a family restaurant and has a site area of 732 sq ft excluding the outdoor refreshment area, says Huttons Asia, the appointed marketing agent.

The shop has a lease of 93 years from 1992, with a balance lease of approximately 61 years. It is currently tenanted and generates a rental yield between 4.5% and 5%, Huttons highlights.

Jeremy Lim, executive group district director at Huttons Asia, says the property enjoys steady patronage given its location surrounded by HDB flats in the Chua Chu Kang estate. He adds that the property provides a rare opportunity for buyers to obtain an HDB shop with F&B approval that can provide steady rental returns.

Read also: Eight HDB shophouse units at Bras Basah, Geylang and Kallang put up for sale from $19.5 mil

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Dex Ho, senior marketing director at Hutton Asia, adds that the smaller quantum for the property compared to alternative F&B commercial properties makes it an appealing proposition for both business owners seeking to buy the property for their own use and investors.

Meanwhile, Lee Sze Teck, Huttons Asia’s senior director of data analytics, points out that the property does not come with living quarters and is not subjected to additional buyer’s stamp duty. Foreigners are also eligible to buy the property, he adds.

The EOI exercise for the shop will close on Dec 8 at 4pm.

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