The Toa Payoh HDB shophouse is located along a pedestrianised shopping street in Toa Payoh Central (Picture: Sakal Real Estate)
A pair of HDB shophouses located in Toa Payoh and Kovan have been launched for sale through an expression of interest (EOI) exercise. The properties, available for sale together or individually, are priced at $5.5 million and $5.3 million, respectively.
The shophouse in Toa Payoh is located at 178 Toa Payoh Central. It has a leasehold tenure of 78 years that commenced from October 1992, which means the property has about 44 years left on the lease.
The two-storey shophouse has a total strata area of 1,345 sq ft, consisting of 635 sq ft on the first floor and 710 sq ft on the second floor. The first floor is approved for commercial use, while the second floor is approved for usage as living quarters.
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The property is located along a pedestrianised shopping street at the heart of Toa Payoh, close to HDB Hub and Toa Payoh Library. It is roughly a five-minute walk from Toa Payoh MRT Station on the North-South Line and the integrated bus interchange.
In Kovan, the HDB shophouse up for sale is located at 210 Hougang Street 21. The two-storey property has a first-floor strata area of 850 sq ft approved for commercial use, while the second floor, approved for living quarters, measures 947 sq ft. In total, the property has a strata area of 1,798 sq ft.
The HDB shophouse in Kovan is located at 210 Hougang Street 21 (left), which is opposite the Kovan Wellspring Build-to-Order project (right) (Picture: Sakal Real Estate)
The property has around 57 years left on its 90-year lease, which began in April 1993. Situated close to Kovan Food Centre, it is directly across from Kovan Wellspring, a 586-unit Build-to-Order project due to complete this year. The shophouse is 150m away from the Kovan MRT Station on the North-East Line, with the bus interchange also nearby.
According to Sakal Real Estate, which is handling the sale of the properties, the owner currently operates businesses at the premises and is keen to lease back the properties post-sale. However, the owner would be open to selling the properties with vacant possession.
Steven Ming, Sakal’s managing director, believes the shophouses will attract strong investor interest. “The properties’ prime location in Toa Payoh Central and in the heart of Kovan City, coupled with their proximity to major transport nodes and established amenities, positions them exceptionally well for capital and income growth potential,” he adds.
The EOI will close on July 23 at 3pm.