Located in Marine Parade, the two-storey property consists of retail space on the first floor and living quarters on the second floor. (Photo: ERA)
SINGAPORE (EDGEPROP) - A two-storey HDB shophouse has been launched for sale via an expression of interest at a guide price of $4 million. Located in Marine Parade, the two-storey property consists of retail space on the first floor and living quarters on the second floor. The second floor is fully tenanted.
The property has an 83-year lease that started from April 1, 1993. It has a floor area of 1,506 sq ft and a 50m frontage along Marine Parade Central. The upcoming Marine Parade MRT station on the Thomson East Coast Line, which is slated to open by 2024, is near the property. Other amenities nearby include Parkway Parade, Parkway Centre, Holiday Inn Express Katong and Grand Mercure Roxy Hotel.
According to ERA — the appointed marketing agent for the property — the Marine Parade area is fast becoming a sought-after location with many other prominent projects taking shape in the area. The projects include a slew of new condos such as Amber Park, Meyer Mansion, Tembusu Grand and The Continuum. Marine Parade’s continually increasing retail catchment will draw in buyers and investors to the property, adds ERA.
“With a limited supply of about 8,500 private-owned units available islandwide, HDB shophouses have proven to enjoy rental resilience and capital appreciation over time,” says Donald Goh, director of capital markets and investment sales of ERA Singapore, who is handling the sale of the property. (Find HDB flats for rent or sale with our Singapore HDB directory)
Goh expects the property to garner strong interest from local investors looking for well-located properties with stable yield and future capital appreciation potential.
The expression of interest exercise for the property will close on May 25 at 3pm.
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