A freehold shophouse in Paya Lebar and an HDB shophouse in Ang Mo Kio have been launched for sale via a joint expression of interest (EOI) exercise with a combined guide price of $10.06 million. Buyers may bid for one or both of the assets as part of the EOI.

The property in Paya Lebar is a two-storey freehold shophouse at 135 Upper Paya Lebar Road. It has a guide price of $5.58 million and will be sold with vacant possession.

Occupying 1,514 sq ft of land zoned for residential with commercial at first-storey use, the shophouse has a built-up area of approximately 2,630 sq ft. “At around $2,122 psf for a freehold shophouse, it is priced below many new 99-year leasehold condo launches in the Outside Central Region,” say Alex Wong and Cara Wong of PropNex RTD Commercial Team, who are handling the sale.

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According to the realtors, the property has received approval from URA for a 22-bed backpackers’ hostel on the ground floor, while the upper floor has been approved for residential use with eight rooms. The shophouse is 400m away from Tai Seng MRT Station on the Circle Line.

Meanwhile, the property in Ang Mo Kio is a two-storey HDB shophouse at 727 Ang Mo Kio Avenue 6 with a guide price of $4.48 million. It has 54 years remaining on its 86-year lease.

The shophouse has a floor area of about 1,636 sq ft, spanning a ground-floor shop of 743 sq ft and upper-floor living quarters of 893 sq ft. The upper floor has commercial use approval. Both floors are currently leased to an aesthetic clinic until March 2026.

“With stable rental income, potential for higher yields upon lease renewal, strong town centre rejuvenation prospects, and a prime Ang Mo Kio Town Centre location, this is a rare, secure, income-generating asset,” note Alex Wong and Esther Ng from PropNex, who are marketing the shophouse.

The EOI for the properties will close on Sept 26 at 3pm.