A two-storey HDB shophouse in Bishan has been put up for sale via an expression of interest (EOI) with an asking price of $3.68 million.

Located off Bishan Street 11, the property has a total land area of approximately 1,571 sq ft. A shop space occupies the first floor with a strata area of about 667 sq ft, while the second floor offers living quarters of around 904 sq ft. According to ERA Singapore, the appointed marketing agent for the property, the 99-year leasehold property has a remaining lease of about 62 years.

The ground floor shop is currently leased to a mini-mart selling sundry goods and services, while the second floor is vacant. ERA says the shophouse could potentially be subdivided into smaller units for retail and other uses such as F&B, subject to approvals. Potential buyers could also consider converting the upper floor to non-residential uses, it adds.

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The agency notes that the retail shop enjoys excellent visibility along the walkway and is part of a cluster of shops and eateries frequented by residents staying in the Bishan Green estate. Bishan Green forms part of the Bishan East subzone, which has a resident population of around 28,360. ERA expects footfall to shops in Bishan Green to get a further boost from the 472-unit Bishan Towers Build-To-Order project, which was completed this year.

The property is located within a five-minute drive to Bishan MRT Station (Circle and North South Lines) and the Bishan bus interchange.

Donald Goh, director of capital markets and investment sales at ERA Singapore, expects the property to garner strong interest from both investors and end-users. He observes “increased interest in mid-market sector assets”, including HDB shophouses. “Specifically for HDB shophouses, there are only about 8,500 units available islandwide for private ownership and no new supply,” he adds.

The EOI exercise is expected to close on Sept 16 at 3pm.