Bukit Merah HDB shops, Havelock Road shophouse up for sale

An intermediate three-storey freehold shophouse along Havelock Road and four HDB show units within the Bukit Merah housing estate are for sale.

The shophouse at 727 Havelock Road is for sale at an estimate of $7 million. It has a gross floor area of 3,767 sq ft on a land area of 1,574.8 sq ft. Under URA’s 2014 Master Plan, the first floor of the shophouse is zoned for residential and commercial use with a plot ratio of 3. The second and third storeys can be used only for residential purposes. The owner can perform alteration works to enhance the value of the property, subject to the authorities’ approval, according to Savills, the exclusive marketing agent for the development.

“Prospective buyers can consider renting the ground floor space to an F&B operator, and having home office cum co-living concepts for the upper floor units, subject to approval,” says Donald Goh, director of investment sales at Savills.

The four HDB shops are selling at a price range of $3.5 million to $4 million each. The shops are located on the ground floor of HDB building blocks: two adjoining units are located at 65 Telok Blangah Drive, a six-minute walk to Telok Blangah MRT station; while the other two adjoining units are located at 131 Jalan Bukit Merah, within housing development clusters of Kim Tian and Tiong Bahru estates.

Each HDB shop unit has a floor area of 1,442 sq ft to 1,787 sq ft, and is on HDB lease with 57 to 59 years left. The shops are located in estates with access to an estimated 144,000 residents.

The expressions of interest will close on June 12, 2018, at 3pm.

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