Special Feature

Rare chance to acquire Ghim Moh HDB shophouse for $3 mil

By Aster See
February 17, 2023 9:00 AM SGT
Given the scarcity of available HDB shophouses on the market, the sale of the 1,471 sq ft shophouse at 21 Ghim Moh Road is a rare opportunity for both aspiring and experienced investors.
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Savvy real estate investors looking to enhance their real estate portfolio now have the chance to acquire a prime HDB shophouse at Ghim Moh Road. This 1,474 sq ft, two-storey shophouse is nestled within the mature Queenstown estate. The property is on the market for $3 million and open for negotiation.
The shophouse is at 21 Ghim Moh Road and the new owner will be taking over an already-tenanted property. This opens the door for an investor to reap steady, long-term rental income, as well as capitalise on the potential capital uplift of the property. The property has a 99-year leasehold tenure with about 54 years left on the lease.

A thriving neighbourhood

Ghim Moh is an established neighbourhood in Queenstown. The area features several HDB developments and private condominiums, as well as schools, transport networks, community amenities and green spaces. This makes it a popular choice for many young couples and families.
The area is bounded by major roads such as Holland Road, North Buona Vista Road and Commonwealth Avenue West. It also benefits from proximity to two major MRT stations – Buona Vista Interchange on the Circle and East-West Lines, and Holland Village on the Circle Line.
Ghim Moh is a thriving mature HDB estate in Queenstown. The presence of schools, transport connectivity, and community amenitites make it a popular choice for families and couples. (Picture: Albert Chua/The Edge Singapore)
Fairfield Methodist Primary School and Henry Park Primary School are nearby. Other schools in the vicinity include New Town Primary School and Anglo-Chinese Junior College. Singapore Polytechnic is also located in the area.
New and upcoming Build-To-Order (BTO) developments will continue to add new life and vibrancy to the Ghim Moh area. In fact, there are two upcoming BTO developments beside 21 Ghim Moh Road.
The 867-unit Ghim Moh Ascent on Ghim Moh Road was launched as part of the May 2022 BTO exercise. The subsequent BTO exercise in November 2022 also saw two new projects launched in the Queenstown area, namely the 991-unit Ghim Moh Natura along Ghim Moh Road, and the 1,330-unit Ulu Pandan Banks on Commonwealth Avenue West. These three developments were released under the Prime Location Public Housing (PLH) scheme.
In addition, a large resident population in neighbouring Ulu Pandan adds to the demand for amenities and F&B in the area.
The completion of new BTO projects in the area will add to the bustling resident population, and drive up retail footfall that will benefit shops in prime locations in the neighbourhood. (Picture: Albert Chua/The Edge Singapore)
All told, new developments and an attractive central location means a strong consumer footfall that will benefit commercial and retail properties, including the HDB shophouse for sale. “Businesses can look forward to a big catchment area and high footfall. There are a handful of shopping amenities and cafes within this high-density area. Thus, the shophouse at 21 Ghim Moh Road will enjoy a steady captive market with minimal competition,” says Aster See, the agent marketing this property.

HDB shophouses: a unique yield-generating asset

HDB shophouses are a unique type of public housing development in Singapore that straddles residential and commercial spaces. These attributes make this asset a resilient and high-yielding investment choice for many investors.
Firstly, HDB shophouses tend to be more affordable compared to most other types of pure residential or commercial properties. This makes it a good investment option for aspiring investors who want to start their portfolio with a functional and budget-friendly asset.
Next, the combination of residential and commercial spaces provides multiple income streams for investors and owners. For example, the shophouse for sale at Ghim Moh Road is fully leased and generates a monthly rent of approximately $9,000. This comes from the lease of the two ground-floor units to a traditional Chinese medicine shop and a hair salon, while the residential unit is also leased.
Potential owner-occupiers will also find the dual-use space a convenient and versatile option for their business or personal use.
The Ghim Moh Market & Hawker Centre faces the HDB shophouse for sale. HDB shophouses can typically count on a steady resident population of shoppers. (Picture: Albert Chua/The Edge Singapore)
In addition, HDB shophouses are typically located in central areas or estates with a high residential density. They usually are also close to shopping centres, community facilities and amenities. The shophouse for sale is close to the Ghim Moh Market and Food Centre and the Ulu Pandan Community Building, where the Ulu Pandan branch of the Holland-Bukit Panjang Town Council is housed.
Finally, HDB shophouses have the potential to hold their capital value over a long period, making them an ideal investment option for those looking for assets that show long-term capital appreciation. As a result, HDB shophouses are one of the most desirable and highly demanded commercial properties in Singapore. This is especially true for shophouses in central locations like Queenstown.

Window of opportunity

Given the scarcity of available HDB shophouses on the market, the sale of the 1,471 sq ft shophouse at 21 Ghim Moh Road is a rare opportunity for both aspiring and experienced investors.
The locale is expected to benefit from an influx of new residents when the BTO developments are completed, and the area’s central location and nearby schools and amenities are a constant draw for couples and families to locate there.
In addition, a large catchment of working professionals commute daily to the nearby one-north business park district, which benefits retailers in Ghim Moh throughout the day.
HDB shophouses mix residential and commercial spaces - attributes that make this asset a resilient and high-yielding investment choice for many investors, says Aster See, the exclusive marketing agent for the HDB shophouse at 21 Ghim Moh Road.
For more information:
Contact Aster See | 98416930
Marketing Director (R063006G)

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