Two-storey HDB shophouse at Bukit Merah Central for sale at $2.55 mil
As HDB shophouses are considered business real estate, the shophouse will be eligible for purchase by immigrants. However, more purchaser’s stamp obligation will most likely be payable on the property’s housing part, while the business element will be subject to the goods and services taxation.
The shophouse stands throughout the Bukit Merah Town Centre that makes up a cluster of structures with shops and other features, including the Bukit Merah Polyclinic and Bukit Merah Central Food Centre. There is also a four-storey boutique convention centre, Rubikon, and Gateway Theater, a performing arts centre.
The estate has obtained a couple of queries from attracted parties, tells Liew. “These are commonly investors who are attracted to the property’s area in the main area of Bukit Merah,” he adds.
An owner’s sale, this is the first time the property is going up for auction sale, according to Eric Liew, supervisor of auction sales at SRI. “The owner intends to sell the real property to cash in their venture,” he mentions.
A two-storey HDB shophouse along Bukit Merah Central will be raised for public auction by SRI on November 27. Based upon its floor surface measurement of 1,582 sq ft, the guide cost of the shophouse is $2.55 million or $1,612 psf.
The shophouse is in just walking range of the Bukit Merah bus interchange near Bukit Merah Central, the Gan Eng Seng Primary School and Bukit Merah Secondary School. The Redhill MRT Stop is about a 15-minute walk away.
The real estate has a period of 103 years from 1980, which indicates it has a standing lease of 59 years. Its ground floor occupying 732 sq ft is zoned for commercial usage, while the 850 sq ft top level is alloted for residential use.
Information compiled on EdgeProp Research shows that the most recent business deal at 161 Bukit Merah Central was the sale of a 1,582 sq ft shophouse that fetched $1.5 million ($948 psf) in March 2021.
The shophouse is completely tenanted and are going to be offered with its existing tenancies. The ground floor is leased to a Domino’s Pizza dining establishment until 2026, while the top ground is leased to a non commercial tenant up until 2027.
