# $38M HDB Shophouse Portfolio For Sale In Toa Payoh, Jurong East - **Source:** Stacked Homes - **Published:** 2026-09-07T12:49:45.000Z - **Author:** Sabrina Lee - **Original:** https://stackedhomes.com/4-rare-hdb-retail-shops-sale-38m-2-high-traffic-heartland-locations/ - **Topics:** HDB & Public Housing, Commercial & Industrial, Transactions & Deals ## Featured rationale The portfolio’s scarcity, above-3.7% net yields and ABSD exemption may support broad investor interest in mature-heartland commercial assets and flexible future divestment. ## AI summary Four HDB commercial properties in Toa Payoh and Jurong East are offered collectively for $38 million or individually from $5.5 million to $16 million. ## Original article A portfolio of four HDB commercial properties in two mature neighbourhoods in Singapore are now on the market, for a collective guide price of $38 million. The properties comprise a coffeeshop unit in Toa Payoh and three ground floor retail units in Jurong East. CBRE is the sole marketing agent for the sale of this portfolio, which will be conducted in an Expression of Interest (EOI) exercise. The portfolio may be acquired collectively, or units can be sold on an individual basis. The ground-floor corner coffeeshop is located at 183 Toa Payoh Central. The property benefits from a prominent 30m street-level frontage, and is opposite Toa Payoh Public Library, and close to HDB Hub and Toa Payoh MRT station on the North-South Line (NSL). The unit for sale has a total floor area of 1,851 sq ft, and a guide price of $16 million. Upcoming development plans in Toa Payoh Central revolve around the new 12-hectare integrated development along Lorong 6 Toa Payoh. This new building will house a new sports stadium, an aquatic centre, a sports hall, a polyclinic and a public library. It is scheduled for completion in 2030. The retail unit at 135 Jurong Gateway #01-327 is the smallest unit in the portfolio at just 592 sq ft. (Picture: CBRE) Meanwhile, the other three commercial units for sale are all found at J Connect (previously known as Jurong East Town Centre) at 135 Jurong Gateway Road. There are two units which span 1,195 sq ft each, as well as a 592 sq ft unit. Both of the larger commercial units have a guide price of $8.25 million each, while the smaller unit is on sale for $5.5 million. Development activity in this part of Jurong East was recently in the spotlight, particularly during the launch of J’Den in 2023. The upcoming 368-unit development, which also has a commercial podium, is opposite J Connect and all three commercial units face the new project. This part of Jurong East is anchored by several existing transport hubs and commercial developments, including Jurong East MRT Interchange, which currently connects the NSL and East-West Line, as well as JTC Summit. But there are plans to further develop this neighbourhood, especially the vacant land parcels around the new Singapore Science Centre and Jurong Town Hall. Address | Description | Strata Area (sq ft) | Guide Price ($) 183 Toa Payoh Central #01-316 | Ground floor corner HDB coffeeshop unit | 1,851 | 16 million 135 Jurong Gateway Road #01-323 | Ground floor corner HDB retail unit | 1,195 | 8.25 million 135 Jurong Gateway Road #01-327 | Ground floor HDB retail unit | 592 | 5.5 million 135 Jurong Gateway Road #01-333 | Ground floor HDB retail unit | 1,195 | 8.25 million 4,833 | 38 million HDB shophouses are usually single-storey, or two-storey units with a ground floor shopfront component, that are commonly found in most HDB estates and town centres. These types of properties are among the rarest commercial assets on the market, with approximately 8,500 still in private ownership. HDB stopped selling commercial units and shophouses to private owners in 1998, and subsequent commercial properties in new towns and estates – such as Bidadari and Punggol – have been on leases. Among the privately held HDB commercial units, coffeeshop units are even more scarce. The term “coffeeshop” means hawker-style eateries with multiple food and drink stalls run by different tenants. This is sometimes called a kopitiam: one HDB unit, sublet stall by stall. Out of all the privately held shophouses, only around 400 are currently classified as a coffee shop. These types of coffeeshop properties, particularly those located along high-traffic corridors – like Toa Payoh and Jurong East – are among Singapore’s most exclusive commercial assets, says Clemence Lee, Executive Director of Capital Markets at CBRE. It is worth taking note that the Toa Payoh shophouse is the only unit in the portfolio that is approved for coffeeshop use. The Jurong East units carry a general retail approval instead. “This portfolio presents investors with a rare opportunity to acquire a defensive collection of prime HDB coffeeshop and retail units, offering resilient net yields above 3.7%,” says Lee. “Priced at a palatable investment quantum of around S$38 million for the entire portfolio, or between S$5.5 million and S$16 million for individual units, we expect strong interest from a wide range of investors such as owner-occupiers, boutique real estate funds, corporate investors, family offices and high-net-worth individuals,” he says. The commercial unit at 135 Jurong Gateway #01-323, is on the market for $8.25 million. (Picture: CBRE) The sale of these neighbourhood commercial properties are available to local and foreign investors alike, without the transaction attracting any ABSD. This makes them an appealing investment opportunity for investors eager to add a stable income-producing asset to their portfolio, particularly those with an eye towards boosting their commercial exposure in a mature heartland. “The purchaser may also consider divesting the units individually as a future exit strategy, given each unit is priced at a much lower quantum that can appeal to both private investors and owner-occupiers,” says Lee. In the last few months, there have been a wave of HDB shophouses which have come onto the market for sale in packages, including properties in neighbourhood centres like Toa Payoh, and city-fringe locations like Bras Basah and Lavender. We last reported on a HDB coffee shop listing in March of this year, at Tanjong Pagar Plaza, and 262 Jurong East St 24. That was part of a five-unit portfolio listed at $30.92 million. Last month, two HDB shophouses in the same town, Toa Payoh Central, were listed at $40 million with a guide price of $5,417 psf for 7,384 sq ft. One of these had a residential component, which has an associated tax. In June, there was another listing in the same Toa Payoh block, at $5.5 million, with a total strata area of 1,345 sq ft, working out to $4,089 psf. The EOI exercise for the portfolio of HDB commercial units and coffeeshop will close on October 8. ## Chinese translation > Translation model: grok_cli ### 大巴窑、裕廊东3800万新元组屋店屋组合待售 大巴窑与裕廊东共四间组屋店屋以合计3800万新元挂牌出售，其中包括大巴窑公共图书馆对面的一间咖啡店，以及三间面向即将落成的J’den项目的零售单位。 新加坡两个成熟社区的四项组屋商业物业现已挂牌出售，整体指示价为3800万新元。该组合包括大巴窑一间咖啡店单位，以及裕廊东三间底层零售单位。 世邦魏理仕（CBRE）是该组合出售的独家营销代理，将以意向书（EOI）征集方式进行。该组合可整体收购，各单位亦可单独出售。 底层转角咖啡店位于大巴窑中心183号。该物业享有显著的30米临街面宽，正对大巴窑公共图书馆，靠近组屋中心（HDB Hub）以及南北线（NSL）的大巴窑地铁站。 待售单位总楼面面积为1,851平方英尺，指示价为1600万新元。 大巴窑中心即将展开的发展计划，围绕大巴窑第六巷沿线占地12公顷的综合发展项目展开。新大楼将设有新的体育场、水上运动中心、室内体育馆、综合诊疗所和公共图书馆，预计于2030年竣工。 位于裕廊门路135号#01-327的零售单位是该组合中最小的单位，面积仅592平方英尺。（图片：CBRE） 另外三间待售商业单位均位于裕廊门路135号的J Connect（前称裕廊东市镇中心）。 其中两间单位各占地1,195平方英尺，另有一间592平方英尺的单位。两间较大商业单位的指示价各为825万新元，较小单位售价为550万新元。 裕廊东这一带的发展动态近期备受关注，尤其是2023年J’Den开盘期间。这个即将落成的368个单位项目亦设有商业裙楼，正对J Connect，三间商业单位均面向该新项目。 裕廊东这一带由多个现有交通枢纽和商业发展项目支撑，包括目前连接南北线与东西线的裕廊东地铁转换站，以及JTC Summit。不过，该社区还有进一步开发计划，尤其是新新加坡科学中心和裕廊镇大会堂周边的空地地段。 地址 | 描述 | 分层面积（平方英尺） | 指示价（新元） 大巴窑中心183号#01-316 | 底层转角组屋咖啡店单位 | 1,851 | 1600万新元 裕廊门路135号#01-323 | 底层转角组屋零售单位 | 1,195 | 825万新元 裕廊门路135号#01-327 | 底层组屋零售单位 | 592 | 550万新元 裕廊门路135号#01-333 | 底层组屋零售单位 | 1,195 | 825万新元 4,833 | 3800万新元 组屋店屋通常为单层或两层单位，底层设有店面，常见于大多数组屋区和市镇中心。这类物业属于市场上最稀缺的商业资产之一，目前约有8,500间仍为私人持有。 建屋发展局（HDB）于1998年停止向私人业主出售商业单位和店屋，此后新市镇和组屋区——如比达达利（Bidadari）和榜鹅——的商业物业均以租赁方式供应。 在私人持有的组屋商业单位中，咖啡店单位更为稀缺。“咖啡店”指的是小贩式餐饮场所，由不同租户经营多个饮食档口。这有时也被称为kopitiam：一间组屋单位，按档口分租。在所有私人持有的店屋中，目前仅约400间被归类为咖啡店。 世邦魏理仕资本市场执行董事Clemence Lee表示，这类咖啡店物业，尤其是位于大巴窑和裕廊东等高人流走廊的单位，属于新加坡最稀缺的商业资产之列。 值得注意的是，大巴窑店屋是该组合中唯一获准作咖啡店用途的单位。裕廊东的单位则为一般零售用途批准。 “这一组合为投资者提供了难得的机会，可收购一批防御性强的优质组屋咖啡店及零售单位，净收益率稳健，超过3.7%。”Lee表示。 他表示：“整个组合的投资规模适中，约为3800万新元，各单位则介于550万新元至1600万新元，我们预计将吸引业主自用者、精品房地产基金、企业投资者、家族办公室和高净值人士等广泛投资者的浓厚兴趣。” 裕廊门路135号#01-323的商业单位，挂牌价为825万新元。（图片：CBRE） 这些邻里商业物业的出售对本地和外国投资者均开放，交易不征收任何额外买方印花税（ABSD）。这使其成为希望为投资组合增添可产生稳定收入资产的投资者的有吸引力机会，尤其是那些希望增加在成熟组屋区商业配置的投资者。 Lee表示：“买家亦可考虑日后将各单位单独出售作为退出策略，因为每个单位的定价规模低得多，可同时吸引私人投资者和业主自用者。” 过去几个月，市场上出现了一批以组合形式出售的组屋店屋，包括大巴窑等邻里中心的物业，以及百胜（Bras Basah）和劳明达（Lavender）等城市边缘地段的物业。 我们上次报道组屋咖啡店挂牌是在今年3月，地点为丹戎巴葛广场（Tanjong Pagar Plaza）以及裕廊东街24号262号。那是一个五单位组合的一部分，挂牌价为3092万新元。 上个月，同一市镇大巴窑中心的两间组屋店屋以4000万新元挂牌，指示价为每平方英尺5,417新元，总面积7,384平方英尺。其中一间含住宅部分，涉及相关税务。 6月，同一大巴窑组屋座另有一宗挂牌，售价550万新元，总分层面积1,345平方英尺，折合每平方英尺4,089新元。 该组屋商业单位及咖啡店组合的意向书（EOI）征集将于10月8日截止。