# A Rare Row Of Three Adjoining HDB Shophouses Has Just Come Up For Sale In Telok Blangah - **Source:** Stacked Homes - **Published:** 2026-07-23T11:07:15.000Z - **Author:** Sihan Chia - **Original:** https://stackedhomes.com/a-rare-row-of-three-adjoining-hdb-shophouses-has-just-come-up-for-sale-in-telok-blangah/ - **Topics:** HDB & Public Housing, Commercial & Industrial, Government & Policy ## Featured rationale Their scarcity, immediate rental income and nearby housing expansion may support investor interest and potentially strengthen future rents for Telok Blangah commercial properties. ## AI summary Three adjoining, fully tenanted HDB shophouses at 65 Telok Blangah Drive are offered for $7.9 million, or $1,690 psf, through an EOI closing September 16. ## Original article Three HDB shophouses at 65 Telok Blangah Drive have been listed for sale at a guide price of $7.9 million. The adjoining properties have a total strata floor area of 4,672 sq ft, and the price translates to $1,690 psf. The HDB shops are located in Blangah View, a HDB estate bounded by Henderson Road and Telok Blangah Drive. This estate is next to Langah Rise Primary School, Telok Blangah Community Centre, as well as two temples. The HDB estate is close to Telok Blangah MRT Station on the Circle Line, and the shops have a prominent frontage facing a public car park. This is a mature neighbourhood and a well-established residential catchment. Each of the ground floor units (#01-166/168/170) includes second-storey residential living quarters that would appeal to tenants who need larger layouts, such as supermarkets, F&B groups, clinics, childcare and fitness operators. Being able to offer a more spacious layout could offer the landlord stronger bargaining power over tenants, while ensuring the long-term capital value of the properties. The properties will also be sold with existing tenancies, providing the new owner with immediate income. SRI, the sole marketing agent for these HDB shophouses in Telok Blangah, says that it is rare to find a row of three adjacent HDB shophouses for sale. This type of commercial asset has been tightly held ever since HDB stopped selling retail units in HDB estates in 1998. Low Choon Sin, Managing Partner of SRI Capital Market, points out that there are only about 8,500 privately owned HDB shophouses in the resale market, and the government has no plans to release any more retail units into private ownership. “Thus, opportunities to acquire multiple adjoining units of this scale are exceptionally rare. Such assets continue to attract investors seeking stable income, limited supply and long-term capital appreciation,” he says. Situated within the heart of the mature Telok Blangah estate, the HDB shops are an attractive city-fringe commercial asset. (Map: URA) SRI adds that the properties for sale are located in one of Singapore’s most promising city-fringe precincts. “Telok Blangah stands out as one of Singapore’s most exciting transformation stories, supported by major infrastructure improvements and significant residential expansion,” says Angela Lim, Director at SRI Capital Market. She is referring to the fact that Telok Blangah is next to a part of the Greater Southern Waterfront, the largest coastal transformation plan in Singapore, as well as the completion of the Circle Line and the development of the Berlayar district. She notes that investors today are increasingly looking beyond current income and focusing on locations with compelling long-term growth drivers. The opening of the new Keppel, Cantonment and Prince Edward Road MRT stations marks the final phase in the development of the Circle Line, and this has significantly enhanced connectivity between Telok Blangah, Marina Bay, the Central Business District (CBD) and the rest of Singapore. Meanwhile, the site of the former Keppel golf course will turn into a new waterfront township with approximately 10,000 new homes, comprising around 7,000 public housing units and 3,000 private residences. The Berlayar Estate will take shape over the next ten years or so. The substantial increase in the residential population is likely to create greater demand for retail, food and beverage, healthcare, lifestyle and essential services, providing upside potential for rental growth among retail and commercial properties in the vicinity, including Telok Blangah. “We believe this property is well-positioned to capture future rental growth given its strategic location, existing tenancy profile and proximity to one of Singapore’s largest upcoming waterfront residential developments,” says Low. With the completion of the three newest stations, the Circle Line now spans 39 kilometres across 33 stations with 12 interchanges connecting commuters to all existing MRT lines. (Image: LTA) Against this backdrop, the sale of the three HDB shophouses offers investors an opportunity to secure a scarce commercial asset in that vicinity, which benefits from immediate rental income and long-term value creation. Why are HDB shophouses in high demand? In general, HDB shophouses are attractive to investors as they typically attract a higher gross rental yield that outpaces traditional residential assets. Moreover, compared to other types of commercial real estate, such as some strata-titled retail units, HDB shophouses often fetch relatively lower prices and are a relatively low-risk way for investors to diversify their portfolio. In May 2025, a portfolio of six prime HDB shophouses in Ang Mo Kio, Tanjong Pagar and Toa Payoh collectively worth $73 million and fetching 4% yield were put up for sale. Three of them were ground floor units between 603-764 sq ft at Tanjong Pagar Plaza, at $5 million each. At 702 and 705 Ang Mo Kio Avenue 8, two shophouses with 2nd floor residential quarters were put on the market at $36 million for a 4,037 sq ft unit and $10 million for a 1,647 sq ft unit. The Toa Payoh unit was a 1,033 sq ft ground floor shop selling for $12 million. For the adjoining shophouses at 65 Telok Blangah Drive, the long-standing residential catchment contributes to consistent high footfall to the area, which translates to high rentability for the new owner. Both local and foreign investors can purchase the shophouses with no Additional Buyer’s Stamp Duty (ABSD) for the commercial component of the property. The properties will be sold in Expression of Interest (EOI) exercise that closes on Wednesday, September 16. ## Chinese translation > Translation model: grok_cli ### 直落布兰雅罕见一排三间相连建屋局组屋店屋挂牌出售 直落布兰雅通道65号三间相连建屋局组屋店屋以790万新元挂牌，已全部租出，买方无需缴付额外买方印花税（ABSD），意向书（EOI）截止日期为9月16日。 直落布兰雅通道（Telok Blangah Drive）65号的三间建屋局组屋店屋已挂牌出售，指导价为790万新元。这三处相连物业总分层建筑面积为4,672平方英尺，折合每平方英尺1,690新元。 这些建屋局商铺位于Blangah View，该建屋局组屋区以亨德申路（Henderson Road）与直落布兰雅通道为界。组屋区毗邻朗阿莱小学（Langah Rise Primary School）、直落布兰雅社区中心，以及两座庙宇。 该组屋区靠近环线（Circle Line）的直落布兰雅地铁站，商铺门面面向公共停车场，十分醒目。这是成熟邻里，也是完善的住宅客源区。 每间底层单位（#01-166/168/170）均含二楼住宅起居空间，对需要较大布局的租户具吸引力，例如超市、餐饮集团、诊所、托儿与健身业者。 能够提供更宽敞的布局，可为业主在与租户议价时带来更强话语权，同时保障物业的长期资本价值。物业也将连同现有租约一并出售，为新业主提供即时收入。 SRI作为这些直落布兰雅建屋局组屋店屋的独家营销代理表示，一排三间相邻建屋局组屋店屋同时出售的情况十分罕见。自建屋局1998年停止在组屋区出售零售单位以来，这类商业资产一直被紧持不放。 SRI Capital Market管理合伙人Low Choon Sin指出，转售市场中私人持有的建屋局组屋店屋仅约8,500间，政府也没有计划再向私人业权释放零售单位。 “因此，能以这种规模购入多间相连单位的机会极为罕见。此类资产持续吸引寻求稳定收入、供应有限与长期资本增值的投资者，”他说。 坐落于成熟的直落布兰雅组屋区核心，这些建屋局商铺是具吸引力的城市边缘商业资产。（地图：市区重建局/URA） SRI补充称，待售物业位于新加坡最具前景的城市边缘分区之一。“直落布兰雅是新加坡最令人振奋的转型故事之一，得益于重大基础设施改善与显著的住宅扩展，”SRI Capital Market董事Angela Lim说。 她指的是直落布兰雅毗邻大南部滨水区（Greater Southern Waterfront）的一部分——新加坡最大的滨海转型计划，以及环线完工与Berlayar分区的发展。她指出，如今投资者越来越多地超越当前收入，聚焦具备有力长期增长驱动因素的地点。 吉宝（Keppel）、广东民（Cantonment）与爱德华太子路（Prince Edward Road）三座新地铁站的开通，标志着环线发展进入最后阶段，显著加强了直落布兰雅与滨海湾、中央商务区（CBD）及新加坡其他地区的连接。 与此同时，前吉宝高尔夫球场地段将变身为新的滨水市镇，约有10,000套新住宅，其中包括约7,000套公共住房与3,000套私人住宅。Berlayar组屋区将在未来约十年内逐步成形。 住宅人口大幅增加，很可能推高对零售、餐饮、医疗保健、生活方式与基本服务的需求，为包括直落布兰雅在内的周边零售与商业物业租金增长提供上行空间。 “我们认为，鉴于其战略位置、现有租户结构，以及毗邻新加坡最大的即将落成滨水住宅发展项目之一，该物业具备良好条件捕捉未来租金增长，”Low说。 随着三座最新车站完工，环线现全长39公里、共33站，设有12个转乘站，连接通勤者至所有现有地铁线路。（图片：陆路交通管理局/LTA） 在此背景下，这三间建屋局组屋店屋的出售，为投资者提供了在该一带锁定稀缺商业资产的机会，既享有即时租金收入，也具备长期价值创造空间。 为何建屋局组屋店屋需求高企？ 总体而言，建屋局组屋店屋对投资者具吸引力，因为其通常能带来高于传统住宅资产的总租金收益率。此外，相较于其他类型的商业房地产，例如部分分层零售单位，建屋局组屋店屋往往价格相对较低，是投资者分散投资组合风险相对较低的方式。 2025年5月，位于宏茂桥、丹戎巴葛与大巴窑、总价值7,300万新元、收益率4%的六间黄金地段建屋局组屋店屋组合挂牌出售。其中三间是丹戎巴葛广场（Tanjong Pagar Plaza）面积603至764平方英尺的底层单位，各售500万新元。在宏茂桥大道8号702与705号，两间附带二楼住宅起居空间的店屋挂牌出售，4,037平方英尺单位报价3,600万新元，1,647平方英尺单位报价1,000万新元。大巴窑单位则为1,033平方英尺底层商铺，售价1,200万新元。 至于直落布兰雅通道65号的相连店屋，长期稳固的住宅客源带来持续高人流，对新业主而言意味着高出租能力。 本地与外国投资者均可购买这些店屋，物业的商业部分无需缴付额外买方印花税（ABSD）。物业将以意向书（EOI）方式出售，截止日期为9月16日星期三。