Four HDB Shophouse Units For Sale At $13.4 Million Portfolio
The rare portfolio may attract income-focused investors seeking city-fringe commercial assets, while strong accessibility, footfall and neighbourhood rejuvenation could support longer-term rental and capital growth.
Four fully tenanted HDB shophouse units in Bras Basah and Lavender, totalling approximately 6,609 sq ft, are offered individually or collectively for $13.4 million.
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With relatively few HDB shophouse units in private ownership, it’s rare to see a portfolio comprising four of these high yielding assets put up for sale at the same time. The properties for sale are located in two city-fringe locations, Bras Basah and Lavender, and have been listed at a guide price of $13.4 million.
The HDB shophouse units benefit from prominent frontages and strong pedestrian footfall, given their location in mature estates. The properties will also be sold with existing tenancies, making them appealing to investors looking for well-located commercial assets.
Together, the units have a combined strata area of approximately 6,609 sq ft, and can be acquired individually or collectively. The properties will be sold in an Expression of Interest (EOI) exercise managed by CBRE, the sole marketing agent.
“The defensive nature of HDB shophouse investments appeals to investors seeking stable income-generating opportunities. Over the last four years, HDB town centres have remained vibrant as more people work from home and increasingly patronise neighbourhood retail offerings,” says Michael Tay, Deputy Managing Director and Head of Capital Markets at CBRE Singapore.
The ground floor unit for sale at 231 Bain Street. (Photo: CBRE Singapore)
The properties in Bras Basah are two full-commercial HDB shophouse units within Bras Basah Complex at 231 Bain Street. Both are collectively priced from $9.8 million. The ground floor unit has a strata area of 1,916 sq ft, while the unit on the second floor is 2,777 sq ft. Each unit could appeal to different tenant profiles and business uses.
For retail operators, the corner ground floor unit enjoys prominent frontage facing Raffles Hotel, and is currently tenanted to a Korean minimart. The visibility enhances the unit’s appeal to businesses that depend on walk-in traffic and brand exposure.
The unit on the second floor is a corner unit with dual frontage. Located directly beside the staircase, its position enhances accessibility and visibility from the ground floor. This unit is currently leased to a language school, the unit is well positioned to tap on the neighbourhood’s strong student catchment from nearby schools including Nanyang Academy of Fine Arts, School of The Arts and Singapore Management University.
The unit on the second floor of 231 Bain Street. (Photo: CBRE Singapore)
Brash Basah Complex is in a prime city-fringe location that is currently served by four MRT stations. (Map: URA)
Strategically located within three established lifestyle and commercial precincts – Bras Basah, Bugis and the Civic District – these units in Brash Basah Complex benefit from a diverse pool of office workers, students, tourists and residents.
The location is also close to four MRT stations – Bras Basah, Bencoolen, City Hall and Esplanade – and enjoys excellent connectivity to the city centre via the East Coast Parkway (ECP) and the Central Expressway (CTE).
The remaining two HDP shophouse units are two adjacent ground floor units at 803 King George’s Avenue, and are currently leased to a café-gallery operator. They have a combined strata area of approximately 1,916 sq ft and are on the market for $3.6 million.
The adjacent ground floor units are on an efficient and regular-shaped floor plate, which CBRE says is ideal for customer-facing businesses looking for optionality to use the units as an integrated premise.
The properties are close to Lavender MRT station on the East-West Line, and this significantly enhances its retail catchment and pedestrian footfall, as well as public transport accessibility to customers and staff working in the area. It also benefits from ample parking lots in the vicinity.
The pair of ground floor units at 803 King George’s Avenue. (Photo: CBRE Singapore)
Crucially, this area at King George’s Avenue offers investors exposure to a set of commercial properties in a developing neighbourhood in transition. This opens the door to future capital and rental growth over the longer term as more visitors and businesses get drawn to the area.
The area has been undergoing rejuvenation in recent years, and the precinct is now home to a growing cluster of lifestyle cafés and fitness centers. For investors, this kind of tenant clustering can be a positive sign. As more lifestyle operators establish themselves, the precinct can become a destination in its own right. The existing café-gallery concept also validates the space’s ability to support an experiential, destination-driven business.
The EOI for the sale of the portfolio of HDB shophouse units closes on September 9.