Portfolio of four HDB commercial properties in Toa Payoh and Jurong East for sale at $38 mil
The portfolio’s net yields above 3.7% and high-footfall locations may attract investors seeking scarce coffeeshop and retail assets with resilient income potential.
Four HDB commercial properties in Toa Payoh and Jurong East are offered individually or collectively at a combined guide price of $38 million.
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A portfolio of four HDB commercial assets, located in Toa Payoh and Jurong East, are available for sale through an expression of interest (EOI) exercise with a combined guide price of $38 million.
The properties comprise a ground-floor corner HDB coffeeshop at 183 Toa Payoh Central and three ground-floor retail units at 135 Jurong Gateway. Together, they have a total strata area of 4,833 sq ft.
The properties can be acquired either individually or collectively, said the exclusive marketing agent, CBRE.
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The ground-floor coffeeshop measures 1,851 sq ft and has a 30m frontage within the estate’s main retail precinct. The guide price starts from $16 million for this asset.
It is located opposite Toa Payoh Public Library and is within a four-minute walk from Toa Payoh MRT Station and Bus Interchange.
Over in Jurong East are three ground-floor HDB retail units, two measuring 1,195 sq ft each and the third spanning 592 sq ft. The two larger units have a combined guide price of $16.5 million, while the smaller unit is priced at $5.5 million.
The units are located opposite J’den, a mixed-use development comprising a retail podium and 368 residential units that is slated for completion in 2028. They will also be connected via the J-Walk to Jurong East MRT Interchange and the upcoming Integrated Transport Hub, which is expected to be completed in 2027.
In a Sept 4 release, CBRE noted that the properties are located along a pedestrian thoroughfare linking the MRT interchange, transport hub, retail malls and surrounding office developments. Their location positions them to benefit from daily footfall generated by commuters, residents and office workers.
“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%,” said Clemence Lee, executive director of capital markets in Singapore at CBRE.
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He added that coffeeshop assets, particularly those located along high-traffic corridors, are among Singapore’s most “exclusive asset classes”. Of the approximately 8,500 privately held HDB shophouses nationwide, only 402 are approved for coffeeshop use.
The EOI exercise closes on Oct 8 at 3pm.
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