Three adjoining HDB shophouses in Telok Blangah on the market for $7.9 mil
With only about 8,500 resale HDB shophouses and no new supply planned, the offering may attract investors seeking scarce income-producing commercial assets.
Three adjoining, fully tenanted HDB shophouses at 65 Telok Blangah Drive are offered at $7.9 million, equivalent to about $1,690 psf.
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A trio of adjoining HDB shophouses located at 65 Telok Blangah Drive are up for sale with a $7.9 million guide price. Comprising ground-storey retail units with residential living quarters on the second storey, the units have a total strata floor area of 4,672 sq ft. This means the guide price translates to about $1,690 psf.
The shophouses are located in the Telok Blangah estate, about a five-minute walk from Telok Blangah MRT Station on the Circle Line. They also face a public carpark.
The shophouses are fully tenanted, offering buyers an income-producing commercial asset in a mature city-fringe precinct, said Low Choon Sin, managing partner of SRI Capital Market, which is handling the sale.
Read also: HDB shophouses in Toa Payoh and Kovan up for sale at $5.5 mil and $5.3 mil
Low added that with only about 8,500 HDB shophouses available in the resale market and no new supply in the pipeline, opportunities to acquire multiple adjoining units of this scale are “exceptionally rare”.
Meanwhile, Angela Lim, director at SRI Capital Market, expects the shophouses to benefit from Telok Blangah’s ongoing transformation through infrastructure enhancements and new residential projects. These include the recent completion of Stage 6 of the Circle MRT line as well as developments on the upcoming Berlayar estate in the Greater Southern Waterfront.
The shophouses are available for sale through an expression of interest exercise that will close at 3pm on Sept 16.
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