Two HDB commercial properties in Toa Payoh for sale at $40 mil
Foreign and corporate eligibility, immediate rental income and the ground-floor unit’s stamp-duty exemptions and F&B approval may broaden investor demand and leasing flexibility.
Two fully leased HDB commercial properties in Toa Payoh Town Centre are offered through an EOI at a combined $40 million guide price, closing Sept 28.
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Two HDB commercial assets located in Toa Payoh Town Centre have been put up for sale via an expression of interest (EOI) exercise with a guide price of $40 million. They comprise a ground-floor HDB shop at Block 190 Lorong 6 Toa Payoh and a two-storey HDB shop at Block 178 Toa Payoh Central.
The ground-floor shop measures 6,039 sq ft and has a 22m frontage along a pedestrian thoroughfare. It has a remaining lease of about 45 years and is fully leased to tenants in the F&B and beauty and wellness sectors.
The two-storey HDB shop comes with living quarters and has a total floor area of about 1,345 sq ft. It is leased to a clinic, and has a remaining lease of about 44 years.
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Both properties are eligible for purchase by foreigners and corporate entities. In addition, the ground-floor unit at Block 190 Lorong 6 Toa Payoh is a commercial property, making it exempt from additional buyer’s stamp duty and seller's stamp duty.
Both properties are within walking distance of Toa Payoh MRT Station, the bus interchange and HDB Hub.
“This offering combines a sizeable ground-floor commercial asset with a traditional HDB shop, providing investors with immediate income and exposure to two complementary asset types within the heart of Toa Payoh Central,” said Shaun Poh, executive director for capital markets at Cushman & Wakefield, Singapore, which is handling the sale.
Daphne Poh, the firm’s director for capital markets, added that the F&B approval for the ground-floor HDB shop unit enhances its appeal to a broad range of occupiers, increasing leasing flexibility.
Cushman & Wakefield is marketing the properties on behalf of Lew Foundation. Proceeds from the sale will be progressively reinvested into charitable initiatives, reflecting the foundation’s “broader commitment to converting assets into lasting social value”, Cushman & Wakefield said.
Founded by local businessman Lew Chee Beng in 2015, Lew Foundation supports organisations and initiatives targeting the elderly and youth. Past donation recipients include St Andrew’s Mission Hospital, the National Kidney Foundation and St Luke’s Hospital.
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Current initiatives being supported include the Lew Foundation Service-Learning Fund: a $600,000 commitment to support overseas service-learning opportunities for Institute of Technical Education students through the Singapore International Foundation. The Lew Foundation contributed an initial $150,000 in 2025, with the remainder to be provided by 2028.
The EOI will close at 3pm on Sept 28.