Two-storey HDB shophouse at Bedok Reservoir hits market again at $3.8 mil
The lower asking price and expected 3.7% net property yield may attract income-focused buyers, potentially supporting transactions in mixed-use HDB shophouses.
A fully leased two-storey HDB shophouse at 631 Bedok Reservoir Road is offered at $3.8 million, down from $4 million in March.
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A two-storey HDB shophouse in the Bedok Reservoir area has been put up for sale via an EOI, with an asking price of $3.8 million.
It was previously put up for sale in March this year, at an asking price of $4 million.
Situated at Blk 631 Bedok Reservoir Road, the property has a total floor area of around 1,636 sq ft. So, the latest guide price works out to $2,323 psf.
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It comprises a ground-floor restaurant of 743 sq ft, and a residential unit on the upper level measuring approximately 893 sq ft.
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The ground-floor space has been approved for F&B usage, with prime frontage along the pedestrian walkway and visibility from the main road. The second floor is accessible via a staircase at the rear of the shophouse.
The property has 55 years left on its 88-year lease, which commenced on Oct 1, 1993.
The entire asset is fully leased, allowing the owner to generate immediate rental income, said ERA Realty, which is marketing the property. Donald Goh, director of capital markets and investment sales at ERA Singapore, notes that the property has an expected net property yield of 3.7%.
He added that there are opportunities for buyers to explore different configurations, such as subdividing the ground-floor retail shop into smaller retail units, subject to approval from authorities.
The EOI exercise will close at 3pm on Oct 15.