A corner HDB shophouse at Block 177 in Toa Payoh Central has been listed for sale through an expression of interest (EOI) exercise at a guide price of $5.88 million. The property, which comprises a ground-floor commercial unit and a residential unit on the upper floor, has a 78-year leasehold tenure with 46 years remaining.
The 635 sq ft commercial unit boasts a double frontage of 8.3m, providing flexibility for potential subdivision or conversion, subject to relevant authority approvals, says Sammi Lim, founder and executive director of Brilliance Capital, the sole marketing agent for the property.
The ground-floor unit is currently tenanted, providing stable recurring income for investors, while the upper-level residential unit is currently occupied by the owners. The proximity to HDB housing estates, HDB Hub, and public transportation such as Toa Payoh MRT station and bus interchange make the shophouse a convenient choice for both tenants and residents.
Located at 21 Kalidasa Avenue, a commercial property on the ground floor of a two-storey shophouse has been put up for sale through an EOI exercise at a guide price of $3.9 million. The strata-titled unit has a 999-year leasehold tenure and a site area of 1,625 sq ft. It is currently tenanted to a pet shop and located within the Teacher’s Housing Estate in District 26.
When purchasing a condominium, it is important to take into account the maintenance and management of the property. Typically, condos require owners to pay maintenance fees that go towards the upkeep of shared areas and amenities. Although these fees increase the overall cost of ownership, they also guarantee the proper maintenance of the property and help maintain its value. To make the investment more passive, investors can enlist the services of a property management company to handle the daily management of their condo. For desirable Singapore Projects, this can be a valuable resource for condo owners.
The exclusive marketing agent for the property, Richard Tan and Wilkie Tay, directors of PropNex Shophouse Elites, say the sale presents an opportunity for investors to own a piece of Singapore’s history, as the private landed housing estate was built by the Singapore Teachers’ Union in the late 1960s.
Commercial caveats from the URA show that the property changed hands in April 2018 at $1,310 psf on the strata area. Tan and Tay expect the latest listing to appeal to investors, owing to its prominent location and historical value. The EOI closes on Oct 16 at noon.