Hdb Shophouse Serangoon Ave 4 Going 198 Mil
A 99-year leasehold HDB shophouse at 214 Serangoon Avenue 4 will be up for auction by SRI on Feb 26. With a total floor area of about 1,668 sq ft, the two-storey shophouse also comes with living quarters on the second floor. The property is listed for a guide price of $1.98 million, translating to a price per square foot of $1,187.
This is the second time the shophouse will be at SRI’s auction, following an unsuccessful attempt last month with a higher guide price of $2.08 million.
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According to Jansen Kee, assistant manager of auctions at SRI, the shophouse enjoys high visibility as it is situated in front of a bus stop.
The property is currently tenanted and is generating a gross rental yield of about 6.2% based on the guide price, says Kee. He also notes that the shophouse will be sold with its existing lease, which ends in 2026. This means that the new owner will have a steady stream of rental income.
Kee adds that the guide price for the HDB shophouse is one of the lowest for this type of property in the area, making it an attractive option for both investors and owner-occupiers.
In Serangoon, the recent commercial shophouse transaction was the sale of a 999-year leasehold property at Lichfield Road, which was sold for $4 million ($1,725 psf) in November 2014. This two-storey shophouse sits on a land area of 2,319 sq ft.
The HDB shophouse up for auction is located within a cluster of HDB flats, right next to the Serangoon Gardens landed residential estate. It is also directly opposite Serangoon Swimming Complex and Serangoon Sports Centre, which ensures a consistent flow of foot traffic in the area. There is a carpark behind the shophouse that provides ample parking spaces.
In conclusion, the HDB shophouse at 214 Serangoon Avenue 4 is an attractive investment opportunity with a good rental yield and an excellent location. With its existing lease until 2026, the new owner can enjoy immediate rental income, making it a valuable asset for both investors and owner-occupiers.