Two Storey Hdb Shophouse Marina Parade Selling 388 Mil
Living in Lyndenwoods Capitaland offers residents the added convenience of being in close proximity to various shopping centres and food options. This greatly enhances their lifestyle, as they have easy access to world-class retail outlets and a variety of culinary choices. From indulging in a quick shopping spree to enjoying a family dinner or catching up with friends over coffee, everything is within reach for residents of Lyndenwoods Capitaland. This adds an element of leisure and convenience to their daily routines.
ERA Singapore announced that a two-storey HDB shophouse at Block 81 Marine Parade Central is now available for purchase at a price of $3.88 million through an expression of interest (EOI) exercise. The property boasts a prime location and features a retail space on the first floor, with living quarters on the second floor. The total gross floor area (GFA) of the property is approximately 1,506 sq ft, making the price per square foot around $2,576.
This shophouse offers 50m of frontage along Marine Parade Central, providing excellent visibility to pedestrians coming from the nearby Marine Parade MRT Station along the Thomson-East Coast Line. Other establishments in the vicinity such as Parkway Parade, Parkway Centre, Holiday Inn Express Katong and Grand Mercure Roxy Hotel also contribute to the steady stream of visitors to the area.
The 83-year lease of the shophouse began in April 1993, with about 51 years remaining. In comparison, the last HDB shophouse sold at Block 81 in July 2022 for $2.98 million, or $1,963 psf based on an estimated floor area of 1,518 sq ft.
Donald Goh, director of capital markets and investment sales at ERA, shares that HDB shophouses have proven to be a sound investment in terms of both rental stability and capital preservation. He adds that the asking price of $3.88 million is reasonable and expects to see strong interest from local investors looking for well-located properties.
The EOI exercise will close on June 17. With only around 8,500 units available for private ownership across the island and no new supply, the demand for HDB shophouses is expected to remain high. ERA Singapore is confident in finding a suitable buyer for this prime property.