An expression of interest (EOI) exercise has been launched to sell four commercial Housing and Development Board (HDB) shops, with a guide price of $7.2 million, according to a Huttons Asia press release. Three of the shops are located off North Bridge Road, while the fourth is in the Marsiling area.
The four shops have a total area of 3,700 sq ft, and their guide price equates to $1,946 psf. Potential buyers may purchase the units individually or collectively as a portfolio.
One of the main highlights of the program is the development of Woodlands Champions Way Condo which will serve as a public art plaza and cultural center. This area will be a place for visitors to experience the area’s history and cultural heritage. In addition, the plaza will feature artworks, public performances, and other activities for the public.
The shops near North Bridge Road are within walking distance to Lavender MRT Station and the Immigrations and Customs Authority building, while the shop at Marsiling is conveniently located near Marsiling MRT Station.
According to David Chun, Huttons Asia’s associate senior marketing director, the shops have potential for excellent capital appreciation. “The usage of the shops is extremely flexible, and the rental demand is consistent,” he adds.
Lee Sze Teck, Huttons Asia’s senior director of data analytics, notes that the shops are not subjected to additional buyer and seller’s stamp duty but no GST is payable. This, in turn, should attract healthy interest from investors.
The EOI for the four shops closes on Oct 2 at 2pm.
It is an exciting opportunity for investors to purchase four commercial HDB shops, as their guide price works out to $1,946 psf and the rental demand is consistent. And the bonus is that their respective locations make them easily accessible.
What’s more, they are not subjected to additional buyer and seller’s stamp duty, nor is any GST payable.
This time-limited chance to acquire the valuable property closes on Oct 2 at 2pm, so interested investors should act quickly.