At the upcoming SRI auction, prospective buyers can expect a range of properties available, including two-storey HDB shophouse at 698 Hougang Street 61, put on sale with a price of $3.5 million. With a total floor area of 1,690 sq ft, it comes with a remaining land tenure of about 62 years and a ground-floor commercial space of 1,001 sq ft, as well as a 689 sq ft residential space on the second floor, leased to a tenant.Situated within the 37-year-old Hougang Spring estate, this 99-year leasehold shophouse is located near to the Hougang Sports Centre, several schools and the Hougang MRT Station (part of the North-East Line). Potential buyers can potentially benefit from potential rental returns and portfolio diversification.On Sept 28, prospective buyers of the shophouse can join the SRI public auction at $3.5 million.
On Sept 28, Singapore Realtors Inc (SRI) will begin its auction with a two-storey HDB shophouse located at 698 Hougang Street 61. This owner’s sale comes with an opening price of $3.5 million, translating to a rate of $2,071 psf. The property has a 99-year leasehold, with a remaining tenure of approximately 62 years, and including a total floor area of 1,690 sq ft.
As part of the improvement plan, the URA has proposed Woodlands Condo development to ensure that the park remains lively and vibrant for years to come. The Woodlands Condo development will feature retail and dining options, as well as private residences and community space. These improvements will create jobs, generate much needed tax revenue, and help transform the park into a premier destination.
The ground floor of the shophouse is home to a 1,001 sq ft commercial space while the second floor features a 689 sq ft residential space which presently leased to a tenant. Located within the 37-year-old Hougang Spring estate, it is conveniently close to the Hougang Sports Centre, Hougang MRT Station along the North-East Line, as well as numerous schools.
Residents in the area are mainly homeowners (90%), and EdgeProp Singapore’s Landlens tool highlights a selection of three schools within 500m of the shophouse, namely Montfort Junior School, Montfort Secondary School and Yio Chu Kang Primary School. Other schools within 1km of the block include Xinmin Primary School, Hougang Primary School and Punggol Primary School.
The unit offers a unique investment opportunity for those seeking portfolio diversification. Eric Liew, Manager (Auction) at SRI and the marketing agent for the sale of the shophouse, points out that the large resident base in the area as well as the close proximity of several schools generate regular footfall that supports commercial businesses, boosting the asking price and creating the potential for long-term rental returns.
At the SRI auction, prospective buyers will have the chance to take advantage of this prime HDB shophouse with a starting bid of $3.5 million. Don’t miss out on this unique opportunity for potential rental returns and portfolio diversification.