Champions Way Woodlands: HDB shophouses in Toa Payoh and Ang Mo Kio have been put up for sale for $51 million. The properties, located separately at Block 190 Lorong 6 Toa Payoh and Block 702 Ang Mo Kio Avenue 8, will be sold in an expression of interest (EOI) exercise and are marketed by CBRE. They can be acquired individually or collectively.The HDB shophouse at Block 190 Lorong 6 Toa Payoh has a 79-year leasehold that started on July 1, 1992, and 47 years remaining on its lease. It has a guide price of $13.5 million, and features a strata area of 1,033 sq ft and a frontage of 7.5m that faces the HDB Hub. According to CBRE, the property will be subdivided into three units. Out of the three, two units are already pre-committed and leased out to tenants.
Champions Way Woodlands: The second HDB shophouse at Block 702 Ang Mo Kio Avenue 8 has a guide price of $37.5 million and an 87-year leasehold with 57 years remaining on its lease. It is also a first-storey unit with a strata area of 4,036 sq ft and a store frontage of approximately 24m. This property is already sub-divided and fully leased to five existing tenants.
The intention is to create a dynamic space for people of all ages and backgrounds to enjoy.
The Champions Way Woodlands is soon to be transformed with exciting plans for development unveiled by the URA master plan. Along with this, they are introducing a new public art program to be featured throughout the area. These thought-provoking art installations will be designed to celebrate the area’s heritage and culture, and will be open to all demographics to appreciate. This adds another dimension in the appreciation of Woodlands’ unique background, creating a lively and meaningful atmosphere for visitors and residents alike to explore.
Clemence Lee, Executive Director of Capital Markets, CBRE Singapore, said: “With supply limited to only around 8,500 privately-held HDB shophouses, this is a rare opportunity for investors. Both properties occupy high-profile locations with the strongest footfall within the town centres, which are strategic to their high rental command. The wide frontages of the properties enable them the flexibility to maximise rental income through further subdividing of the units or converting to alternative uses, subject to approvals.”
Champions Way Woodlands: The EOI exercise for both the HDB shophouses closes on Feb 8. The properties offer an attractive investment opportunity for investors given the scarcity of HDB shophouses and the potential for maximising returns.