SINGAPORE (EDGEPROP) - A shophouse along Bedok North Street 1 and another shophouse in Toa Payoh Central hub are on the market for $7.5 million. Savills Singapore is the sole marketing agent for these properties which will be offered for sale in an expression of interest (EOI) exercise.
Both shophouses operate as commercial units on the ground floor with residential quarters on the second floor. They are fully leased and can provide the new owner ready rental income. AS these HDB shophouses as classified as commercial properties, foreigners and companies are eligible to purchase them. (See: Find Singapore commercial properties with our commercial directory)
The shophouse along Bedok North Street 1 enjoys a prominent street level frontage along the mains road. The commercial component is leased to a jeweller cum optician business. The property is within Bedok’s main town centre and is close to Bedok MRT station.
The second shophouse is in Toa Payoh Central hub and is a close to Toa Payoh MRT station. It is leased to a licensed money lender and a beauty salon.
Heartland businesses have been resilient amid the economic disruptions of the pandemic, especially in dense housing estates such as Bedok and Toa Payoh, says Yap Hui Yee, director, investment sales & capital markets at Savills Singapore.
She adds: “Due to changes in consumer demand, the retail performance in heartlands have been resilient through the pandemic and many investors have shifted their focus to this suburban shophouses which are rare and limited in supply.”
The EOI exercise for the sale of these two shophouses will close on Oct 14.