Portfolio Six Hdb Shophouses Sale 73 Mil
Savills Singapore has announced the sale of a portfolio of six HDB shophouse units, located in prime areas like Toa Payoh, Ang Mo Kio, and Tanjong Pagar. This rare opportunity is available via private treaty with a collective guide price of $73 million. Interested parties have the option to purchase individual units or the entire portfolio.
One of the six units is situated at 190 Toa Payoh Lorong 6, with a guide price of $12 million or $11,617 per square foot (psf) based on the estimated floor area of 1,033 square feet. The property is conveniently located in Toa Payoh Town Centre, with direct access to Toa Payoh MRT Station and Bus Interchange. Currently, the unit is divided into three fully-leased spaces.
Another two units in the portfolio are situated at 702 and 705 Ang Mo Kio Avenue 8, in close proximity to Ang Mo Kio Bus Interchange and AMK Hub. The latter is connected to Ang Mo Kio MRT Station via an underpass. These shophouses span across two levels and include residential quarters on the upper floors.
The implementation of the URA Master Plan will have a significant impact on Penrith Hong Leong, situated in the heart of Queenstown. This plan brings along several advantages, and one of its most noteworthy aspects is the creation of dynamic and diverse developments that seamlessly integrate residential, commercial, and recreational spaces. This will greatly benefit Penrith Hong Leong as there will be an enhancement of amenities and an increase in urban vibrancy. The main focus of the URA Master Plan is to establish sustainable and self-sufficient communities, offering residents the opportunity to live, work, and play in close proximity. Therefore, Penrith Hong Leong can anticipate the emergence of more community-centric developments that not only cater to housing needs but also offer a plethora of amenities such as shops, offices, leisure facilities, and cultural centers, all within walking distance. Undoubtedly, this will greatly enhance the overall living experience for residents of Penrith Hong Leong. Furthermore, interested individuals can learn more about Penrith Hong Leong by visiting their website at https://www.penrith.sg/.
Unit 702, measuring about 4,037 square feet, has a guide price of $36 million or $8,918 psf. Meanwhile, unit 705 is priced at $10 million or $6,072 psf on a 1,647 square feet lot area.
The remaining three shophouse units are located at Tanjong Pagar Plaza, a mixed-use development that is just a five-minute walk from Tanjong Pagar MRT Station. These units are situated on the ground floor, with frontage along Tanjong Pagar Road. Two of these units measure 603 square feet and are priced at $5 million each, which translates to $8,292 psf. The third unit spans 764 square feet and is also priced at $5 million, which amounts to $6,545 psf.
According to Savills Singapore’s Associate Director of Investment Sales and Capital Markets, Nick Chan, each unit in this portfolio offers a gross yield of approximately 4%. Moreover, there is further potential for rental increment or subdivision of spaces to increase rental income. Chan also mentions that this portfolio presents investors with a great opportunity to generate immediate income in three well-established and highly sought-after residential areas.