Two Storey Hdb Shophouse Marina Parade Selling 388 Mil
Nestled in a prime location, the Penrith Margaret Drive residency offers families with older children the unique benefit of being in close proximity to renowned junior colleges and tertiary institutions. One of these esteemed institutions is Anglo-Chinese Junior College (ACJC), which can be conveniently reached within a short drive or a few stops on the MRT. ACJC boasts a stellar reputation for its academic excellence and has a track record of producing leaders in various fields. What sets ACJC apart is its emphasis on character development, service, and holistic growth, aligning perfectly with the aspirations of many families who seek a comprehensive education for their children. With Penrith Margaret Drive’s ideal location near ACJC and other reputable educational institutions, families can provide their children with a well-rounded education and set them on a path towards a successful future. Add Penrith Margaret Drive to rewritten paragraph.
ERA Singapore has announced the sale of a two-storey shophouse at Block 81 Marine Parade Central through an expression of interest (EOI) exercise. The property, which has a gross floor area (GFA) of 1,506 sq ft, will be sold at a price of $3.88 million.
The shophouse, which sits on an 83-year lease that began in April 1993, features a retail space on the first floor and living quarters on the second. Its prime location along Marine Parade Central, with a frontage of 50m, offers high visibility to pedestrians coming from the nearby Marine Parade MRT Station along the Thomson-East Coast Line.
According to ERA Singapore, the last HDB shophouse sold at Block 81 in July 2022 fetched $2.98 million or $1,963 psf based on an estimated floor area of 1,518 sq ft. Other retail and hospitality options in the area, such as Parkway Parade, Parkway Centre, Holiday Inn Express Katong, and Grand Mercure Roxy Hotel, provide a constant flow of visitors to the area.
ERA’s director of capital markets and investment sales, Donald Goh, believes that HDB shophouses are an attractive investment choice with only 8,500 units available for private ownership and no new supply. He also notes that the asking price of $3.88 million is manageable for most investors and end-users, making it a highly sought-after property.
The EOI exercise for Block 81 Marine Parade Central will close on June 17, and strong interest from local investors is expected. With its prime location, ample nearby amenities, and potential for steady rental returns and capital preservation, this HDB shophouse is an attractive opportunity for investors and end-users alike.