/Huttons Asia

Four single-storey HDB shophouses in Tampines on sale for $12m

The property is up for sale until 17 May.

A portfolio of four single-storey HDB shophouses located at Blk 475 Tampines Street 44 is up for sale with a guide price of $12m, Huttons Asia declared.

In a statement, the marketing agency said the property will be up for sale through an expression of interest exercise until 17 May at 3 pm.

Another benefit of this property is that it is within walking distance of the Tampines East Downtown Line station. 

The shophouses have a balance lease of almost seven decades. Two of the units are corner shops and all 4 units are tenanted to established tenants with high returns.

“There is high human traffic throughout the day from residents to students from surrounding schools. There is ample parking in the area for patrons. Footfall to the shops is likely to increase when more residential homes are built on the empty parcels of land in the vicinity,” said Rey Song, senior division director of Huttons Asia.

“HDB shophouses are more affordable than conservation shophouses and are highly sought after by investors over the past two to three years due to the Additional Buyer’s Stamp Duty payable for residential properties. The rental demand is consistent and there is potential for capital appreciation,” added Jeremy Lim, Senior Group District Director of Huttons Asia Pte Ltd.

Lee Sze Teck, Senior Director of Research at Huttons Asia, said shophouses are not subjected to government cooling measures such as ABSD and SSD. Supply is also limited as there are only 8,500 HDB shophouses that can be resold in the market. 

“It should see healthy interest from investors,” said Lee.

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