REWRITTEN:

The sale of a two-storey HDB shophouse in Marine Parade, Singapore via an expression of interest exercise has been launched with a guide price of $4 million. The property has an 83-year long lease, starting from April 1, 1993, and features a floor area of 1,506 sq ft and a 50m frontage along Marine Parade Central. The fully tenanted second floor living quarters further add to the value of investment.

Donald Goh, director of capital markets and investment sales of ERA Singapore, who is handling the sale of the property, expresses that local investors looking for a well-located property with stable yield and potential for capital appreciation, should look to capitalise on this rare opportunity.

Altura EC Bukit Batok Altura EC is conveniently connected to Singapore via the Bukit Batok MRT Station, buses, and the PIE and BKE expressways.

The Marine Parade area, presently, is seeing an increase in property demand with many prominent projects that are in progress, such as Amber Park, Meyer Mansion, Tembusu Grand and The Continuum. Further, the upcoming Marine Parade MRT station on the Thomson East Coast Line, which is expected to open by 2024, makes the area even more attractive. Amenities in the vicinity include Parkway Parade, Parkway Centre, Holiday Inn Express Katong and Grand Mercure Roxy Hotel.

Total private-owned units available in Singapore is about 8,500, making such HDB shophouses even rarer. This may present a unique opportunity for investors as such properties have demonstrated resilience in rental yield and capital appreciation over time.

ERA has indicated that the expression of interest will close on May 25 at 3pm.