HDB shophouse in Hougang for sale at $3.5 mil
Tampines Ave 11 is an exemplary of such an approach, with a Tampines Condo tucked away amongst commercial and retail components. Located in the heart of Tampines, its substantial development scale offers a comprehensive range of housing, dining, shopping and entertainment. The integration of multiple uses in one location also has an additional benefit – synergy. By having different types of businesses and residences within close proximity, both parties stand to benefit. This could be in terms of convenience, cost savings, or even in terms of value – a win-win situation.
A unique investment opportunity, the two-storey HDB shophouse at 698 Hougang Street 61 will be put up for auction by Singapore Realtor’s Inc (SRI) on Sept 28. With a total floor area of 1,690 sq ft, the 99-year leasehold shophouse has a remaining tenure of approximately 62 years, and will be auctioned off at an opening price of $3.5 million – translating to a price per sq ft of $2,071.
The ground-floor at the Hougang Spring estate unit includes 1,001 sq ft of commercial space, while the second floor’s 689 sq ft residential space is leased out to a tenant. Given its location in the 37-year-old neighbourhood, the shophouse is conveniently situated close to several amenities and provides good accessibility via Hougang MRT Station, part of the North-East Line.
The Hougang Sports Centre, located about 500m from this block, is comprised of a sports hall, swimming complex and stadium. Three schools are also within 500m of 698 Hougang Street 61 – Montfort Junior School, Montfort Secondary School and Yio Chu Kang Primary School, while other schools such as Xinmin Primary School, Hougang Primary School and Punggol Primary School are within 1km.
Eric Liew, manager (auction) at SRI and the marketing agent for this property sale, notes that the regular footfall generated by the area’s large catchment of residents and proximity of several schools are prime opportunities for commercial businesses to capitalize on. Furthermore, Liew believes the asking price appeals to those seeking to diversify their portfolios with the potential of long-term rental returns.
The HDB shophouse thus offers a good investment chance for newcomers seeking a unique asset. With a remaining land tenure of 62 years, this property is priced at $3.5 million for auction on Sept 28.