A portfolio of six HDB shophouse units in Toa Payoh, Ang Mo Kio and Tanjong Pagar is up for sale via private treaty with a collective guide price of $73 million. The shophouses can be purchased individually or as a portfolio, says marketing agent Savills Singapore in a May 14 press release.
Source: Savills Singapore
One of the six shophouse units in the portfolio is located at 190 Toa Payoh Lorong 6. The ground-floor unit has a guide price of $12 million or $11,617 psf on the estimated floor area of 1,033 sq ft. The property is located in Toa Payoh Town Centre and has sheltered access to the Toa Payoh MRT Station and Bus Interchange. The unit is currently subdivided into three units that are fully leased.
The shophouse unit at 190 Toa Payoh Lorong 6 (Picture: Savills Singapore)
Two of the shophouses in the portfolio are located at 702 and 705 Ang Mo Kio Avenue 8, next to the Ang Mo Kio Bus Interchange and AMK Hub. The latter is connected to the Ang Mo Kio MRT Station via an underpass. Both shophouses span across two levels and have residential quarters on the upper floors.
The unit at 702 Ang Mo Kio Avenue 8 measures about 4,037 sq ft and has a guide price of $36 million or $8,918 psf. The unit at 705 Ang Mo Kio Avenue 8 is priced at $10 million or $6,072 psf on the 1,647 sq ft lot area.
The shophouse unit at 705 Ang Mo Kio Avenue 8 (Picture: Savills Singapore)
The remaining three shophouse units for sale are located at Tanjong Pagar Plaza, a mixed-use development about a five-minute walk from the Tanjong Pagar MRT Station. The units are on the ground floor, with frontage along Tanjong Pagar Road. Two units measure 603 sq ft and are priced at $5 million each or $8,292 psf. The other unit, also priced at $5 million, spans 764 sq ft, which means the price works out to $6,545 psf.
The shophouse units at Tanjong Pagar Plaza (Picture: Savills Singapore)
According to Nick Chan, associate director of investment sales and capital markets at Savills Singapore, each unit in the portfolio offers a gross yield of about 4%. They also offer further upside potential through rental reversion or further subdivision of space to drive rental income. “This portfolio provides investors with an immediate income-generating opportunity across three established and highly sought-after mature residential estates,” he adds.
