This 88-Year Leasehold HDB Shophouse on Bedok Reservoir Rd Is on Sale for $4M
A two-storey HDB shophouse at 631 Bedok Reservoir Road is on sale for $4 million.
The property features a ground-floor shop unit with a strata area of 743 sq ft, and residential quarters on the second floor that measure 893 sq ft. Access to the second floor is via an internal staircase at the rear of the shophouse.
The asking price translates to about $2,445 psf, based on the combined strata area of 1,636 sq ft. The HDB shophouse also has a 88-year leasehold tenure that started in October 1993, this means it has about 55 years left on its lease.
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The property will be sold in an Expression of Interest (EOI) exercise, and the sale is marketed by ERA Singapore.
The entire two-storey HDB unit is currently fully leased, which the new owner could capitalise on immediate rental income. There is also a possibility of subdividing the ground-floor shop into smaller retail units, subject to approvals, says Donald Goh, director, Capital Markets and Investment Sales of ERA Singapore.
The ground floor of the HDB shophouse is approved for restaurant use, and it enjoys prime frontage and strong visibility along both the pedestrian walkway and the main road. The shophouse is part of a cluster of shops and eateries along Bedok Reservoir Road.
The property also benefits from ample parking options, with both surface lots and multi-storey carparks located within a short walking distance.
This retail and commercial cluster serves most of the nearby residents in Kaki Buit and Bedok Reservoir, which together house a population of over 37,000 households. The property is also close to Telok Kurau Primary School, and Bedok North MRT station on the Downtown Line.
Nearby community facilities, amenities, and places of worship include Eunos Cultural Centre, Eunos Community Club and the Bedok Church of Christ. These contribute to steady footfall in the vicinity.
“Based on our recent successful sales of HDB shophouses, we continue to observe strong interest and healthy demand for this segment from both investors and owner-occupiers,” says Goh.
The EOI for the sale of this HDB shophouses closes on April 7.
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