In a notable real estate development in Singapore, a unique investment opportunity has arisen with the listing of a ground-floor HDB shop and a two-storey shophouse in the heart of Toa Payoh. Priced at $40 million, these properties are offered collectively by the Lew Foundation, known for its philanthropic efforts.
The first property, located at 190 Lorong 6 Toa Payoh, is a prominent commercial unit boasting a gross floor area of approximately 6,039 sq ft. Its advantageous position between HDB Hub and Toa Payoh Central provides excellent visibility and access to foot traffic. Currently leased to various food and beauty enterprises, this space ensures immediate rental income for prospective buyers.
As noted by Cushman & Wakefield (C&W), the marketing agent handling this sale, the combined gross floor area of the two properties totals around 7,384 sq ft, equating to an average price per square foot of approximately $5,417. This appealing valuation reflects not only the income-generating potential but also highlights the scarcity of large-format HDB commercial units available in this sought-after district.
Investment Appeal
Acquiring both properties presents an attractive proposition due to their existing tenancies; they come with established businesses already in place. The commercial unit at Lorong 6 has a remaining lease term of 45 years and benefits from being exempt from Additional Buyer’s Stamp Duty (ABSD) or Sellers’ Stamp Duty (SSD). This makes it accessible not only to local investors but also to foreign buyers and corporate entities.
Shophouse Features
The second property on offer is a charming two-storey shophouse situated at 178 Toa Payoh Central. Encompassing around 1,345 sq ft, this shophouse features commercial space on its ground level while providing living quarters above. Presently occupied by a medical clinic on the lower floor, it has roughly 44 years left on its lease, adding to its appeal as an ongoing investment opportunity.
Strategic Location
Both properties benefit from their proximity to key amenities including shopping malls and essential services within Toa Payoh Central. Their close location to the Toa Payoh MRT station enhances accessibility for customers and tenants alike. The area’s vibrant atmosphere ensures consistent footfall throughout the day.
This listing stands out in light of recent market trends where several HDB shops have been brought to market; however, few offer both significant ground-floor presence along with direct connectivity to public transportation hubs. As such opportunities become increasingly rare within prime locations like Toa Payoh Central, demand is likely to be robust among investors looking for lucrative commercial assets.
Future Developments
The future looks promising for this locale with upcoming developments prompting growth in activity levels. The anticipated Toa Payoh Integrated Development set to open by 2030 will introduce new facilities including a stadium and aquatic center that will further enhance community engagement.
Conclusion
With strategic positioning and existing leases ensuring immediate returns, these properties represent a compelling investment opportunity within Singapore’s competitive real estate landscape. As urban development continues in areas like Toa Payoh Central—home to numerous amenities—the time may be ripe for interested investors looking for strong performers in their portfolio.
Source: Original Article
