SRI’s next auction on Feb 26 will feature a two-storey shophouse located at 214 Serangoon Avenue 4, with a total floor area of 1,668 sq ft. This 99-year leasehold HDB property comes with living quarters on the second floor and is listed with a guide price of $1.98 million, or $1,187 psf based on its floor area.
This is the second time the shophouse is being put up for auction by SRI, after it failed to find a buyer in the previous auction with a higher guide price of $2.08 million.
The property is currently tenanted and generating a gross rental yield of about 6.2% based on the guide price, says Jansen Kee, assistant manager of auctions at SRI. The lease will be transferred to the new owner upon purchase, providing immediate rental income until 2026.
Kee also highlights that the guide price for the HDB shophouse is one of the most attractive in the area, making it a sought-after investment for both investors and owner-occupiers.
Based on URA records, the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse along Lichfield Road in November 2024. The 2,319 sq ft property fetched $4 million, or $1,725 psf.
Located within a cluster of HDB flats at the border of Serangoon Gardens landed residential estate, the shophouse directly faces Serangoon Swimming Complex and Sports Centre, providing a steady flow of foot traffic. There are also carpark lots available behind the shophouse.