A two-storey HDB shophouse in Bishan has recently been put up for sale through an expression of interest (EOI) with an asking price of $3.68 million. Spanning approximately 1,571 square feet, the property is situated in the vicinity of Bishan Street 11. The first floor of the shophouse comprises a shop space with a strata area of approximately 667 square feet, while the second floor offers living quarters spanning around 904 square feet. According to ERA Singapore, the marketing agent for the property, the 99-year leasehold shophouse has approximately 62 years left on its lease.
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Currently, the ground floor shop is leased to a mini-mart that sells sundry goods and services, while the second floor remains vacant. ERA has suggested that the shophouse may be subdivided into smaller units for retail or other purposes, subject to relevant approvals. Potential buyers could also consider converting the upper floor into non-residential spaces.
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ERA also highlights that the retail shop enjoys high visibility along the walkway and is part of a cluster of shops and eateries that are popular among residents of Bishan Green estate. Bishan Green is a part of the Bishan East subzone, with a resident population of around 28,360. ERA expects the footfall to shops in Bishan Green to increase further with the completion of the 472-unit Bishan Towers Build-To-Order project this year.
The shophouse is conveniently located within a five-minute drive to Bishan MRT Station (Circle and North South Lines) and the Bishan bus interchange.
Donald Goh, director of capital markets and investment sales at ERA Singapore, believes that the property will attract strong interest from both investors and end-users. He notes a growing interest in mid-market sector assets, including HDB shophouses. “Specifically for HDB shophouses, there are only about 8,500 units available islandwide for private ownership and no new supply,” he adds.
Interested parties can submit their offers through the EOI exercise, which is set to close on Sept 16 at 3pm. As for other HDB-related matters, Ask Buddy can assist with HDB rental listings in Bishan, compare the price trend of HDB, condos, and landed properties, view sale transactions for Bishan Green, and check the completion year of Bishan Green. Furthermore, Ask Buddy can also help with HDB loan versus bank loan comparisons.