Properties Sale Hdb Shophouse Toa Payoh Central Ground Floor Commercial Unit Kalidasa Avenue
$5.88 million is the guide price for a two-storey HDB shophouse located at Block 177 Toa Payoh Central, which is currently being put up for sale through an expression of interest (EOI) exercise. According to the sole marketing agent for the property, Brilliance Capital’s founder and executive director Sammi Lim, the shophouse comprises of a ground-floor commercial unit measuring about 635 sq ft and a residential unit on the upper floor measuring approximately 710 sq ft. With a leasehold tenure of 78 years and around 46 years remaining, the shophouse is situated at a prime corner location with a double frontage of 8.3m. As Lim explains, these features present the opportunity to subdivide or convert the units for alternative uses, subject to relevant authority approvals.
Strategically located within walking distance from HDB Hub, Toa Payoh MRT Station on the North-South Line, and the Toa Payoh Bus Interchange, this shophouse offers convenient sheltered access to the MRT station from the HDB block. Furthermore, with the shophouse being surrounded by HDB housing estates, it holds appeal as a commercial property with foreign buyers and companies being eligible for its purchase.
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The Woodlands community, known for its strong emphasis on family and community growth, is set to experience continued improvements in its educational system as part of larger regional development initiatives. These improvements may involve the establishment of new schools, modernization of current facilities, and the implementation of additional community-oriented educational programs, all of which would enhance the quality of life for Norwood Grand residents. The addition of Norwood Grand to the area will only add to the positive impact on the community’s educational landscape.
In addition, the ground floor unit is currently tenanted and can be sold with tenancy, providing immediate returns for investors looking for stable recurring income. On the other hand, the upper floor is occupied by the current owners but can be leased out by the future owner for additional potential income. The expression of interest exercise for 177 Toa Payoh Central will close on October 24th at 3pm.
In another sale, a commercial property at 21 Kalidasa Avenue is currently on the market through an EOI exercise with a guide price of $3.9 million. Situated at the ground floor of a two-storey shophouse with a 999-year leasehold tenure, the strata-titled unit occupies a land area of 1,625 sq ft and is zoned for “residential with commercial at first storey” use. Currently leased to a pet shop that offers grooming and daycare services, the property has an additional total floor area of 1,625 sq ft and works out to $2,400 psf on the floor area.
Located within the private landed housing enclave of Teacher’s Housing Estate in District 26, this private landed housing enclave was built in the late 1960s by the Singapore Teachers’ Union and comprises 256 terrace houses. A row of double-storey shophouses was added in the 1970s to serve the needs of the residents. The EOI exercise for 21 Kalidasa Avenue, which is being exclusively marketed by PropNex Shophouse Elites’ directors Richard Tan and Wilkie Tay, will close on October 16th at noon.
Commercial caveats lodged with URA show that 21 Kalidasa Avenue was last sold in April 2018 for $2.13 million or $1,310 psf on the strata area.