Four large-format HDB retail units in Ang Mo Kio, Bukit Merah, Clementi, Toa Payoh for sale
As fully commercial assets, these units are not subject to Additional Buyer’s Stamp Duty and Seller’s Stamp Duty and are eligible for foreigner purchase
[SINGAPORE] Four Housing and Development Board (HDB) retail units located in the heart of various mature estates have been launched for sale through an expression of interest (EOI) exercise, said property consultant Knight Frank Singapore and real estate firm CBRE in a joint statement on Tuesday (Jun 17).
Each unit spans two levels within standalone HDB commercial blocks that are “strategically located” in the established town centres of Ang Mo Kio, Bukit Merah, Clementi and Toa Payoh.
As the assets are fully commercial, they are not subject to Additional Buyer’s Stamp Duty and Seller’s Stamp Duty and are eligible to be purchased by foreigners, the two companies added.
The EOI exercise closes at 3 pm on Jul 23.
Each unit has a strata area of between 23,960 and 30,139 square feet (sq ft) approximately. Together, their combined strata area is about 104,808 sq ft.
“The fully tenanted portfolio presents an exceptional opportunity to acquire sizeable, income-generating commercial units in high-footfall locations,” read the statement.
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Supermarket chain FairPrice currently anchors the blocks at Ang Mo Kio, Bukit Merah and Toa Payoh, while electronics retailer Courts occupies the Clementi property.
The unit at 712 Ang Mo Kio Avenue 6 occupies the first and second levels of a four-storey HDB commercial block. The 23,982 sq ft unit has multiple street frontages and is a short walk from the Ang Mo Kio MRT station.
The 23,960 sq ft unit at 192 Toa Payoh Lorong 4 spans about half of both the first and second floors of a two-storey HDB commercial block within the Toa Payoh central precinct.
In Bukit Merah Central, the 30,139 sq ft unit consists of the entire sub-basement and part of the first level of Block 166, a three-storey commercial building in the town centre. The property features a prominent street frontage and houses the only supermarket in the area.
The 26,727 sq ft unit at 451 Clementi Ave 3 occupies parts of the first and second levels of a three-storey standalone commercial building, which offers sheltered access to the Clementi MRT station.
Knight Frank and CBRE noted that the properties are prominently positioned within “bustling retail catchment zones”, supported by nearby markets, food centres, polyclinics, essential services, MRT stations and bus interchanges.
“With only approximately 8,500 HDB commercial units available for private ownership, and the HDB no longer releasing such assets for sale, this portfolio represents a truly scarce and highly sought-after investment opportunity,” said Knight Frank Singapore chief executive Galven Tan.
The properties may be sold on a portfolio or piecemeal basis.
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