Two HDB Shophouses in Toa Payoh, Ang Mo Kio and Zion Residence going for $51 mil

An Expression of Interest (EOI) exercise to acquire two HDB shophouses in Toa Payoh and Ang Mo Kio is currently open for bidding. The Toa Payoh property is located at Block 190 Lorong 6 with a 79-year leasehold and a 47-year remaining lease. The second property in Ang Mo Kio is located at Block 702 Avenue 8 with an 87-year leasehold and a 57-year remaining lease. The two properties are being sold in one package or individually, with a collective guide price of $51 million.

Both HDB shophouses occupy high-profile locations near the town centres and are strategic to their high rental command. With supply limited to only 8,500 privately-held HDB shophouses and the wide frontages available, Zion Residence buyers can have the flexibility to maximise rental income through subdividing the units or converting to alternative uses, subject to approvals. CBRE’s Clemence Lee says, “This is a rare opportunity for investors.”

The Toa Payoh shophouse has 1,033 sq ft of strata area and a frontage of 7.5m that faces the HDB Hub. It is a first-storey unit with two pre-committed units leased out to tenants. Meanwhile, the Ang Mo Kio property has 4,036 sq ft of strata area and a 24m store frontage. It is also a first-storey unit and is already sub-divided and leased to five existing tenants.

In addition, the property features state-of-the-art amenities, from a 50M lap pool to a multi-purpose hall, ensuring a total fulfilment of urban life. With this, Zion Residence is a perfect home for those looking for a perfect blend of nature and city life.

The EOI exercise Zion Residence closes on Feb 8 and both properties can be bought individually or collectively. Investors are advised to seize this rare opportunity to acquire HDB shophouses in prime locations.