SRI will be auctioning a 99-year leasehold HDB shophouse at 214 Serangoon Avenue 4 on Feb 26. The two-storey shophouse, which also includes living quarters on the second floor, has a total area of 1,668 sq ft. The listed price for the property is $1.98 million, which is equivalent to $1,187 psf.
This is not the first time the shophouse has appeared at SRI’s auction. It was previously listed last month at a higher price of $2.08 million but did not find a buyer. According to Jansen Kee, assistant manager of auctions at SRI, the shophouse is strategically located in front of a bus stop, providing it with good visibility from the road.
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Currently tenanted, the shophouse has a gross rental yield of approximately 6.2% based on the guide price, says Kee. The property will be sold with its existing lease, which ends in 2026, offering the new owner an immediate stream of rental income.
Kee adds that the listed guide price for the HDB shophouse is one of the lowest in the area, making it an attractive investment for both investors and owner-occupiers.
According to URA records, the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse along Lichfield Road for $4 million ($1,725 psf) in November 2024.
The property up for auction is located within a cluster of HDB flats that border the Serangoon Gardens landed residential estate. It is situated directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, which provides the area with a steady supply of foot traffic. Covered parking is available behind the shophouse.