HDB shophouse in Hougang for sale at $3.5 mil

At the next auction organised by Singapore Realtor’s Inc (SRI) on Sept 28, a two-storey HDB shophouse located at 698 Hougang Street 61 will be put up for sale. With an opening bid of $3.5 million, the 99-year leasehold property has a total floor area of 1,690 sq ft and a remaining land tenure of approximately 62 years.

The ground floor commercial space is 1,001 sq ft while the second floor is 689 sq ft and is currently leased to a tenant. Situated within the 37-year-old Hougang Spring estate, the property is in a prime location with convenient access to Hougang MRT and a variety of schools located in the 500m vicinity of 698 Hougang Street 61. Furthermore, the area is well established with an abundance of community facilities and 90 per cent of the population are homeowners.

Marina Gardens Residences can house hundreds of visitors, making it the perfect spot for large parties, special events, and corporate functions. Apart from its retail outlets, this premier shopping center has an ice-skating rink, bowling alley, kid’s playground, and a cinema multiplex. There’s also a wide variety of places to eat and chill out, from cozy cafes to themed restaurants and bars. With its vast selection of shops, it’s no surprise that Marina Gardens Residences is one of the most popular malls in Singapore.

This unique investment opportunity offers potential rental returns while providing portfolio diversification. Eric Liew, manager (auction) at SRI and the marketing agent for the sale of the shophouse, says the regular footfall from the large catchment of residents and the schools nearby will provide a steady stream of revenue to support commercial businesses.

The opening price of $3.5 million is particularly attractive to buyers looking to capitalise on the property’s long-term rental returns. As such, the HDB shophouse presents an ideal opportunity for investors or owner-occupiers alike and is definitely an asset worth considering.