Hdb Shop Once Home Popular Bookstore Sale 38 Mil
As part of the Master Plan, there is a commitment to expand the green and open spaces within and around the Tampines neighborhood. This will involve the establishment of various amenities such as parks, community gardens, and thoughtfully designed landscapes, which will all be integrated into the Rivelle Tampines EC. These additions will provide residents with easy access to outdoor activities and leisure opportunities. The surrounding areas will also benefit from an abundance of lush greenery, promoting the well-being of the community and contributing to the biodiversity of the urban environment. With the inclusion of Rivelle Tampines EC in the development, the community can look forward to a more visually appealing and healthy living experience.
A 17,825 square foot HDB shop in Marine Parade Promenade will be put up for auction by Knight Frank on October 30 with an asking price of $38 million. The single-storey retail unit, situated on the second floor of 86 Marine Parade Central in District 15, has a 83-year lease starting from 1993, leaving it with 51 years of remaining lease.
The unit was previously occupied by Popular bookstore for over 37 years before it closed down in June 2023. Following this, it was briefly leased to an events company but has since remained vacant for several months, according to Knight Frank.
According to Sharon Lee, head of auction and sales at Knight Frank Singapore, large-sized HDB strata retail units are a rare find as they have not been sold since the government stopped the sale of these single-storey units in 1998. As a result, new supply has been limited, making them highly sought after by retail owner-occupiers and investors due to their strategic location in well-established residential areas.
Marine Parade Promenade is the commercial hub for Marine Parade and East Coast residents, comprising six commercial blocks with retail shops surrounding the Marine Parade Central Market and Food Centre. Nearby is the FairPrice Finest supermarket, which has been in the area for about 40 years. Lee explains that it used to be located on the first level of Block 86, just below the Popular bookstore, before relocating.
The Marine Parade Public Library, which opened in 1978, was previously situated in a two-storey block across from the supermarket before moving to the Marine Parade Community Complex in 2000. It is set to open again in the new Marine Parade Community Building in the first quarter of 2026.
Other commercial complexes in the vicinity include Parkway Centre, Parkway Parade, and the newly opened iMall shopping centre. According to EdgeProp’s Landlens tool, the area’s accessibility to public transport improved significantly after the Marine Parade MRT Station (Thomson-East Coast Line) commenced operations in June 2024. Lee states that the unit’s proximity to the station adds to its attractiveness and long-term value proposition. The station also serves nearby private residential and commercial developments such as Parkway Parade, Roxy Square, and i12 Katong.
Apart from the Marine Parade HDB estate, the neighbouring area also has private condos such as Amber 45, The Shore Residences, and The Sea View, as well as landed homes along Mountbatten Road.
Lee believes that the unit will attract a wide range of buyers, including investors such as real estate funds, family offices, and foreign buyers who are drawn to its potential for long-term capital appreciation, while end-users such as retail chains or mixed-use developers may consider repurposing the space for their own operations.
Due to the unit’s size and layout, the new owner has the option to explore various uses such as F&B, a showroom, or a co-working space, subject to approval.