Hdb Shophouse Serangoon Ave 4 Going 198 Mil
A 99-year leasehold HDB shophouse located at 214 Serangoon Avenue 4 is set to be auctioned off by SRI on Feb 26. The property, which includes living quarters on the second floor, spans a total area of 1,668 sq ft and is currently listed for a guide price of $1.98 million ($1,187 psf).
This will be the second time the shophouse will be put up for auction, having been previously listed last month with a higher guide price of $2.08 million. However, it did not find a buyer.
SRI’s assistant manager of auctions, Jansen Kee, highlights the shophouse’s prime location in front of a bus stop, providing it with excellent visibility and accessibility to the road. The property is currently tenanted, generating a gross rental yield of approximately 6.2% based on the guide price, according to Kee.
He also notes that the shophouse will be sold with its existing lease, which will expire in 2026, thus providing immediate rental income for the new owner. Additionally, the listed guide price is one of the lowest for similar properties in the Serangoon area, making it an attractive opportunity for both investors and owner-occupiers, says Kee.
According to URA records, the most recent commercial shophouse transaction in Serangoon was a 999-year leasehold property along Lichfield Road, which was sold for $4 million ($1,725 psf) in November 2024.
The shophouse up for auction is situated in a cluster of HDB flats bordering Serangoon Gardens landed residential estate. It is directly across from Serangoon Swimming Complex and Serangoon Sports Centre, providing a steady flow of foot traffic to the area. Carpark lots are also available behind the shophouse.
Serangoon Gardens is also a popular residential area, with various types of properties available, including HDB flats, condos, and landed homes. The price trend for Serangoon Gardens properties shows an uptrend, with an overall increase in prices over the years. Condo new sales have been more consistent compared to HDB flat and EC new sales. The buyer profile for the area is diverse, including families, young couples, and expats.
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Apart from the accessibility of roads and the MRT, the neighbourhood of Rivelle Tampines EC also boasts exceptional bus services that provide convenient connections for its residents to a multitude of destinations. With a comprehensive transport system in place, the daily commutes of residents, whether it be for work, school, or leisure activities, are smooth and hassle-free. Additionally, Rivelle Tampines Tampines Street 65 only enhances the already efficient transport network within the vicinity.
Overall, the Serangoon Gardens area offers a vibrant and convenient lifestyle, making this HDB shophouse an attractive opportunity for both investment and own-stay purposes.