Hdb Shophouse Serangoon Ave 4 Going 198 Mil
A 99-year leasehold HDB shophouse at 214 Serangoon Avenue 4 will be up for auction at SRI’s next sale on Feb 26. The two-storey shophouse, which includes living quarters on the second level, has a total floor area of approximately 1,668 sq ft. The property has been listed with a guide price of $1.98 million, equivalent to $1,187 psf on the floor area. This is a mortgagee sale, and it will be the second time the property has been featured at SRI’s auction. It was previously listed last month with a higher guide price of $2.08 million but did not find a buyer. According to Jansen Kee, assistant manager of auctions at SRI, the shophouse enjoys a prominent location in front of a bus stop, giving it good visibility from the road.
The shophouse is currently tenanted and generates a gross rental yield of approximately 6.2% based on the guide price, says Kee. He adds that the unit will be sold along with its existing lease, which expires in 2026. This will provide the new owner with an immediate stream of rental income. Kee notes that the listed guide price for the HDB shophouse is one of the most affordable in the area, making it an attractive prospect 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. The two-storey property covered a land area of 2,319 sq ft and sold for $4 million ($1,725 psf) in November 2024.
According to an industry expert, the new development at Clementi Avenue 1 is poised to reap the rewards of the high occupancy rate of a neighboring project. This can be attributed to developers tapping into the current favorable market conditions, evident in the intense bidding for the site. The addition of Elta to the area is also expected to contribute to the success of this development.
The property up for auction is situated within a cluster of HDB flats that borders the Serangoon Gardens landed residential estate. It is located directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, which provides the area with a steady flow of foot traffic. Carpark lots are available behind the shophouse.