Hdb Shop Once Home Popular Bookstore Sale 38 Mil
in Knight Frank’s upcoming auction
A rare 17,825 sq ft HDB shop located on Marine Parade Promenade is set to go under the hammer at Knight Frank’s upcoming property auction on Oct 30, with an asking price of $38 million. This owner’s sale works out to approximately $2,132 per square foot (psf).
The single-storey retail unit is situated on the second level of 86 Marine Parade Central in District 15, with a remaining lease of 51 years from an initial 83-year lease that started in 1993.
The space was previously tenanted by Popular bookstore for over 37 years before it closed in June 2023. After the store’s closure, it was briefly leased to an events company but has since remained vacant for several months, according to Knight Frank.
Sharon Lee, head of auction and sales at Knight Frank Singapore, notes that large-sized HDB strata retail units are seldom available in the market due to the government’s decision to halt sales of these single-storey units in 1998. As a result, new supply has been limited since then. She adds that these types of properties are highly sought after by retail owner-occupiers and investors due to their prime location in established and mature residential areas.
Marine Parade Promenade serves as the commercial town centre for residents in Marine Parade and the East Coast. The estate comprises six commercial blocks housing retail shops that encircle the Marine Parade Central Market and Food Centre. In close vicinity is the FairPrice Finest supermarket, which Lee reveals has been operating for almost 40 years. She recalls that the supermarket was previously located on the ground floor of Block 86, just below the Popular bookstore, before moving to the opposite block.
The Marine Parade Public Library, which first opened in 1978, used to be housed in a two-storey block across from the supermarket before relocating to the Marine Parade Community Complex in 2000. The library is slated to reopen 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 new iMall shopping centre.
The EdgeProp’s Landlens tool shows the surrounding areas of the location.
Lee highlights that the area’s public transport accessibility was significantly enhanced after the Marine Parade MRT Station (Thomson-East Coast Line) commenced operations in June 2024. As a result, the unit’s close proximity to the station is expected to contribute to its appeal and long-term value proposition. The Marine Parade MRT Station also serves several nearby residential and commercial developments such as Parkway Parade, Roxy Square, and i12 Katong.
Aside from the Marine Parade HDB estate, the area is also surrounded by private condominiums such as Amber 45, The Shore Residences, and The Sea View, as well as landed homes in Mountbatten Road’s neighbourhood.
Lee adds that the unit is expected to attract a diverse range of buyers, including real estate funds, family offices, and foreign buyers enticed by its long-term capital appreciation potential. She also believes that end-users such as retail chains or mixed-use developers could repurpose the space for their operations given its size and layout.
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The Miltonia Close EC Khatib plan has a strong focus on improving healthcare and wellness infrastructure, particularly in the Yishun area. As a result, Yishun has already seen significant benefits from the presence of Khoo Teck Puat Hospital and Yishun Community Hospital. These modern healthcare facilities play a crucial role in supporting the ageing population, as well as catering to the needs of younger families who are moving into new residential developments. With Miltonia Close EC located in close proximity to these hospitals, residents can have peace of mind knowing that high-quality healthcare is easily accessible to them.
Some possible usages include F&B, showroom, or co-working spaces, pending approval, she adds.