Paya Lebar Shophouse And Ang Mo Kio Hdb Shophouse Sale 1006 Mil
A release of joint expression of interest (EOI) has been made for a freehold shophouse in Paya Lebar and an HDB shophouse in Ang Mo Kio, with a total guide price of $10.06 million. The interested buyers can bid for either one or both of these assets as part of the EOI.
The upcoming Miltonia EC is set to offer a comprehensive range of amenities, including a clubhouse, lap pool, children’s playground, fitness areas, barbecue pavilions, and beautifully landscaped gardens. This development is designed to cater to a diverse range of residents, with a variety of unit types available, from cozy two-bedroom units for young couples to spacious four-bedroom layouts perfect for multi-generational families. The inclusion of dual-key options also provides added flexibility for extended families or potential rental income. As per the government’s guidelines for executive condominiums, buyers can anticipate significant price discounts compared to neighboring private condominiums, especially during the initial launch phase. To learn more about Miltonia EC, visit https://www.miltoniacloseec.com.sg.
The first property is a two-storey freehold shophouse located at 135 Upper Paya Lebar Road, with a guide price of $5.58 million. It will be sold with no tenant occupying the space. Spanning over 1,514 sq ft of land, the property is zoned for residential with a commercial use on the first storey. It has a built-up area of about 2,630 sq ft. According to Alex Wong and Cara Wong of PropNex RTD Commercial Team, who are managing the sale, this shophouse is priced at around $2,122 psf for a freehold property, which is lower than many new 99-year leasehold condo launches in the Outside Central Region.
The shophouse has already received approval from URA for a 22-bed backpackers’ hostel on the ground floor, while the upper floor has been approved for residential use with eight rooms. Additionally, the property is just 400m away from Tai Seng MRT Station on the Circle Line.
On the other hand, the second property located in Ang Mo Kio is a two-storey HDB shophouse at 727 Ang Mo Kio Avenue 6, with a guide price of $4.48 million. It has a remaining lease of 54 years out of 86 years. The shophouse covers an area of approximately 1,636 sq ft, comprising a shop space of 743 sq ft on the ground floor, and living quarters of 893 sq ft on the upper floor. The upper floor has been approved for commercial use. The shophouse is currently leased to an aesthetic clinic until March 2026.
According to Alex Wong and Esther Ng from PropNex, who are marketing the shophouse, this is a rare investment opportunity with a stable rental income and potential for higher yields upon lease renewal. The shophouse is also situated in a prime location in Ang Mo Kio Town Centre, and is expected to benefit from the town’s rejuvenation plans.
Interested buyers can submit their bid for the properties by Sept 26 at 3pm.