-- CBRE as the exclusive marketing agent, is presenting for sale two HDB shophouses at Toa Payoh and Ang Mo Kio town centres. The properties are available for sale either collectively or individually.
Blk 190 Lorong 6 Toa Payoh, #01-564
Located in the heart of Toa Payoh Town Centre and within 200 metres to Toa Payoh MRT Station and Bus Interchange, the Property benefits from its prominent and wide frontage of circa 7.5 metres that immediately faces HDB Hub. Occupying a strata area of 1,033 sf, the Property will be further subdivided to three units of which two have already been pre-committed and leased out.
Home to a large town population of about 121,8501, Toa Payoh is a mature residential estate anchored by its town centre, which has been seamlessly integrated with Toa Payoh MRT station and bus interchange. The town centre is also surrounded by several office developments including HDB Hub, ERA APAC Centre and Orange Tee Building as well as several sizeable industrial developments that contribute to the large working population commuting in and out of the town daily. Further growth and rejuvenation is anticipated in the town with several upcoming HDB housing developments that include Kim Keat Heights, Kim Keat Ripples, and Toa Payoh Ridge, amongst others. In addition, the planned Toa Payoh Integrated Development, a community destination, is slated to develop next to the Town Centre by 2030.
Blk 702 Ang Mo Kio Avenue 8, #01-2507
The Property occupies a superior location in Ang Mo Kio Town Centre at the opening of the pedestrian mall, right next to Ang Mo Kio Bus Interchange and AMK Hub, which experiences an endless stream of foot traffic. It is also fully-sheltered to Ang Mo Kio MRT Station, which is directly connected to AMK Hub. Stretching from corner to corner, the Property has an approximately 24 metres wide frontage, which is strategic to its high rental command. With a strata area of 4,036 sf, the Property has been subdivided
and fully-leased to five tenants including an established beauty retailer, a chain fashion retailer, a hair salon, a beauty salon, as well as a financial credit service tenant.
Ang Mo Kio is an established residential estate housing a large population of about 162,2801. Its town centre was one of the largest in Singapore when first completed in the late 1970s. It is seamlessly integrated with Ang Mo Kio bus interchange as well as Ang Mo Kio MRT station which will see the addition of the new Cross Island MRT line upon its slated completion in 2030. Anchoring the town centre are three shopping malls namely, AMK Hub, Jubilee Square, and Djitsun Mall – all connected through a pedestrian mall mainly comprising of HDB shophouses. Rejuvenation plans are underway to upgrade the pedestrian mall which would include the construction of a sheltered canopy to improve connectivity within the town centre. The town residential population will also expand with several upcoming housing developments including Central Weave @ AMK, Yio Chu Kang Beacon, Lentor Hills Estate, and AMO Residence amongst others.
Mr Clemence Lee (利伟强), Executive Director of Capital Markets, Singapore at CBRE says, “With majority of Singapore’s population residing in HDB apartments, HDB town centres remain ever bustling, holding an essential place in Singaporeans’ everyday life. As key transportation nodes, town residents also depend on them for daily food and necessities.
Being traditionally tightly-held, with supply limited to only around 8,500 privately-held HDB shophouses, this is a rare opportunity for investors to buy into two prime HDB shophouses that provide an immediate and stable rental income stream. Both properties occupy high profile locations with the strongest footfall within the town centres, which are strategic to their high rental command.
The opportunity would be ideal for both investors or keen owner-occupiers looking to expand their existing operations or searching for a flagship outlet in a heartland location. For investors, the wide frontages of the properties enable them the flexibility to maximise rental income through further subdividing of the units or converting to alternative uses, subject to approvals. Further rental upsides may also be enjoyed at the properties with several governmental plans underway to rejuvenate both Ang Mo Kio and Toa Payoh town centres to improve accessibility as well as inject new life into the area.”
Blk 190 Lorong 6 Toa Payoh #01-564 is available for sale via private treaty at an indicative guide price of $13.5 million. Separately, Blk 702 Ang Mo Kio Avenue 8 #01-2507 is for sale at an indicative guide price of $37.5 million via an Expression of Interest exercise that closes on Thursday, 8 February 2024 at 3pm.
Note:
1 Town Populations indicated are based on figures published by Department of Statistics Singapore, Census of Population 2020
About CBRE Group, Inc.
CBRE Group, Inc. (NYSE:CBRE), a Fortune 500 and S&P 500 company headquartered in Dallas, is the world’s largest commercial real estate services and investment firm (based on 2022 revenue). The company has approximately 115,000 employees (excluding Turner & Townsend employees) serving clients in more than 100 countries. CBRE serves a diverse range of clients with an integrated suite of services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.
