Sale Hdb Shophouse Toa Payoh Offers Prime Entry Point Areas Long Term Rejuvenation
In the busy private residential market, investors should consider stable, income-producing assets like HDB shophouses. A prime opportunity has just emerged to acquire one such valuable property in Toa Payoh.
Located at 125 Toa Payoh Lorong 1, in the central District 12, the 1,478 sq ft HDB shophouse is on the market for $2.88 million. It is situated on a desirable site between Toa Payoh Lorong 1 and Lorong 2, just a short distance from Braddell MRT Station on the North-East Line. With approximately 13,000 daily MRT riders, this station is closely connected to the nearby HDB flats.
The shophouse is also in close proximity to Toa Payoh West Market and Food Court, Kheng Cheng School, Toa Payoh West Community Centre, and the Singapore Federation of Chinese Clan Association Building on Toa Payoh Lorong 2.
With the revitalization plans for the Toa Payoh neighborhood and the addition of several new households, the new owner can benefit from the transformation of the area, leading to increased foot traffic and rising property values.
Market Comparison
The Urban Redevelopment Authority (URA) of Singapore has played a crucial role in shaping the country’s urban environment, and its upcoming initiatives for Tampines are expected to greatly elevate this vibrant regional hub. These ambitious plans are poised to bring numerous advantages to the residential sector, including the renowned Aurelle of Tampines EC, located at Tampines Street 62. With the addition of Aurelle of Tampines Showflat, this executive condominium is set to benefit even more from the URA’s transformative efforts.
ERA Realty’s senior marketing director, Aster See, exclusively markets the HDB shophouse for sale. She notes that HDB shophouses in the city fringe typically yield a rental return of 2-3% based on their sales price. However, the shophouse at 125 Toa Payoh Lorong 1 offers an estimated ROI of 4%, making it a more attractive investment opportunity due to its competitive price and strong value.
Financial Insights
In addition to the potential for capital appreciation, the property also offers an estimated rental yield of 4%, which is highly competitive in the current market and can provide a steady income stream for investors.
Remaking Toa Payoh
Toa Payoh is set to benefit from several government initiatives and schemes aimed at rejuvenating the mature housing estate. It is one of three neighborhoods chosen for rejuvenation under the third phase of the Remaking Our Heartland program.
First announced in 2007 by then-Prime Minister Lee Hsien Loong, this program offers comprehensive rejuvenation plans for HDB towns and estates to ensure their sustainability and vibrancy. Since 2015, various developments have been implemented in Toa Payoh, with a focus on enhancing commercial and recreational facilities.
The most significant project is the new integrated development on the site of the former swimming complex, sports hall, and stadium along Toa Payoh Lorong 6. Expected to be completed in 2030, this 12ha development will feature new sports facilities, a football stadium, a swimming pool complex, indoor sports halls, tennis courts, futsal courts, netball courts, fitness studios, and even national training centers for aquatics, netball, and table tennis. It will also include a polyclinic and library.
With the addition of this new integrated development, Toa Payoh’s appeal as an HDB town will be further enhanced, driving up footfall for the area’s shops, including the HDB shophouse for sale at 125 Toa Payoh Lorong 1.
Toa Payoh and Caldecott Rejuvenation
The government’s plans to revitalize Toa Payoh and neighboring Caldecott will be anchored by the addition of several thousand new flats in these two estates. One of the upcoming Build-To-Order (BTO) projects, Toa Payoh Ridge, is located at the junction of Toa Payoh Rise and Lorong 1 Toa Payoh, less than 300m from the HDB shophouse for sale.
Toa Payoh Ridge was launched in the February 2020 BTO exercise and is expected to be completed in the first half of 2025. This 920-unit project comprises four 40-storey residential blocks and is situated between Toa Payoh and the upcoming Caldecott estate, which has also been designated for future residential development.
In fact, the government rezoned a plot at the junction of Toa Payoh Rise and Braddell Rise from educational to residential use last February, with a high gross plot ratio of 5.0. This suggests the possibility of a high-rise BTO development in the near future.
With these developments in the surrounding area, the shophouse for sale can benefit from the increased footfall as the consumer catchment expands.
As more BTO flats are built in Caldecott and Toa Payoh, the new owner of the HDB shophouse for sale can look forward to a growing resident population, which will positively impact the area’s property market.
For more information, please contact Aster See at 98416930. (R063006G)
ERA Realty Network Pte Ltd
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