Hdb Shophouse Serangoon Ave 4 Going 198 Mil
There will be a public auction by SRI on Feb 26 for a 99-year leasehold HDB shophouse located at 214 Serangoon Avenue 4. The two-storey shophouse, which has living quarters on the second floor, boasts a floor area of about 1,668 sq ft. With a guide price of $1.98 million (equivalent to $1,187 psf on the floor area), this property is ideal for businesses or investment purposes.AdvertisementThis mortgagee sale marks the second time that the shophouse has been listed at SRI’s auction. Although it was previously marketed in January with a higher guide price of $2.08 million, the property did not attract a buyer. According to Jansen Kee, assistant manager of auctions at SRI, the shophouse is strategically situated in front of a bus stop, providing excellent visibility from the road. This prime location makes it a desirable asset for business owners.The shophouse is currently tenanted and is generating a gross rental yield of roughly 6.2% based on its guide price, adds Kee. The unit will be sold with its existing lease, which is set to end in 2026. This means that the new owner will immediately receive rental income from the property.Kee points out that the listed guide price for this HDB shophouse is relatively low for the area, making it a worthwhile investment for both investors and owner-occupiers. Based on URA records, the latest transaction for a commercial shophouse in Serangoon was a 999-year leasehold property on Lichfield Road, which sold for $4 million ($1,725 psf) in November 2024. Spanning over 2,319 sq ft, this two-storey shophouse is comparatively larger than the one up for auction and has a longer leasehold tenure.The property being auctioned is part of a cluster of HDB flats in the vicinity of Serangoon Gardens landed residential estate. It is located opposite Serangoon Swimming Complex and Serangoon Sports Centre, which attracts a steady flow of visitors to the area. Carpark lots are available behind the shophouse, making it convenient for both drivers and pedestrians.
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