A 99-year leasehold shophouse located at 214 Serangoon Avenue 4 is set to be put up for auction at SRI’s next auction on Feb 26. The two-storey property comes with living quarters on the second floor and boasts a total floor area of approximately 1,668 sq ft. With a guide price of $1.98 million ($1,187 psf), the property has been listed as a mortgagee sale and will be appearing in SRI’s auction for the second time, after failing to find a buyer last month when it was listed at a higher guide price of $2.08 million.
According to Jansen Kee, assistant manager of auctions at SRI, the shophouse benefits from a prominent position in front of a bus stop, providing excellent visibility to passing traffic. Currently tenanted, the property is generating a gross rental yield of approximately 6.2% based on the guide price, says Kee. He also notes that the shophouse will be sold with its existing lease, which expires in 2026, providing the new owner with an immediate stream of rental income.
Kee adds that the listed guide price for this HDB shophouse is one of the lowest in the area, making it an attractive value proposition for both investors and owner-occupiers. According to URA records, the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse along Lichfield Road. The two-storey property, which spanned a land area of 2,319 sq ft, fetched $4 million ($1,725 psf) in November 2024.
The shophouse up for auction is located within a cluster of HDB flats that border the Serangoon Gardens landed residential estate. It is directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, providing the area with a steady supply of foot traffic. Additionally, there are carpark lots available behind the shophouse.
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