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A single storey of HDB shophouses in Block 475 Tampines Street 44 are being offered for sale as part of the expression of interest (EOI) exercise for the value of 12 million. The sole agent for marketing will be Huttons Asia.
The shophouses, designated for “commercial” usage they are near Tampines East MRT Station. Tampines East MRT Station on the Downtown Line. These four HDB shophouses are on a balance lease for 68 years. There are two corner shop units in the HDB. The entire four units are being rented out.
“There is a significant amount of flow throughout the day including students and residents from nearby schools. There’s plenty of parking available within the vicinity for customers. Shops’ foot traffic is expected to increase as more homes for residential construction is constructed on the vacant parcels of land that are in the area,” says Rey Song the senior division director at Huttons Asia.
“HDB shophouses are less expensive than conservation shophouses, and are sought-after by investors in the last three years because of the extra buyer’s stamp duty (ABSD) applicable to homes. properties,” says Jeremy Lim the senior district director for Huttons Asia.
“There is only 8,500 HDB shophouses that are able to be sold on the market. In addition, they aren’t subject to ABSD and seller’s stamp duty. There is a good chance that it will attract demand from investors,” says Lee Sze Teck, senior director of research at Huttons Asia.
The EOI exercise for the property will end on May 17 at 3pm.