An HDB shophouse located at 214 Serangoon Avenue 4, with a 99-year leasehold, will be available for auction by SRI on Feb 26. The two-storey shophouse includes living quarters on the second floor and has a total floor area of approximately 1,668 sq ft. With a guide price of $1.98 million, the property is valued at $1,187 psf on the floor area.
This is the second time the shophouse is being put up for auction, as it was previously listed last month with a higher guide price of $2.08 million but did not receive any buyers. According to Jansen Kee, SRI’s assistant manager of auctions, the shophouse is strategically located in front of a bus stop, making it highly visible from the road.
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The shophouse is presently tenanted and is generating a gross rental yield of about 6.2% based on the guide price, says Kee. He also mentions that the property will be sold with its existing lease, which ends in 2026, allowing the new owner to receive immediate rental income.
Kee points out that the guide price for this HDB shophouse is one of the lowest in the area, making it an appealing investment option 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, sitting on a land area of 2,319 sq ft, was sold for $4 million ($1,725 psf) in November 2024.
The shophouse up for auction is situated within a cluster of HDB flats, bordering the landed residential estate of Serangoon Gardens. It is situated directly opposite Serangoon Swimming Complex and Serangoon Sports Centre, ensuring a steady flow of foot traffic in the area. Carpark lots are available behind the shophouse. Visitors can also find out more information about properties in Serangoon Garden Estate, such as the buyer profile and price trends, on Ask Buddy, a feature on PropertyGuru.