Nine HDB shops in mature estates go on sale for $34m

File photo of HDB shops in Toa Payoh. PHOTO: ST FILE

SINGAPORE - A portfolio of nine Housing Board commercial units in mature estates is available for sale with a $34 million guide price, marketing agent CBRE said in a statement on Monday (Sept 24).

The ground-floor units range from 581 sq ft to 2,776 sq ft, and are in the town centres of the Ang Mo Kio, Toa Payoh, Bedok, Tampines, Changi Village, Yishun and Ubi estates. Interested bidders may acquire the shops on an individual basis or as a set.

The properties are currently fully tenanted.

CBRE director of capital markets Sammi Lim said family offices, private equity funds, real estate funds and high net worth individuals could be interested in the units. End-users who are looking for shops from which to operate small businesses could also be interested.

"It is rare for an HDB commercial portfolio in mature estates to be available for sale," the director said. "We believe it will appeal to investors and end-users, especially when there are only about 8,500 HDB shophouses that can be resold on the private market."

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