A 99-year leasehold HDB shophouse at 214 Serangoon Avenue 4 will be offered at SRI’s upcoming auction on Feb 26. This two-storey property has a total floor area of about 1,668 sq ft, including living quarters on the second floor. With a guide price of $1.98 million, this translates to $1,187 psf on the floor area.
This shophouse is being sold as a mortgagee sale, and it is the second time it is being auctioned by SRI. Last month, it was put up for auction with a higher guide price of $2.08 million but did not find a buyer.
According to Jansen Kee, assistant manager of auctions at SRI, the shophouse is situated at a prime location in front of a bus stop, giving it high visibility from the road. It is currently tenanted and is generating a gross rental yield of approximately 6.2% based on the guide price.
Kee also mentions that the shophouse will be sold with its existing lease, which ends in 2026. This provides the new owner with an immediate stream of rental income.
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, says Kee.
According to URA records, the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse along Lichfield Road. This two-storey property spanned a land area of 2,319 sq ft and fetched $4 million ($1,725 psf) in November 2024.
The shophouse up for auction is located near a cluster of HDB flats that are next to the Serangoon Gardens landed residential estate. It is situated directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, providing a steady flow of foot traffic in the area. There are also carpark lots available behind the shophouse. Interested buyers may refer to URA’s records to find out more about the price trends of Serangoon Garden Estate properties, as well as information on the buyer profile, rental yield, and completion year of the estate.
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