SRI’s next auction on Feb 26 will feature a 99-year leasehold HDB shophouse located at 214 Serangoon Avenue 4. The two-storey shophouse comes with living quarters on the second floor and has a total floor area of about 1,668 sq ft. With a guide price of $1.98 million, the property translates to $1,187 psf on the floor area.
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This is the second time the property is being auctioned by SRI, with the previous attempt in January having a higher guide price of $2.08 million. However, it did not find a buyer. According to Jansen Kee, assistant manager of auctions at SRI, the shophouse’s prime location in front of a bus stop makes it highly visible from the road.
The shophouse is currently tenanted and is generating a gross rental yield of approximately 6.2% based on the guide price, says Kee. He also mentions that the unit will be sold with its existing lease, which ends in 2026, providing the new owner with an immediate stream of rental income.
Kee adds that the listed guide price for the HDB shophouse is one of the lowest in the area, making it an attractive value proposition for both investors and owner-occupiers. The most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse along Lichfield Road, which fetched $4 million in November 2024.
Located within a cluster of HDB flats near the Serangoon Gardens landed residential estate, the shophouse is directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, providing a steady stream of foot traffic. Additional carpark lots are also available behind the shophouse.
Interested buyers can refer to Ask Buddy, a feature on the property listing website, to find out more about the buyer profile and price trends of Serangoon Garden Estate properties. The completion year of Serangoon Garden Estate is also available for reference.