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Business Times
14-05-2025
- Business
- Business Times
Six HDB shophouses on the market for S$73 million
[SINGAPORE] A portfolio of six HDB shophouses located across Toa Payoh, Ang Mo Kio and Tanjong Pagar is up for sale for S$73 million. Based on checks by The Business Times, the shophouses are owned by Royal Group, a Singapore-based, single-family office founded by billionaire Asok Kumar Hiranandani. The units can be acquired individually or as a portfolio, said marketing agent Savills Singapore on Wednesday (May 14). One shophouse is located at the ground floor of 190 Toa Payoh Lorong 6, in the vicinity of HDB Hub. Subdivided into three units and fully leased, the shophouse occupies a total lot area of 1,033 square feet (sq ft) and is being sold for a guide price of S$12 million. Two shophouses at 702 and 705 Ang Mo Kio Avenue 8 are located next to AMK Hub. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up 'The properties have a wide street frontage along the pedestrian mall with strong visibility and are always fully leased,' said Nick Chan, associate director of investment sales and capital markets at Savills Singapore. The 702 Ang Mo Kio Avenue 8 shophouse spans 4,037 sq ft and is available from S$36 million. The 705 Ang Mo Kio Avenue 8 shophouse, at 1,647 sq ft, has a guide price of S$10 million. The remaining three shophouses in the portfolio are located in Tanjong Pagar Plaza. Each unit is on sale from S$5 million. The units enjoy substantial frontage along Tanjong Pagar Road and are located next to NTUC Fairprice, said Chan. There are approximately 8,500 privately held HDB shophouses making them among the most tightly held commercial assets in Singapore. 'Each unit in the portfolio offers a gross yield of approximately 4 per cent, with further upside potential through rental reversion or further subdivision of space to drive rental income,' Chan noted. 'This portfolio provides investors with an immediate income-generating opportunity across three established and highly sought-after mature residential estates.'
Business Times
13-05-2025
- Business
- Business Times
Royal Group puts six HDB shophouses up for sale for S$73 million
[SINGAPORE] A portfolio of six HDB shophouses located across Toa Payoh, Ang Mo Kio and Tanjong Pagar is up for sale for S$73 million. Based on checks by The Business Times, the shophouses are owned by Royal Group, a Singapore-based, single-family office founded by billionaire Asok Kumar Hiranandani. The units can be acquired individually or as a portfolio, said marketing agent Savills Singapore on Wednesday (May 14). One shophouse is located at the ground floor of 190 Toa Payoh Lorong 6, in the vicinity of HDB Hub. Subdivided into three units and fully leased, the shophouse occupies a total lot area of 1,033 square feet (sq ft) and is being sold for a guide price of S$12 million. Two shophouses at 702 and 705 Ang Mo Kio Avenue 8 are located next to AMK Hub. A NEWSLETTER FOR YOU Tuesday, 12 pm Property Insights Get an exclusive analysis of real estate and property news in Singapore and beyond. Sign Up Sign Up 'The properties have a wide street frontage along the pedestrian mall with strong visibility and are always fully leased,' said Nick Chan, associate director of investment sales and capital markets at Savills Singapore. The 702 Ang Mo Kio Avenue 8 shophouse spans 4,037 sq ft and is available from S$36 million. The 705 Ang Mo Kio Avenue 8 shophouse, at 1,647 sq ft, has a guide price of S$10 million. The remaining three shophouses in the portfolio are located in Tanjong Pagar Plaza. Each unit is on sale from S$5 million. The units enjoy substantial frontage along Tanjong Pagar Road and are located next to NTUC Fairprice, said Chan. There are approximately 8,500 privately held HDB shophouses making them among the most tightly held commercial assets in Singapore. 'Each unit in the portfolio offers a gross yield of approximately 4 per cent, with further upside potential through rental reversion or further subdivision of space to drive rental income,' Chan noted. 'This portfolio provides investors with an immediate income-generating opportunity across three established and highly sought-after mature residential estates.'
