A 99-year leasehold HDB shophouse at 214 Serangoon Avenue 4 will be up for auction at SRI’s upcoming auction on Feb 26. The property, which includes living quarters on the second floor, has a total floor area of approximately 1,668 sq ft. It has been listed for sale with a guide price of $1.98 million, equivalent to $1,187 psf on the floor area.
Previously offered for sale at the last auction, the shophouse did not find a buyer at a higher guide price of $2.08 million. 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.
At present, the property is tenanted and is generating a gross rental yield of around 6.2% based on the guide price, says Kee. He adds that the new owner will benefit from the existing lease, which ends in 2026, providing them with immediate rental income.
Kee also notes that the guide price for the HDB shophouse is one of the most attractive in the area, making it an appealing opportunity for both investors and owner-occupiers.
Based on URA records, the most recent commercial shophouse transaction in Serangoon was the sale of a 999-year leasehold shophouse on Lichfield Road. The property, which spans an 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 Serangoon Gardens landed residential estate. It is located directly across the road from Serangoon Swimming Complex and Serangoon Sports Centre, ensuring a consistent flow of foot traffic. Carpark spaces are available at the rear of the shophouse.