Two-storey HDB shophouse at Bishan Street for sale at $4.2 mil

A two-storey HDB shophouse at Bishan North Shopping Mall has been put up for sale via expression of interest (EOI) with an asking price of $4.2 million.

Located at Blk 283 Bishan Street 22, the property consists of a ground-floor shop space with a strata area of about 743 sq ft, along with an upper-level residential unit measuring about 764 sq ft. The shophouse has a total floor area of approximately 1,507 sq ft.

According to ERA Singapore, the appointed marketing agent for the property, the shophouse has 65 years left on its 99-year lease. It adds that the second floor of the shophouse can be accessed by a separate entrance at the front of the ground floor, rather than the back, allowing it to be leased independently.

The entire shop house is currently fully leased to a medical clinic. However, ERA says that future owners have the flexibility to explore different configurations, such as subdividing the ground-floor shop into smaller units or converting it for F&B usage.

The property is strategically located at a junction leading towards a public carpark and faces Bishan Street 22, enjoying prime frontage and high visibility. It is a part of a cluster of shops and eateries at Bishan North Shopping Mall that serves the large surrounding residential catchment comprising HDB blocks, condos and landed housing estates. The mall is close to several schools, making it a popular choice for enrichment centres, ERA adds.
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“Being located right in the epicentre of schools, thousands of residents from HDB and private housing developments, as well as several sports facilities, the property should attract business owners who want to capitalise on the strategic location,” says Donald Goh, director of capital markets and investment sales at ERA Singapore. He adds that the property will also appeal to investors, who will be drawn to the immediate rental income as well as the property’s capital appreciation potential.