Prime Toa Payoh Properties Listed for $40 Million Sale
In an interesting development for real estate investors, two prominent properties in Toa Payoh are now available for sale at an asking price of $40 million. This listing comprises a ground-floor HDB shop unit and a two-storey HDB shophouse, showcasing the potential of commercial real estate in Singapore’s vibrant market.
The seller of these assets is the Lew Foundation, a charitable organization based in Singapore. The properties are strategically located at 190 Lorong 6 Toa Payoh and 178 Toa Payoh Central, making them highly accessible and appealing to prospective buyers.
Property Details
The total combined gross floor area of these two units is approximately 7,384 square feet. While specific individual pricing has not been disclosed, this results in an average cost per square foot of about $5,417. According to Cushman & Wakefield (C&W), the marketing agent for this offering, these properties provide a unique blend of asset types that can attract diverse investors.
At 190 Lorong 6 Toa Payoh, the commercial space spans around 6,039 square feet and is well-positioned between the HDB Hub and Toa Payoh Central with an impressive street-level frontage of 22 meters. Currently leased to food & beverage as well as beauty businesses, it holds a remaining lease term of 45 years. Notably, this unit is exempt from Additional Buyer’s Stamp Duty (ABSD) and Sellers’ Stamp Duty (SSD), allowing foreign buyers or corporate entities to acquire it without added burdens.
The second property at 178 Toa Payoh Central features a dual-use layout with commercial space on its ground floor and residential quarters above. With its current tenancy occupied by a medical clinic and a remaining lease of just 44 years, this shophouse adds further value to the overall package being offered.
Market Insights
This dual-property offering presents a rare opportunity as large-format HDB commercial spaces seldom become available in such prime locales. The presence of established F&B approvals enhances its attractiveness to potential occupiers and expands leasing options for future owners.
Toa Payoh Central itself is characterized by high foot traffic due to nearby amenities like malls and libraries. Furthermore, its excellent connectivity via major expressways complements its appeal as a business hub.
Future Developments
A significant factor influencing interest in these properties is the upcoming Toa Payoh Integrated Development set to launch by 2030. This project will introduce new recreational facilities including sports halls and aquatic centers which are expected to increase local activity levels substantially.
Conclusion
The decision by the Lew Foundation to sell these properties stems from their strategy to optimize their portfolio while generating funds for community initiatives aimed at supporting vulnerable demographics across Singapore. As interest continues to mount within the real estate sector—especially among those looking to secure commercial assets close to MRT stations—these offerings stand out due to their exceptional positioning and existing tenancies.
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Source: Original Article
