Property consultancy firm Savills has launched six HDB commercial shops up for sale through expressions of interest.
The shops are located in the mature estates of Ang Mo Kio, Bukit Batok, Bedok, Tampines and Yishun. They have been operated and rented as substantial eating establishments, with seven to 13 food stalls each in addition to an anchor drinks stall.
Altogether, they have a seating capacity of 200 to 370 people, spreading over the internal and outdoor areas.
The shops are located near the transport nodes and wet markets, and have spacious public car parking.
Collectively, the shops have a guide price of almost $65 million that reflects net yield before property tax of 5.7 percent. The shops can also be sold individually, with each shop priced between $4.8 million and $16 million, or as a portfolio.
The existing tenancies have four to nine years to run. The net yield before property tax is expected to go above six percent in the near term as committed rents are increased during the tenancy period.
Expressions of interest will close on 21 July 2010 at 3 pm.