A commercial strata unit at 215 Bedok North Street 1 has been listed for sale at $24 million, with CBRE serving as the exclusive marketing agent. The unit, located on the second floor of a two-storey retail building, offers a spacious strata area of 16,178 sq ft. The indicative guide price translates to approximately $1,483 per square foot. Notably, businesses and foreign buyers can acquire the property without incurring additional buyer’s or seller’s stamp duties.
Situated within the Bedok Town Centre precinct, this unit is strategically positioned near various community amenities, including Bedok Market and Hawker Centre, Bedok Public Library, and Kampong Chai Chee Community Centre. It also enjoys proximity to the Bedok Integrated Transport Hub, which houses the Bedok Mall on New Upper Changi Road, an air-conditioned bus interchange, and a direct connection to the Bedok MRT station on the East-West Line.
Michael Tay, Head of Capital Markets at CBRE Singapore, highlights the rarity and investment potential of such commercial HDB assets in mature neighbourhoods. “These types of commercial HDB units with large floor plates are scarce and attract significant subleasing interest from various tenant profiles, including educational institutions, agencies, and offices,” Tay notes. He adds that the unit is currently subleased to Singapore Pools Betting Centre, making it an attractive investment opportunity with a stable, established tenant.
Tay also emphasizes that this sale offers a compelling opportunity for entrepreneurs seeking secure investments with the potential for accretive returns. The unit’s location in an older HDB estate undergoing rejuvenation positions it to benefit from the development of new HDB flats and private condominiums, such as Sky Eden @ Bedok, which is just a three-minute walk from the Bedok Integrated Transport Hub and surrounding amenities.
The HDB unit is being sold through an expression of interest exercise, which closes on July 10. The area’s appeal to affluent young professionals, coupled with nearby business hubs like Changi Business Park and ESR BizPark @ Chai Chee, further enhances the investment potential by offering flexibility for medium- to long-term leasing.