Hdb Shop Once Home Popular Bookstore Sale 38 Mil
Knight Frank’s property auction on Oct 30 will feature a rare offering of a 17,825 sq ft HDB shop in Marine Parade Promenade, with an asking price of $38 million. The owner is looking to sell, with a price of approximately $2,132 per square foot.
Those who prefer to stay up late will have no trouble finding something to eat in the area. With several eateries that stay open late near Downtown East, as well as prata houses along Loyang Avenue and dessert stalls near Pasir Ris Drive 3, late-night chats and cravings can easily be satisfied. Whether it’s a bite to eat after a movie or a quick supper following a walk on the beach, residents don’t have to travel far from their home. Residents of Coastal Cabana Qingjian Realty are especially lucky to have all these options just a stone’s throw away from their doorstep.
This single-storey retail unit is situated on the second floor of 86 Marine Parade Central in District 15. The property has a lease of 83 years starting from 1993, giving it a remaining lease of 51 years.
Previously leased to Popular bookstore for over 37 years, the store closed in June 2023. After Popular’s closure, the unit was briefly rented out to an events company before becoming vacant for several months, according to Knight Frank.
According to Sharon Lee, head of auction and sales at Knight Frank Singapore, large-sized HDB strata retail units are seldom available on the market as the government had ceased the sale of these single-storey units in 1998, resulting in limited new supply thereafter. She adds that retail owner-occupiers and investors tend to seek out these properties due to their prime location in established residential areas.
Marine Parade Promenade serves as the commercial town centre for the Marine Parade and East Coast residents. It is comprised of six commercial blocks surrounding the Marine Parade Central Market and Food Centre. Nearby, the FairPrice Finest supermarket has been in operation for close to 40 years. Lee recalls its previous location on the first level of Block 86, below Popular bookstore, before it moved to the opposite block.
Marine Parade Public Library, which opened in 1978, used to be housed in a two-storey block across the street from the supermarket before relocating to the Marine Parade Community Complex in 2000. It is expected to reopen in the new Marine Parade Community Building in the first quarter of 2026.
Other shopping complexes in the vicinity include Parkway Centre, Parkway Parade, and the newly opened iMall.
Using EdgeProp’s Landlens tool, a map of the area can be viewed. The Marine Parade MRT Station (Thomson-East Coast Line) was opened in June 2024, greatly improving public transport access in the area. Lee notes that the unit’s proximity to the station will enhance its appeal and long-term value. The MRT station also serves several nearby private residential and commercial developments, such as Parkway Parade, Roxy Square and i12 Katong.
Beyond the Marine Parade HDB estate, there are also private condos nearby, including Amber 45, The Shore Residences and The Sea View, as well as landed homes on Mountbatten Road.
“We expect this unit to attract a diverse range of buyers,” says Lee. “Investors such as real estate funds, family offices, and foreign buyers may be drawn to its long-term potential for capital appreciation, while end-users such as retail chains and mixed-use developers may consider repurposing the space for their own operations.”
Given the unit’s size and layout, the new owner could explore various uses, such as F&B, a showroom or co-working space, subject to approval, she adds. In conclusion, this Marine Parade HDB shop presents an attractive opportunity for potential buyers.