A corner HDB shophouse on Upper Boon Keng with a rare Cat-1 spa/massage licence and a
signed tenancy — income from day one, and no GST on the purchase.
✦ Tenanted at $10,000/mo on a signed lease to 2029 — ~4.6% gross yield from completion.
✦ Cat-1 spa/massage licence in place — tightly controlled, genuinely hard to replicate.
✦ Corner unit, dual frontage — and NO shopping mall within walking distance, so the ~101,000
residents in the Kallang catchment rely on these shophouses for daily needs. That's what
drives ~15,000 weekday commuters past the door within 400m.
✦ ~16 min to Raffles Place by MRT (Kallang stn), inside URA's transforming Kallang —
Kallang Alive, Kampong Bugis, the Kallang River corridor.
✦ HDB shophouse = no GST. ABSD applies only to the small living-quarters portion, not the shop.
$2,588,000 — an income-and-licence play, not a land play. Verify lease, licence & tax in DD.
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shophouse, tenanted shophouse Singapore, no GST commercial, high footfall shophouse, 4.6% yield
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