Lew Foundation puts two Toa Payoh HDB commercial properties up for sale at $40 mil

Gerine Tang Yi Qian08-24

Located at Block 190 Lorong 6 Toa Payoh and Block 178 Toa Payoh Central, the properties comprise a combined gross floor area of 7,384 sq ft.Singapore-based philanthropic organisation Lew Foundation is...

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万美元出售两处大巴窑组屋商业地产","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"DAPP":0.66,"EOI":1,"HDB":1.5,"ITE":1,"PIE":1,"SSD":1,"5OC.SI":1.5},"content_text":"Located at Block 190 Lorong 6 Toa Payoh and Block 178 Toa Payoh Central, the properties comprise a combined gross floor area of 7,384 sq ft.Singapore-based philanthropic organisation Lew Foundation is selling two Housing & Development Board (HDB) commercial properties at Toa Payoh Town Centre at a combined guide price of $40 million. \nLocated at Block 190 Lorong 6 Toa Payoh and Block 178 Toa Payoh Central, the properties comprise a combined gross floor area (GFA) of 7,384 sq ft and are being marketed through an expression of interest (EOI) exercise by Cushman & Wakefield. \nThe larger property at Block 190 Lorong 6 Toa Payoh has a remaining lease of about 45 years and comprises about 6,039 sq ft of ground-floor commercial space fully leased to tenants in the fast-food and beauty and wellness sectors. The asset also enjoys strong visibility and footfall from its 22m frontage along a busy pedestrian thoroughfare, according to Cushman & Wakefield. \n\nMeanwhile, the property at Block 178 Toa Payoh Central has a remaining lease of 44 years and spans 1,345 sq ft in GFA. The asset is a two-storey HDB shop with living quarters and is currently leased to a medical clinic. \nAccording to Cushman & Wakefield, the larger commercial unit is exempt from additional buyer's stamp duty (ABSD) and seller's stamp duty (SSD). Both properties are also eligible for purchase by foreigners and corporate entities. \nNearby developments to boost traffic \nBoth properties are located within walking distance of Toa Payoh MRT Station, the bus interchange and HDB Hub. They also benefit from strong foot traffic generated by residents, office workers and commuters, notes Cushman & Wakefield. \nThe area is also well-served by expressways, including the Central Expressway (CTE) and Pan Island Expressway (PIE), and is supported by a comprehensive mix of retail, food and beverage, healthcare and community amenities.\nThe properties could also benefit from the upcoming Toa Payoh Integrated Development, slated for completion by 2030. The project will include a 10,000-seat stadium, a 5,000-seat indoor sports hall, an aquatic centre, a polyclinic and a library. \nThe development is anticipated to increase visitor traffic and strengthen Toa Payoh's catchment population, adds Cushman & Wakefield. \n\"Large-format HDB commercial units are rarely available for sale in prime Toa Payoh heartland locations, particularly properties that can accommodate food and beverage operators, such as the unit at block 190 Lorong 6 Toa Payoh. Such F&B approval enhances the property's appeal to a broad range of occupiers and provides greater leasing flexibility for future owners,\" says Daphne Poh, director of capital markets at Cushman & Wakefield Singapore. \nCapital recycling into charitable initiatives\nThe sale is part of the Lew Foundation's efforts to recycle capital into charitable initiatives. Proceeds from the divestment will be progressively reinvested into programmes supporting vulnerable seniors and expanding opportunities for young people through education, skills development and social mobility programmes.\nEstablished in 2015 by Lew Chee Beng, Lew Foundation is a Singapore-based philanthropic organisation focused on empowering youths, supporting vulnerable seniors and strengthening communities. \nOne such initiative is the Lew Foundation Service-Learning Fund, a $600,000 commitment to support overseas learning opportunities for Institute of Technical Education (ITE) students through the Singapore International Foundation. \n\"Every young person deserves the opportunity to realise their potential, regardless of their starting point. Through this fund, ITE students can serve others while gaining life lessons that cannot be taught in a classroom,\" says Yeo Puay Hin, executive director of the Lew Foundation. \nThe EOI exercise will close at 3pm on Sept 28.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"isLaohu8Offline":false,"tenantId":"TBGLOBAL","deviceId":"web-server-community-laohu8-v3","version":"4.48.0","shortVersion":"4.48.0","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2662783162","isCrawlerRequest":true}