Written Answer by Ministry of National Development on year and price which HDB sold the coffeeshop at Blk 201 Tampines Street 21

Jul 5, 2022

Ms Hazel Poa: To ask the Minister for National Development regarding the coffeeshop located at Blk 201 Tampines Street 21 that recently transacted at $41.68 million (a) in which year did HDB sell the coffeeshop; and (b) at what price did HDB sell it for.

Answer:

1          This coffeeshop was sold to the sitting tenant in October 1992, at $3,451,200. This unit has not been sold since then, and this will be its first resale transaction.

2          The coffeeshop is located in Tampines Neighbourhood 2 Neighbourhood Centre, comprising Blks 201-201G Tampines Street 21. This Neighbourhood Centre has a total of 4 sold coffeeshops, and there is another rental coffeeshop located across the road at Blk 264. There is a sufficient supply of coffeeshops in the vicinity to maintain healthy competition, and nearby alternative options for stallholders and customers.

3          HDB will continue to ensure a good supply of coffeeshops to create competition and help keep food prices affordable. For example, 34 coffeeshops have been completed in the past 4 years, and another 30 will be completing by 2025.