Freehold industrial producing close to Farrer Park MRT readily available for invest in

291 Serangoon Highway is found over a corner plot and recommendations a 35-metre extensive twin frontage on to Serangoon Street and Burmah Highway.

Our listed website: Uptown At Farrer price

The residence occupies a land space of five,455 sf and spans an estimated house of 19,913 sf. Primarily centered on the Find out Technique 2014, the world-wide-web web page is zoned “Commercial” through the use of a Gross Plot Ratio of a few.0.

291 Serangoon Road homes a foodstuff and beverage (F&B) tenant on the ground floor, a night club on the second and third floor, as well as offices on the upper floors. Subject to approval from relevant authorities, potential uses include retail, showroom, fitness centre, medical suites, entertainment and serviced apartments, amongst others. The incoming owner has potential naming and signage rights for the property.

The earning features a highly accessible site that is 200 metres from Farrer Park MRT Station and a short 10-minute drive to the Central Enterprise District (CBD). Major expressways are positioned in close proximity, including Pan Island Expressway (PIE), Central Expressway (CTE) and East Coast Parkway (ECP).

With its excellent city fringe location and strong transport infrastructure, the Farrer Park locale has evolved into a bustling business and medical hub, well-served by a myriad of trendy F&B and lifestyle offerings.

The spot is undergoing further rejuvenation with the development of several new developments including Centrium Square, a 19-storey experienced development comprising of retail, medical suites and office area; Uptown @ Farrer, a mixed-use development by Low Kheng Huat, which will consist of retail, residential; and a 240-unit serviced home operated by lyf Farrer Park Singapore.

Mr Clemence Lee, Senior Director, JLL, says: “The property was first launched readily available in September 2018 employing a guide price of $52 million. Upon the close of the EOI, we received a few offers which fell short of the owner’s expectation. The residence was subsequently withdrawn from the current market.

With the improving office sector in Singapore, we are seeing more investors shift their focus back to the professional sector. We feel that it is timely to put the assets into the industry again to offer buyers another chance to reconsider this exceptional opportunity. With the pricing lowered to between $46 to $49 million, we expect strong interest from both investors and owner occupiers who are looking to acquire a centrally-located freehold qualified acquiring in a bustling spot undergoing rejuvenation and gentrification.”

The latest transaction in the vicinity is Wanderlust Hotel, which transacted at $37 million or all-around $2,466 psf on GFA in April 2018. Positioned opposite 291 Serangoon Freeway, the entire two-storey industrial podium at Centrium Square transacted at $135 million or about $4,967 psf on strata place in July 2016.