The buildings sit on a 9,042 sq ft site that is zoned for commercial use with a gross story ratio of 3.0 under the most recent Master Plan. Therefore, the brand-new owner has the choice to redevelop the website into a six-storey business building with a gross floor area of up to 27,125 sq ft, states PropNex.
Farrer Park MRT Station on the North-East Line is less than 200m from the row of shophouses.
EdgeProp’s Landlens tool checklists close-by current launches in addition to approaching projects in the area. Over the past three years, there were 2 new jobs introduced in the location around the shiphouses up for sale. The map highlights one of six shophouses in the profile available.
According to journalism release from PropNex Realty, the ground-floor devices of the shophouses are presently leased to numerous F&B operators, while the 2nd floor units are rented to public home entertainment operators.
“We expect the portfolio of shophouses to bring in solid passion as it is unusual to discover such property, business possessions that delight in excellent presence, hefty pedestrian website traffic, and close proximity to an MRT terminal,” says Tracy Goh, head of financial investment and cumulative sales at PropNex.
The shophouses are next to Centrium Square as well as are opposite City Square Mall. Neighboring developments include going shopping centres such as Mustafa Centre, resorts such as Parkroyal on Kitchener Road and Holiday Inn Singapore Little India, in addition to Farrer Park Hospital.
She includes that these features will certainly sustain the rental earnings development as well as continued funding gratitude of these residential or commercial properties. “Foreigners, high-net-worth individuals as well as family members workplaces will locate this property appealing as the extra buyer’s stamp obligation and also seller’s stamp responsibility are not payable for commercial properties,” she claims.
The tender for this profile of residential properties will certainly close on Sept 9.
EdgeProp’s Landlens tool checklists neighboring current launches as well as future jobs in the location. Over the past three years, there were two new jobs introduced in the location around the shiphouses for sale. The map highlights one of six shophouses in the profile for sale.
A portfolio of 6 freehold shophouses on Serangoon Road will be offered jointly with a guide rate of $63 million in a tender on Aug 2. The properties are marketed by PropNex Realty.
The 6 adjacent residential properties are located at 322– 332 Serangoon Road in District 8. The two-storey shophouses are located at the junction of Serangoon Road and Kitchener Road, and enjoy double street frontage along both roads.
