Freehold professional creating in the vicinity of Farrer Park MRT available

291 Serangoon Street is situated about a corner plot and instructions a 35-metre big twin frontage on to Serangoon Road and Burmah Road.

Put forward: Uptown At Farrer location

The home occupies a land area of 5,455 sf and spans an believed place of 19,913 sf. Centered on the Learn Method 2014, the web site is zoned “Commercial” using a Gross Plot Ratio of 3.0.

291 Serangoon Street residences a food items things 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 residence.

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

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

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

Mr Clemence Lee, Senior Director, JLL, says: “The assets was first launched accessible in September 2018 which has a guide price of $52 million. Upon the shut 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 The residence was subsequently withdrawn from the current market.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 current market in Singapore, we are seeing more investors shift their focus back to the industrial sector. We feel that it is timely to put the house into the marketplace 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 industrial creating in a bustling site 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. Located opposite 291 Serangoon Avenue, the entire two-storey industrial podium at Centrium Square transacted at $135 million or all around $4,967 psf on strata put in July 2016.

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