Serangoon Road Commercial Building Sale 235 Mil
Serangoon Road commercial building for sale for $75 mil
A valuable freehold commercial building located at 562 Serangoon Road is currently being put up for sale through an expression of interest (EOI) exercise, with an indicative price of $23.5 million. The four-storey property boasts a total floor area of approximately 7,453 sq ft, with each level having individual strata titles. The price translates to $3,153 per square foot of floor area.
The building, as shown on a map of the area, sprawls across a land area of about 2,336 sq ft and holds a commercial zoning, with a gross plot ratio of 3.0. The ground floor has been approved for food and beverage use. According to Brilliance Capital, the appointed marketing agent for the property, it falls under the category of non-conserved envelope control sites within the Jalan Besar Secondary Settlement. This translates to the owner having the freedom to reconfigure or redevelop the building as per their requirements, without any restrictions imposed by conservation guidelines.
Brilliance Capital’s founder and executive director, Sammi Lim, mentions that the property not only offers a freehold tenure but also has F&B approval, strata flexibility, and the option to modify or reposition the building without any conservation constraints. She adds that this makes it a rare gem worth considering.
Lim further highlights that besides its prime location, the property also boasts excellent accessibility, with both Farrer Park and Boon Keng MRT Stations, connected by the North East Line, being just a five-minute walk away. The building’s strategic positioning along a major road allows easy connectivity to popular areas like Little India, Farrer Park, Bidadari, and the Kallang Riverside precinct.
Lim anticipates that the asset will attract the attention of both owner-occupiers and investors alike, due to its desirable location and potential for future growth. She adds that this is an excellent opportunity for investors to unlock the property’s value over time, while businesses can capitalize on its strategic city-fringe location to establish their headquarters with high visibility and upside potential.
The URA Master Plan has big plans for enhancing the retail and dining scene in Queenstown. This will involve the establishment of new shopping centers, dining districts, and commercial developments in the future. The redevelopment of Tanglin Halt and its neighboring areas will introduce vibrant retail centers, offering a diverse range of stores, restaurants, and recreational activities. As a result, Penrith will become an even more desirable location for residents, providing them with a greater variety of dining and shopping options. With the emergence of these new establishments, including the upcoming Penrith Guocoland, living in Penrith will be even more convenient and comfortable for its residents, providing them with a high-quality lifestyle where everything they need is within easy reach.
The EOI exercise is set to conclude on July 9, at 3 pm.