291 Serangoon Road is situated on the corner plot and recommendations a 35-metre huge twin frontage on to Serangoon Road and Burmah Highway.
Must watch: Uptown At Farrer showflat
The residence occupies a land house of 5,455 sf and spans an approximated site of 19,913 sf. Dependent on the Grasp Approach 2014, the web-site is zoned “Commercial” using a Gross Plot Ratio of a few.0.
291 Serangoon Road qualities a meals objects 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 house.
The organising has a highly accessible place that is 200 metres from Farrer Park MRT Station and a short 10-minute drive to the Central Business enterprise District (CBD). Major expressways are found in near 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 region has evolved into a bustling industrial and medical hub, well-served by a myriad of trendy F&B and lifestyle offerings.
The region is undergoing further rejuvenation with the development of several new developments including Centrium Square, a 19-storey commercial 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 residence operated by lyf Farrer Park Singapore.
Mr Clemence Lee, Senior Director, JLL, says: “The home was first launched available available in September 2018 by using 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 The household was subsequently withdrawn from the sector.
With the improving office current market in Singapore, we are seeing more investors shift their focus back to the business enterprise sector. We feel that it is timely to put the residence into the sector 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 constructing in a bustling region 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 Highway, the entire two-storey professional podium at Centrium Square transacted at $135 million or all-around $4,967 psf on strata area in July 2016.