291 Serangoon Road is located over a corner plot and commands a 35-metre big dual frontage on to Serangoon Street and Burmah Highway.
Our listed website: Uptown At Farrer location
The house occupies a land location of 5,455 sf and spans an believed house of 19,913 sf. Principally primarily based on the Learn Plan 2014, the web-site is zoned “Commercial” using a Gross Plot Ratio of three.0.
291 Serangoon Street properties a food stuff 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 belongings.
The constructing contains a highly accessible area 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 near proximity, including Pan Island Expressway (PIE), Central Expressway (CTE) and East Coast Parkway (ECP).
With its excellent city fringe locale and strong transport infrastructure, the Farrer Park put has evolved into a bustling business and medical hub, well-served by a myriad of trendy F&B and lifestyle offerings.
The location is undergoing further rejuvenation with the development of several new developments including Centrium Square, a 19-storey industrial development comprising of retail, medical suites and office house; 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 residence was first launched accessible for acquire in September 2018 that has a guide price of $52 million. Upon the near of the EOI, we received a few offers which fell short of the owner’s expectation. The property was subsequently withdrawn from the marketplace.
With the improving office industry in Singapore, we are seeing more investors shift their focus back to the experienced sector. We feel that it is timely to put the house 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 skilled making in a bustling location 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. Found opposite 291 Serangoon Highway, the entire two-storey industrial podium at Centrium Square transacted at $135 million or all over $4,967 psf on strata location in July 2016.