Freehold business constructing all around Farrer Park MRT on the market

291 Serangoon Highway is found which has a corner plot and guidelines a 35-metre vast twin frontage on to Serangoon Highway and Burmah Highway.

Must watch: Uptown At Farrer price

The residence occupies a land space of five,455 sf and spans an believed location of 19,913 sf. Dependent on the Learn Software 2014, the web-site is zoned “Commercial” by making use of a Gross Plot Ratio of three.0.

291 Serangoon Highway residences a foodstuff 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 dwelling.

The producing has a highly accessible location that is 200 metres from Farrer Park MRT Station and a short 10-minute drive to the Central Business District (CBD). Major expressways are found in close 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 area has evolved into a bustling company 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 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 property was first launched on the current market in September 2018 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 The house was subsequently withdrawn from the market.

With the improving office current market in Singapore, we are seeing more investors shift their focus back to the business sector. We feel that it is timely to put the property 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 constructing in a bustling location undergoing rejuvenation and gentrification.”

The latest transaction in the vicinity is Wanderlust Hotel, which transacted at $37 million or all over $2,466 psf on GFA in April 2018. Located opposite 291 Serangoon Street, the entire two-storey professional podium at Centrium Square transacted at $135 million or all around $4,967 psf on strata place in July 2016.