Portfolio of six freehold shophouses on Serangoon Road for sale at $63 mil

The structures remain on a 9,042 sq ft site that is zoned for commercial usage with a gross story proportion of 3.0 under the current Master Plan. Consequently, the new proprietor has the choice to redevelop the site right into a six-storey commercial structure with a gross floor area of approximately 27,125 sq ft, states PropNex.

She adds that these features will sustain the rental earnings development as well as proceeded funding admiration of these buildings. “Foreigners, high-net-worth people and household workplaces will find this possession attractive as the additional customer’s stamp responsibility as well as vendor’s stamp obligation are not payable for industrial properties,” she states.

EdgeProp’s Landlens tool checklists nearby recent launches as well as future projects in the area. Over the past three years, there were two new jobs introduced in the area around the shiphouses for sale. The map highlights one of 6 shophouses in the portfolio for sale.

Marina Gardens Lane Residences Site Plan

According to journalism release from PropNex Realty, the ground-floor units of the shophouses are currently leased to a number of F&B operators, while the 2nd flooring units are leased to public home entertainment drivers.

The tender for this portfolio of residential or commercial properties will close on Sept 9.

“We expect the profile of shophouses to attract strong rate of interest as it is uncommon to find such property, commercial properties that delight in great visibility, heavy pedestrian web traffic, as well as close proximity to an MRT station,” states Tracy Goh, head of investment as well as cumulative sales at PropNex.

The shophouses are alongside Centrium Square and also are opposite City Square Mall. Nearby growths consist of going shopping centres such as Mustafa Centre, hotels such as Parkroyal on Kitchener Road and Holiday Inn Singapore Little India, along with Farrer Park Hospital.

A portfolio of six property shophouses on Serangoon Road will be offered jointly with a guide cost of $63 million in a tender on Aug 2. The properties are marketed by PropNex Realty.
The six adjacent properties are located at 322– 332 Serangoon Road in District 8. The two-storey shophouses lie at the joint of Serangoon Road as well as Kitchener Road, as well as enjoy dual street frontage along both roads.

Farrer Park MRT Station on the North-East Line is less than 200m from the row of shophouses.
EdgeProp’s Landlens device lists close-by recent launches along with upcoming tasks in the area. Over the past three years, there were 2 new projects introduced in the location around the shiphouses for sale. The map highlights among six shophouses in the portfolio up for sale.