SINGAPORE (EDGEPROP) - Three adjoining conservation shophouses at 3 Roberts Lane in Farrer Park (District 8) have been put up for sale by an expression of interest (EOI) exercise. The freehold shophouses have a guide price of $19 million. With a combined gross floor area of about 10,474 sq ft, this works out to $1,814 psf.

Located within the Jalan Besar Conservation Area, the shophouses occupy a combined land area of 3,009 sq ft. They comprise two storeys and come with a basement, mezzanine and six-storey rear extension. They have triple frontage along Serangoon Road, Roberts Lane and Kinta Road. The shophouses are also within walking distance of the Farrer Park MRT Station on the North East Line.

The prospective owner will have the opportunity to acquire naming rights for the shophouse, says Tania Ong, senior manager of capital markets at Knight Frank, who is marketing the properties.

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“The new owner may upgrade the shophouses with asset enhancement initiatives, and subject to authorities’ approval, explore tenant repositioning by conversion to F&B use on the ground floor,” Ong adds.

The EOI exercise closes on Aug 13 at 3pm.