>

>

999-year commercial building in Farrer Park on sale for $20 mil

/ EdgeProp Singapore |

January 30, 2023 1:58 PM SGT

The vacant property has a total floor area of about 8,890 sq ft. (Picture: CBRE)

SINGAPORE (EDGEPROP) - A four-storey commercial building at 466 Serangoon Road, close to Farrer Park MRT Station, is up for sale for $20 million. The sole marketing agent is CBRE Singapore.

Read also: Sultan Plaza relaunches for collective sale with a lower reserve price of $325 mil

The property is located within the Jalan Besar Conservation Area, which covers the Farrer Park and Little India areas. Nearby significant commercial developments include City Square Mall, Connexion, Centrium Square, Uptown @ Farrer, Lyf at Farrer, and the upcoming Piccadilly Grand integrated development along Northumberland Road.

The property is on a 2,236 sq ft site with a prominent road frontage along Serangoon Road. The site has a 999-year tenure that started in 1860. The property has a total floor area of about 8,890 sq ft, including the covered walkway and a private car park with three parking lots.

CBR says the vacant property could come with naming and signage rights. As a result, the guide price translates to approximately $2,250 psf on the floor area. Since it is a commercial property, foreigners are eligible to purchase it, and no additional buyer's stamp duty or seller's stamp duty will be imposed on the transaction. (Find Singapore commercial properties with our commercial directory)

“(The property) represents a superb opportunity for prospective buyers to own a 999-year commercial building with a palatable investment quantum in an exciting city-fringe location, supported by strong transportation infrastructure,” says Clemence Lee, executive director of capital markets, Singapore, at CBRE.

He adds that this asset will be “ideal for an incoming buyer looking to capitalise on the area’s growth and potential for capital and rental upsides going forward”.

The sale will be conducted through expression of interest, which closes on March 7.

Check out the latest listings near Serangoon Road, City Square Mall, Connexion, Centrium Square, Uptown @ Farrer, Piccadilly Grand, Farrer Park MRT Station

Tags:

For Sale commercial building Farrer Park 999-year leasehold

Follow Us

Follow our channels to receive property news updates 24/7 round the clock.

Subscribe to our newsletter

Top Articles

1

Perennial Holdings and Far East Organization unveil Golden Mile Singapore, and will launch the strata commercial units this month

2

Government ramps up private housing supply; offers three EC sites on Confirmed List

3

Novo Place hits 88.1% as 137 units snapped up in second balloting

4

Project Spotlight: This condo in Ang Mo Kio has 241 profitable and no unprofitable transactions

5

What’s next for Bayshore

Our Site

Follow Us

Property Research

Condos

HDBs

Landed

Commercial

Industrial

Properties For Sale

Properties For Rent

Edgeprop.sg (previously known as The Edge Property Singapore) is the best property portal for real estate agents, investors, home-seekers and sellers alike in Singapore. On EdgeProp, you will be able to find the latest and hottest property news, property listings, and access tools for your research and analysis.

Whether you are looking to buy, sell or rent apartments, condominiums, executive condos, HDBs, landed houses, commercial properties or industrial properties, we bring you Singapore’s most comprehensive and up-to-date property news and thousands of listings to facilitate your property decisions. Click into any listing to check out the new AI Redesign tool to envision your property based on your preferred style, be it Scandinavian, Minimalist or many others.

Make data-driven property decisions with our easy-to-use free and paid tools. The Edge Fair Value tool lets users calculate the fair value of a property, while the En Bloc Calculator helps to determine the probability of a Singapore project being put up for collective sale. Our whole new Research tool provides you data on past transactions, price trends, and more for condos, HDBs, landed houses, commercial properties and industrial properties.

Aside from that, EdgeProp also offers a market trends tracker that lets you access historical property data, sales volume and compare how similar properties are selling, a heatmap that shows you where Singapore’s most popular property sales locations are, a HDB lease tool to calculate your HDB tenure, an affordability calculator, and property alerts to track your preferred Singapore property by project or location, as well as information on new launches.

On the lookout for undervalued property or looking to rent? EdgeProp’s powerful search filters will let you personalise your property-seeking experience – whether you are looking for a property near MRT stations, amenities like schools, or within a HDB Estate or District – so that you find exactly what you are looking for.

View More

Close Ad

00:00