Six-storey freehold building in Farrer Park on the market for $16.8 mil
/ EdgeProp Singapore |
A freehold six-storey building comprising a retail ground floor unit and residential units has been put up for auction at $16.8 million (Photo: ERA Singapore)
SINGAPORE (EDGEPROP) - A six-storey building on Roberts Lane, located off Serangoon Road in District 8, will be put up for auction again by ERA Singapore on Sept 26. It is the second time that the property will come under the hammer.
It debuted at ERA’s auction on Aug 22 at a guide price of $16.8 million, translating to a psf price of $2,272 based on the building’s total gross floor area of 7,395 sq ft. The guide price for this upcoming remains at $16.8 million.
The freehold building has a land area of about 2,003 sq ft and enjoys prominent road frontage, with roadside parking available. According to the URA Master Plan 2019, the site is zoned for residential use with commercial use on the ground floor and a plot ratio of 3.5.
The building has six residential units (Photo: ERA Singapore)
The building has a shop on the ground floor, while the upper floors house five strata-titled residential units, one on each floor. A lift serves all floors in the development. The entire building is currently tenanted, although it can be sold with vacant possession, says says Alison Lee, ERA’s head of auction.
The owner purchased the property en bloc in 2013. According to a caveat lodged then, the property fetched $9 million. Based on the total strata area of 6,781 psf, the price translates to $1,327 psf.
The building is a four-minute walk from the Farrer Park MRT Station on the Northeast Line. It is close to City Square Mall and Mustafa Centre as well as Connexion integrated healthcare and hospitality complex.
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