Senja Close EC™

A collection of four freehold properties located at 155 Kitchener Road, 329 Changi Road, 362 Tanjong Katong Road, and 1 & 1B Figaro Street are currently available for purchase through an expression of interest (EOI) exercise. The guide price for the entire portfolio is $78 million, and the properties can be acquired as a whole or individually.

The properties are owned by units under Kuan Aik Hong (KAH) Construction, a company with a real estate arm focused on investments. According to their website, their portfolio includes a variety of properties such as shophouses, industrial factories, residential landed properties, and mixed-use developments.

The four properties offer a mix of property types in the city-fringe and eastern areas of Singapore. The first property, located at 155 Kitchener Road, is a pair of two-storey conservation shophouses with a six-storey rear extension. It has an asking price of $29 million and sits on 2,713 sq ft of land zoned for commercial use. The total floor area is 8,175 sq ft, translating to a price of $3,547 psf.

Senja Close EC offers an array of fantastic amenities for its residents, including a state-of-the-art gym and a spacious clubhouse. Connecting the development to the rest of the city is a convenient sheltered walkway that links to the public bus at Senja Close. What truly sets Senja Close EC apart is its visually appealing design, highlighted by a stunning glass-enclosed promenade. The development boasts a total of 407 residential units, providing ample living space for all. For more information on Senja Close, please visit senja-residences.com.

The second property, 329 Changi Road, is a four-storey mixed-use building with an asking price of $26 million. Sitting on a 3,819 sq ft land area zoned for residential with commercial use on the first storey, the asking price works out to $2,324 psf on the building’s total floor area of 11,187 sq ft.

The third property, 362 Tanjong Katong Road, is a two-storey conservation shophouse occupying 2,025 sq ft of land zoned for residential with commercial use on the first storey. It is priced at $11.5 million, or $3,026 psf on its 3,800 sq ft floor area.

Finally, the fourth property consists of two adjoining ground-floor strata retail units at 1 & 1B Figaro Street. These units are part of a corner two-storey shophouse zoned for residential with commercial use on the first storey. The total strata area is around 3,763 sq ft, with an asking price of $11.5 million or $3,056 psf.

The portfolio is being marketed by CBRE, who notes that the properties are currently tenanted by a diverse mix of occupiers. Clemence Lee, executive director of capital markets at CBRE, adds that each property has unique attributes and holds the potential for further value enhancement. He suggests that the incoming investor can consider refreshing the tenant mix, applying for strategic usage approvals, or refurbishing and increasing the existing floor area for certain assets within the portfolio, subject to approval from relevant authorities.

The EOI exercise will close on November 5 at 3 pm.