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

Senja Residences Finance

She adds that these qualities will certainly sustain the rental earnings growth and proceeded capital admiration of these residential or commercial properties. “Foreigners, high-net-worth individuals and also family members offices will discover this asset appealing as the extra purchaser’s stamp duty and vendor’s stamp duty are not payable for industrial residential or commercial properties,” she claims.

A profile of 6 property shophouses on Serangoon Road will be put up for sale jointly with a guide cost of $63 million in a tender on Aug 2. The properties are marketed by PropNex Realty.
The six adjoining residential properties lie at 322– 332 Serangoon Road in District 8. The two-storey shophouses lie at the joint of Serangoon Road and Kitchener Road, as well as take pleasure in double road frontage along both roads.

The buildings sit on a 9,042 sq ft site that is zoned for business usage with a gross plot ratio of 3.0 under the latest Master Plan. Therefore, the new owner has the alternative to redevelop the site right into a six-storey industrial structure with a gross flooring location of approximately 27,125 sq ft, claims PropNex.

According to the press launch from PropNex Realty, the ground-floor systems of the shophouses are presently leased to a number of F&B operators, while the second flooring systems are leased to public home entertainment operators.

“We anticipate the profile of shophouses to draw in solid interest as it is uncommon to find such freehold, industrial possessions that take pleasure in great exposure, heavy pedestrian web traffic, and also close closeness to an MRT terminal,” says Tracy Goh, head of investment and also cumulative sales at PropNex.

EdgeProp’s Landlens tool listings close-by recent launches as well as future jobs in the location. Over the previous three years, there were two brand-new projects released in the location around the shiphouses for sale. The map highlights one of six shophouses in the portfolio for sale.

The shophouses are beside Centrium Square and are contrary City Square Mall. Close-by developments consist of going shopping centres such as Mustafa Centre, resorts such as Parkroyal on Kitchener Road and Holiday Inn Singapore Little India, in addition to Farrer Park Hospital.

The tender for this portfolio of properties will certainly close on Sept 9.

Farrer Park MRT Station on the North-East Line is less than 200m from the row of shophouses.
EdgeProp’s Landlens tool checklists close-by current launches as well as forthcoming tasks in the area. Over the past three years, there were 2 brand-new jobs released in the area around the shiphouses to buy. The map highlights among six shophouses in the profile up for sale.

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