Freehold industrial starting close to Farrer Park MRT for sale

291 Serangoon Freeway is found over a corner plot and instructions a 35-metre massive twin frontage on to Serangoon Street and Burmah Freeway.

Visit this: Uptown At Farrer location

The home occupies a land place of 5,455 sf and spans an thought location of 19,913 sf. Centered on the Master Tactic 2014, the web site is zoned “Commercial” by making use of a Gross Plot Ratio of 3.0.

291 Serangoon Avenue residences a foodstuff and beverage (F&B) tenant on the ground floor, a night club on the second and third floor, as well as offices on the upper floors. Subject to approval from relevant authorities, potential uses include retail, showroom, fitness centre, medical suites, entertainment and serviced apartments, amongst others. The incoming owner has potential naming and signage rights for the belongings.

The establishing incorporates a highly accessible location that is 200 metres from Farrer Park MRT Station and a short 10-minute drive to the Central Business District (CBD). Major expressways are found in shut proximity, including Pan Island Expressway (PIE), Central Expressway (CTE) and East Coast Parkway (ECP).

With its excellent city fringe site and strong transport infrastructure, the Farrer Park position has evolved into a bustling professional and medical hub, well-served by a myriad of trendy F&B and lifestyle offerings.

The area is undergoing further rejuvenation with the development of several new developments including Centrium Square, a 19-storey specialist development comprising of retail, medical suites and office place; Uptown @ Farrer, a mixed-use development by Low Kheng Huat, which will consist of retail, residential; and a 240-unit serviced residence operated by lyf Farrer Park Singapore.

Mr Clemence Lee, Senior Director, JLL, says: “The residence was first launched accessible for obtain in September 2018 that has a guide price of $52 million. Upon the near of the EOI, we received a few offers which fell short of the owner’s expectation. The property was subsequently withdrawn from the marketplace.

With the improving office industry in Singapore, we are seeing more investors shift their focus back to the commercial sector. We feel that it is timely to put the house into the market again to offer buyers another chance to reconsider this exceptional opportunity. With the pricing lowered to between $46 to $49 million, we expect strong interest from both investors and owner occupiers who are looking to acquire a centrally-located freehold industrial creating in a bustling house undergoing rejuvenation and gentrification.”

The latest transaction in the vicinity is Wanderlust Hotel, which transacted at $37 million or close to $2,466 psf on GFA in April 2018. Observed opposite 291 Serangoon Road, the entire two-storey industrial podium at Centrium Square transacted at $135 million or close to $4,967 psf on strata region in July 2016.