291 Serangoon Highway is located that has a corner plot and instructions a 35-metre wide twin frontage on to Serangoon Highway and Burmah Road.
Visit this: Uptown At Farrer showflat
The house occupies a land location of five,455 sf and spans an believed put of 19,913 sf. Centered primarily on the Grasp Prepare 2014, the world wide web web-site is zoned “Commercial” which has a Gross Plot Ratio of three.0.
291 Serangoon Highway residences a meals 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 home.
The constructing features a highly accessible place that is 200 metres from Farrer Park MRT Station and a short 10-minute drive to the Central Small business District (CBD). Major expressways are positioned in close proximity, including Pan Island Expressway (PIE), Central Expressway (CTE) and East Coast Parkway (ECP).
With its excellent city fringe locale and strong transport infrastructure, the Farrer Park place has evolved into a bustling expert and medical hub, well-served by a myriad of trendy F&B and lifestyle offerings.
The spot is undergoing further rejuvenation with the development of several new developments including Centrium Square, a 19-storey business development comprising of retail, medical suites and office space; Uptown @ Farrer, a mixed-use development by Low Kheng Huat, which will consist of retail, residential; and a 240-unit serviced home operated by lyf Farrer Park Singapore.
Mr Clemence Lee, Senior Director, JLL, says: “The home was first launched obtainable for obtain in September 2018 which has a guide price of $52 million. Upon the shut of the EOI, we received a few offers which fell short of the owner’s expectation. The dwelling was subsequently withdrawn from the marketplace.
With the improving office sector in Singapore, we are seeing more investors shift their focus back to the experienced sector. We feel that it is timely to put the belongings into the marketplace 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 experienced constructing in a bustling region undergoing rejuvenation and gentrification.”
The latest transaction in the vicinity is Wanderlust Hotel, which transacted at $37 million or around $2,466 psf on GFA in April 2018. Located opposite 291 Serangoon Highway, the entire two-storey qualified podium at Centrium Square transacted at $135 million or all around $4,967 psf on strata spot in July 2016.