Parc Riviera Condo – West Coast Vale Condo by EL Development

Parc Riviera location

The EOI for the freehold, business building at 202 Serangoon Road closed on September 8, 2022.

Having garage within the structure is an included reward, observes Tan, particularly in a location like Little India Conservation Area where parking space is uncommon. Farrer Park MRT station as well as the City Square Mall is additionally within a five- to six-minute walk.

The property, five-storey commercial building at 202 Serangoon Road lies within a five-minute walk of the Farrer Park MRT terminal as well as the City Square Mall

The building comes with a restaurant/F & B licence. “The standalone building has a dual frontage along Serangoon Road and Hindoo Road,” he adds.

“There’s a lot of capitalist rate of interest– from both regional and also international entities– in industrial shophouses,” claims Tan. This is backed up by PropNex Research in its recent 2Q2022 report on the business shophouse market.

Presently, the building has a retail store on the initial degree and also a wedding event banquet organizer and occasion room on the upper floors, namely the Afi iki Palace. The structure will certainly be marketed with vacant ownership, claims Richard Tan, PropNex senior associate group area supervisor.

In the Serangoon Road area, units with F&B licensing can regulate rental rates of $8 to $10 psf per month, as well as upper floors at $4 psf each month, estimates PropNex’s Tan. The structure at 202 Serangoon Road will be sold with uninhabited belongings, he adds.

A five-storey building at 202 Serangoon Road has been offered by means of expression of passion (EOI) at the book cost of $48.8 million. The building sits on a property website of 5,626 sq ft and has a gross flooring area (GFA) of 16,733 sq ft.

The reserve cost converts to $2,916 psf based on GFA, claims Desi Desmiriarti and Alex Ho of PropNex Realty, the exclusive advertising and marketing firm for the building.

“With looming international economic headwinds, financiers are anticipated to continue to check out commercial shophouses as a defensive property with the ability to ride out unpredictable times,” says PropNex Research.

In 2Q022, there were 64 business shophouse manage an overall value of $481 million, according to PropNex Research. It is 23% more than the 52 transactions in 1Q2022, but 9.2% reduced q-o-q than the $531 million well worth of offers the previous quarter.

The structure comes with a restaurant/F & B permit. “The standalone structure has a dual frontage along Serangoon Road and also Hindoo Road,” he adds.

District 8 (Little India, Jalan Besar) recorded the greatest variety of transactions among the various areas. It accounted for 34 deals worth greater than $218 million in 2Q2022, wrecking the last document of 29 deals valued at $130 million in 2Q2013, according to PropNex Research.
More than 860 rental contracts worth $8.2 million were signed in 2Q2022. Mean month-to-month shophouse services remained to grow to $5.50 psf in 2Q2022, from $5.37 psf in 1Q2022.

The structure was redeveloped in 2004, as well as was refurbished lately. It includes a cellar, lift as well as 10 mechanical parking spaces. Currently, the structure has a retailer on the very first degree as well as a wedding reception organizer and occasion space on the upper floorings, namely the Afi iki Palace. The structure will certainly be offered with vacant property, states Richard Tan, PropNex elderly associate group district director.

Parc Riviera

The second-most lucrative offer for July 12 to 26 was located at The Shelford. The purchase was for a 2,174 sq ft, four-bedroom penthouse on the top floor of among the development’s five-storey blocks. The system was bought 13 years ago for $1.93 million ($ 888 psf), and just recently transformed hands for $4.15 million ($ 1,909 psf). For the seller, it converts to a gain of $2.22 million.

The 215-unit, freehold condo, positioned on Shelford Road in prime District 11, was created by CapitaLand as well as finished in 2005. The task is preferred with family members with school-going children, given its closeness to colleges such as Anglo-Chinese School (Junior), St Margaret’s Secondary School, Anglo-Chinese School (Primary) and Raffles Girls’ Primary School.

The Arcadia is a 10-storey condo project with simply 164 units. Three-bedroom devices are sized from 3,466 to 3,735 sq ft, while four-bedroom devices are sized from 3,714 to 4,672 sq ft. Meanwhile, penthouses are 7,503 sq ft, five-bedroom simplexes. The 99-year leasehold condo has a lease from 1979, with the project finished in 1983.

The 3,143 sq ft, four-bedroom penthouse at Top Ten transformed hands for $5.19 million ($ 1,650 psf), according to a caution on July 19. The unit was formerly bought for $1.75 million ($ 557 psf) in August 1999. It converts to a capital gain of $3.44 million or 196% after a 23-year holding period.

The second most unlucrative deal took location at the 70-unit, freehold CityVista Residences. Located at Peck Hay Road, simply off Clemenceau Avenue in prime District 9, the 20-storey condominium block was finished in 2010.

The most current transaction was for a 2,626 sq ft, four-bedroom system on the 12th floor that was sold for $4.95 million ($1,885 psf) on July 19. The system was last acquired for $6.83 million ($2,600 psf) at the height of the last property boom in 2007.

The Top Ten apartment or condo block lies at 134 Emerald Hill Road, amidst the conservation shophouses on Emerald Hill Road, just off Orchard Road on one side and Cairnhill Road on another. The task is located within prime District 9.

A 7,503 sq ft, penthouse at The Arcadia came to be one of the most unlucrative transaction for Jul 12-26, when it was sold for $7.7 million, $2.3 million lower than its $10 million acquisition cost 12 years back

The biggest capital gain was seen when a four-bedroom home at Top Ten, an apartment block at Emerald Hill Road changed hands for $5.2 million, at $3.43 million above the original purchase cost 23 years earlier

One of the most recent purchase was for a 2,626 sq ft, four-bedroom system on the 12th floor that was cost $4.95 million ($1,885 psf) on July 19. The unit was last bought for $6.83 million ($2,600 psf) at the peak of the last residential or commercial property boom in 2007. For this reason, the vendor saw the cost for the unit marked down by $1.88 million.

Large four-bedroom apartments as well as penthouses in the prime areas dominated the leaderboard in one of the most unprofitable and lucrative bargains over the two-week duration from July 12 to 26. The transaction that noted the most significant rate gain was for the greatest unit at Top Ten, an 11-unit, six-storey, freehold home block at Emerald Hill Road, integrated in 1978.

The most unprofitable purchase was for a 7,503 sq feet, five-bedroom penthouse at The Arcadia. The penthouse just recently transformed hands for $7.7 million ($1,026 psf), based upon a caution lodged on July 14. The unit was purchased in August 2010 for $10 million ($1,333 psf), which translates to a $2.3 million loss over a 12-year holding duration.

The system was formerly purchased for $1.75 million ($ 557 psf) in August 1999. The unit was purchased 13 years ago for $1.93 million ($ 888 psf), and also just recently changed hands for $4.15 million ($ 1,909 psf). The system was purchased in August 2010 for $10 million ($1,333 psf), which equates to a $2.3 million loss over a 12-year holding duration.

The project is located on Arcadia Road, off Adam Road in prime District 11.