The tender for this portfolio of properties will close on Sept 9.
“We anticipate the portfolio of shophouses to draw in strong interest as it is rare to discover such freehold, industrial properties that take pleasure in fantastic presence, hefty pedestrian traffic, and also close distance to an MRT station,” says Tracy Goh, head of investment and cumulative sales at PropNex.
The shophouses are beside Centrium Square and are contrary City Square Mall. Neighboring developments include going shopping centres such as Mustafa Centre, hotels such as Parkroyal on Kitchener Road as well as Holiday Inn Singapore Little India, along with Farrer Park Hospital.
She includes that these attributes will certainly sustain the rental earnings development and also proceeded resources recognition of these residential properties. “Foreigners, high-net-worth people and family offices will certainly find this property attractive as the added customer’s stamp duty as well as vendor’s stamp task are not payable for commercial properties,” she claims.
According to journalism launch from PropNex Realty, the ground-floor devices of the shophouses are presently rented to several F&B operators, while the 2nd floor systems are leased to public enjoyment operators.
The buildings sit on a 9,042 sq ft site that is zoned for commercial use with a gross story ratio of 3.0 under the most up to date Master Plan. As a result, the new owner has the option to redevelop the website into a six-storey business building with a gross floor location of up to 27,125 sq ft, states PropNex.
EdgeProp’s Landlens device lists nearby current launches as well as approaching jobs in the location. Over the previous 3 years, there were two new tasks introduced in the location around the shiphouses for sale. The map highlights one of six shophouses in the portfolio for sale.
A profile of 6 freehold shophouses on Serangoon Road will certainly be put up for sale collectively with an overview cost of $63 million in a tender on Aug 2. The buildings are marketed by PropNex Realty.
The six adjoining residential properties are located at 322– 332 Serangoon Road in District 8. The two-storey shophouses lie at the joint of Serangoon Road and Kitchener Road, and also enjoy double street frontage along both roadways.
Farrer Park MRT Station on the North-East Line is less than 200m from the row of shophouses.
EdgeProp’s Landlens tool checklists neighboring current launches in addition to future jobs in the location. Over the past 3 years, there were two brand-new jobs released in the area around the shiphouses available for sale. The map highlights one of six shophouses in the portfolio to buy.