291 Serangoon Avenue is situated by using a corner plot and recommendations a 35-metre wide twin frontage on to Serangoon Highway and Burmah Freeway.
Our listed website: Uptown At Farrer location
The property occupies a land site of 5,455 sf and spans an believed location of 19,913 sf. Centered on the Learn Approach 2014, the web site is zoned “Commercial” with a Gross Plot Ratio of three.0.
291 Serangoon Avenue properties 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 assets.
The constructing incorporates a highly accessible place that is 200 metres from Farrer Park MRT Station and a short 10-minute drive to the Central Company District (CBD). Major expressways are discovered in near proximity, including Pan Island Expressway (PIE), Central Expressway (CTE) and East Coast Parkway (ECP).
With its excellent city fringe location and strong transport infrastructure, the Farrer Park place 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 commercial 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 dwelling was first launched on the sector in September 2018 which 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 The home was subsequently withdrawn from the sector.
With the improving office industry in Singapore, we are seeing more investors shift their focus back to the business sector. We feel that it is timely to put the property into the market place 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 establishing in a bustling location undergoing rejuvenation and gentrification.”
The latest transaction in the vicinity is Wanderlust Hotel, which transacted at $37 million or all over $2,466 psf on GFA in April 2018. Discovered 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 location in July 2016.