SINGAPORE (EDGEPROP) - A freehold building at Upper Serangoon Road is on the market for $7.6 million. CBRE is the sole marketing agent for the sale of the property, which will be via public tender. (See also: Three freehold residential buildings at Mount Emily Road for sale at $18 mil)

The three-storey residential building at 543/543A/545/545A Upper Serangoon Road sits on a regularly shaped plot of 4,072 sq ft. The property comprises four strata-titled units with a total gross floor area (GFA) of 8,928 sq ft. It enjoys a prominent street frontage of 18.3m along Upper Serangoon Road in District 19.

The property is in a low-rise residential enclave, and is close to Serangoon MRT Interchange Station and Nex shopping mall. Nearby amenities include Chomp Chomp Food Centre and myVillage at Serangoon Gardens.

The development charge payable to redevelop the new building back to its existing GFA is estimated to be $1.73 million, subject to the authorities’ confirmation on the development baseline and prevailing development charge rates. Thus, the guide price translates to about $1,045 psf per plot ratio.

The site can be redeveloped into a serviced apartment with a building height of up to five storeys, says CBRE. The new property may also be converted for co-living, a childcare centre, or a hostel, subject to evaluation by the authorities.

Check out the latest listings near Upper Serangoon Road, Serangoon MRT Interchange Station