In recent years, several rows of old shophouses in the Rangoon Road area have been replaced with new mixed-use developments that feature apartment units on the upper levels and shops on the first level. The mixed-use developments include the 27-unit Loft @ Rangoon by Oxley Holdings, completed in 2013; the 37-unit Suites 123 by Macly Group, completed in 2011; and the 50-unit Rangoon 88 and 24-unit Urban Lofts, both of which obtained Temporary Occupation Permit (TOP) in 2010.
The food outlets at these boutique freehold projects have interesting names such as The Cold Pantry, Ice Box Café, Jewel Café & Bar and Old Hen Coffee Bar.
Legendary Bak Kut Teh has been in the neighbourhood since 2011
Ng Ah Sio Bak Kut Teh has been operating out of the same shop since 1988
Shoebox apartments attract the young
Most of these apartment blocks feature compact one- and two-bedroom units. For instance, the latest transaction at Rangoon 88 was for a 592 sq ft one-bedder that was sold for $808,000 ($1,365 psf) in March. At Loft @ Rangoon, a 452 sq ft one-bedroom unit changed hands recently for $640,000 ($1,416 psf). Meanwhile, Suites 123 saw an 840 sq ft two-bedder traded at $1.1 million ($1,310 psf), according to a caveat lodged in November.
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“These new developments are a welcome change and bring a younger crowd — both expatriate and local,” says Sean Zhong, a division director at ERA Realty. “The area has also attracted young entrepreneurs setting up new retail and F&B businesses. The whole area has been rejuvenated.”
A couple of these new cafés have opted for the ground-floor units of the older shophouses. For example, Non-Entrée Desserts Café opened just a unit away from Ng Ah Sio Bak Kut Teh, while Brunches Café occupies the shop unit next to Rangoon 88.
The area is also a draw because of the amenities in the vicinity and its city-fringe location, being just a five- to 10-minute drive to the CBD and Orchard Road, adds Zhong. Little India is nearby, with its wide range of eateries and shops as well as the popular 24-hour shopping mall, Mustafa Centre.
Located off Rangoon Road is Mergui Road, where new freehold condominium projects include the recently completed 106-unit Forte Suites by boutique developer JForte Holdings, and the 250-unit Cityscape @ Farrer Park, jointly developed by KSH Holdings and IOI Group, which was completed last year.
Forte Suites is said to be 77% sold, with recent units sold at prices ranging from $1,800 to $1,900 psf. A number of two- and three-bedroom units of 603 to 700 sq ft were recently leased at monthly rents of $4,000 to $4,200, according to the developer.
Forte Suites by J Forte Group is the latest development to be completed in the Rangoon Road area. The freehold 106-unit development was completed in September.
Brunches Café and Icebox Café offer a mix of Western cuisine, coffee and cakes throughout the day
The 48-unit Rangoon 88 by Kay Lim Holdings was completed in 2014. Located on level 1 are F&B outlets such as Old Hen Coffee Bar, Mookata Home Thai Kitchen and The Cold Pantry.
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Old Hen Coffee Bar, Jewel Café & Bar and Non-Entrée Desserts Café
Loft @ Rangoon, a freehold 27-unit development by Oxley Holdings, was completed in 2013
Suites 123, a 37-unit development by Macly Assets, was completed in 2011
Urban Lofts by Ascender Capital, a 50-unit freehold development, was completed in 2010
Farrer Park area
What has also attracted both investors and owner-occupiers to the Rangoon Road neighbourhood is its proximity to Farrer Park, where new amenities have sprung up around the MRT station.
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Linked to the Farrer Park MRT station is a new medical hub. Connexion, developed by The Farrer Park Company, is an integrated 16-storey complex comprising the Farrer Park Medical Centre, a telemedicine centre, a specialists’ centre, the Farrer Park Hospital, One Farrer Hotel and Spa as well as a retail and lifestyle centre.
Complementing Connexion is the upcoming Farrer Square located across Farrer Park Station Road, which will also be linked to the MRT station. The mixed-use project developed by RB Capital contains strata medical suites as well as a 300-key business hotel managed by Park Hotel Group.
Closer to Serangoon Road and Jalan Besar is City Square Mall, which has about 700,000 sq ft of retail space — equivalent to the size of Ngee Ann City. The mall is connected to the Farrer Park MRT station as well. Adjacent to the mall is the freehold 910-unit City Square Residences by City Developments, which was completed in 2009. The project has been very popular with investors, given its location. In November, a 1,216 sq ft, three-bedroom unit changed hands for $1.6 million ($1,324 psf).
City Square Mall is a 15-minute walk from Forte Suites and linked to the Farrer Park MRT station
New developments coming up in the Jalan Besar area include the 305-unit Sturdee Residence, a 99-year leasehold project developed jointly by Sustained Land, Kwong Lee, Ho Lee Group and Goodland Group. As at end-October, 192 units were sold, at a median price of $1,628 psf. Next door is a boutique development called The Citron by Goodland Group. Scheduled for completion in 2019, the 54-unit project is fully sold.
The vibrant Rangoon Road area — with its eclectic mix of old and new retail, lifestyle and F&B offerings — and its vicinity is becoming increasingly interesting, says ERA’s Zhong.
This article appeared in The Edge Property Pullout, Issue 758 (Dec 12, 2016) of The Edge Singapore.