291 Serangoon Road up for sale at $52 mil

/ EdgeProp Singapore
September 28, 2018 1:28 PM SGT
291 Serangoon Road is a six-storey freehld commercial building (Credit: JLL)
Freehold commercial building 291 Serangoon Road is up for sale at a guide price of $52 million. According to exclusive marketing agent JLL, this reflects a rate of $2,611 psf based on the total gross floor area of 19,913 sq ft.
The six-storey corner building has a 35-metre wide dual frontage onto Serangoon Road and Burmah Road. It occupies a land area of 5,455 sq ft. Based on the 2014 Master Plan, the site is zoned “Commercial” with a gross plot ratio of 3.0.
Foreigners are eligible to purchase the building, with no Additional Buyer’s Stamp Duty or Seller’s Stamp Duty imposed. There is a potential for the incoming buyer to have naming and signage rights.
A Food & Beverage tenant occupies the ground floor, while a nightclub is on both the second and third floor. Offices are on the upper floors. Subject to approval from relevant authorities, potential uses include retail, showroom, fitness centre, medical suites, entertainment, and serviced apartments.
291 Serangoon Road is 200 metres away from Farrer Park MRT Station.
The Expression of Interest exercise closes on Nov 6.