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Shophouses in Serangoon Road. Photo from PropNex.

Shophouses, residential building up for tender on 2 August: PropNex

Tender sales for the properties will close on 9 and 7 September, respectively.

PropNex will be launching on 2 August two sale tenders for a portfolio of six freehold shophouses along Serangoon Road and a collective sale of a freehold residential building at 62 Wilkie Road.

In a statement, PropNex said the six adjoining freehold shophouses at 322 to 332 Serangoon Road will have a guide price of $32m. 

It said that the six two-storey houses are fully leased to Eating House and food and beverage operators such as ABC Nasi Kandar and Chinese eateries on the ground floor. The second level is fully-leased to public entertainment operators.

The six shophouses have a land area of about 9,042 square feet with a gross plot ratio of 3.0 under the URA Master Plan 2019. The site can be redeveloped into a six-storey commercial building with a gross floor area of 27,125 sq ft.

READ MORE: Chart of the day: Residential sector overtakes commercial property in investment sales

With the 27,125 sq. ft. gross floor area, the $63m guide price will work out to $2.344 per square foot per plot ratio.

The shophouses are next to the new Centrium Square and opposite the City Square Mall. It is also less than 200 metres from the Farrer Park MRT Station on the North-East Line across the road.

The bidding deadline for the six shophouses is on 9 September at 2 pm.

62 Wilkie Road. Photo from PropNex.

Meanwhile, the residential building at 62 Wilkie Road composed of three duplex apartments has an indicative price of $9.2m, or $1,644 per sq. ft. based on total strata area of 5,597 sq. ft.

The property sits on a freehold site of 2,542.2 sq. ft. and is intended for residential use with a gross plot ratio of 2.1 under the URA Master Plan 2019.

PropNex said it is located in the city centre, within walking distance to MRT stations Dhoby Ghaut, Bencoolen, Little India, ROchor, Bras Basah, and Bugis.

The collective sale tender for the residential building will close on 7 September at 2 pm.

 

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