Photo from PropNex

Six freehold shophouses in Serangoon Road sold for $62.5m

The sale price translates to $2,304 psf per plot ratio.

PropNex has sold a portfolio of six adjoining freehold shophouses at 322 to 332 Serangoon Road for $62.5m.

The sale price translates to $2,304 psf per plot ratio (psf ppr) based on the potential gross floor area (GFA) of 27,125 sq ft.
The real estate agency, which acted as the property’s marketing agency, said it sold the shophouses via tender, which closed on 9 September. 

According to PropNex, the site where the shophouses sit was zoned for commercial use with a gross plot ratio of 3.0 under the URA Master Plan 2019. 

“The plot can potentially be redeveloped into a 6-storey commercial building offering a gross floor area (GFA) of 27,125 sq ft,” PropNex said. 

“As the site is zoned for commercial use, the buyer will not be subjected to the additional buyer’s stamp duty (ABSD) nor the seller’s stamp duty (SSD),” PropNex added.

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!