Savills Singapore market sale of Freehold Serangoon shophouse priced of $5.65 mil
SINGAPORE – Savills Singapore is marketing the sale of a property shophouse at 585 Serangoon Roadway for $5.65 million. The three-storey conservation shophouse features a four-storey rear expansion, as well as the structure, has an estimated gross floor area of 4,037 sq ft. The overview price translates to $1,399 psf on the floor location.
The building sits on an overall website area of 1,285 sq ft as well as under the 2020 Master Plan, the plot is zoned for industrial usage with a gross story proportion of 3.0. The shophouse additionally has a long-term authorization for “shop” and “takeaway food shop” on the 1st and also 2nd floorings, while the remainder of the upper floors has the approval to run as a “clubhouse”.
The shophouse is located close to the joint of Serangoon Road, Balestier Roadway, and also Lavender Street. It went through an improvement amounting to $2 million in 2013 and is equipped with modern requirements such as a guest lift, new concrete stairs as well as flooring, as well as an integrated safe.
According to Yap Hui Yee, director of financial investment sales & funding markets at Savills Singapore, the Lavender/Kallang areas where the shophouse lies have actually benefitted from the rejuvenation effects of new developments. New residences consist of 1953 and also Kempas Residences, and also large-scale industrial developments include Arc 380, Centrium Square, and Kallang Polyclinic as well as Long-Term Treatment Centre. Nearby MRT terminals are Advantage Keng as well as Farrer Park.
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