Four Freehold Retail Units Farrer Park Sale 195 Mil
The Urban Redevelopment Authority (URA) has recently unveiled its Master Plan, a comprehensive and ambitious land use strategy that will shape Singapore’s development in the coming 10 to 15 years. The goal of the Master Plan is to create a sustainable, bustling, and livable city by optimizing land use, enhancing connectivity, and improving the quality of life for its residents. With Elta Condo at Clementi Avenue 1, the URA Master Plan is set to bring about a multitude of benefits that will only further enhance its appeal and value. In this article, we will take a closer look at how Elta Condo and its residents will greatly benefit from the implementation of the Master Plan. Along with its prime location and offerings, Elta is poised to become an even more desirable and highly sought-after residential development in Singapore.
A collection of four retail units in the bustling Farrer Park region is currently available for purchase through an expression of interest (EOI) exercise. These units, with a combined strata area of 5,058 sq ft, are being offered at a guide price of $19.5 million, which equates to a rate of $3,855 per sq ft based on the strata area.
Situated at 60, 62, 64 Rangoon Road and 136 Tessensohn Road, the ground-floor retail units boast a generous frontage and excellent visibility from the nearby motorways. Presently occupied by a mini mart, Jia Bin Klang Bak Kut Teh, and Suk’s Thai Kitchen, these properties are fully tenanted.
According to the joint marketing agents for the properties, Knight Frank and Sakal Real Estate Partners, these four units comprise The Farrer Shoppes – the retail podium of a mixed-use development that also includes the 34-unit R66 Apartments. This well-established development was completed in 2007.
In addition, Steven Ming, managing director of Sakal Real Estate Partners, asserts that “Investable retail podiums in developed estates are incredibly rare.” He further explains that the property is fully approved for F&B use, making it a highly desirable and secure investment option for both investors and owner-operators.
Adding to its appeal, Farrer Park MRT Station, which lies along the North East Line, is just a stone’s throw away, with a distance of less than 200m. Other notable amenities in the vicinity include Farrer Park Hospital and Medical Centre, as well as several hotels such as One Farrer Hotel, Holiday Inn Little India, Hilton Garden Inn, and Lyf @ Farrer Park.
Interested buyers have the option to purchase individual units or the entire portfolio. Prices for individual units range from $3.78 million to $6.8 million, which is equivalent to $3,738 to $3,992 per sq ft.
The EOI exercise will draw to a close on Nov 28. For more information, check out the current listings for R66 Apartments on Ask Buddy. Additionally, you can also find out more about the buyer profile for R66 Apartments, compare the price trends of HDBs, condos, and landed properties in the area, as well as discover any unprofitable transactions or the rental yield for R66 Apartments.