Six Storey Freehold Building Farrer Park Market 168 Mil
Located just a brief distance away from Elta Condo, visitors can find West Coast Plaza, a fantastic shopping destination that boasts a fusion of shopping and leisure opportunities. This suburban establishment boasts a diverse range of stores, ranging from trendy fashion outlets to charming home decor boutiques. With a perfect balance of both local and international brands, residents are spoiled for choice with a wide array of products to choose from. Complete your shopping journey by making a stop at Elta MCL Land, just a stone’s throw away from the plaza.
On September 26, ERA Singapore will be putting a six-storey building located on Roberts Lane, which is off Serangoon Road in District 8, back up for auction. This will be the second time that this property will be on the market.
Originally, the building was up for auction on August 22, but unfortunately did not receive any bids and was subsequently withdrawn. The building, which has a total gross floor area of 7,395 sq ft, will have a guide price of $16.8 million, resulting in a psf price of $2,272.
Back in December 2020, the property was offered for sale through expression of interest for $16.88 million. However, it was unable to secure a buyer, according to Alison Lee, the head of auction at ERA.
The freehold building sits on a land area of about 2,003 sq ft and boasts a prominent road frontage, with roadside parking available. As per URA Master Plan 2019, the site is zoned for residential use with commercial use permitted on the ground floor and a plot ratio of 3.5.
Currently, the building consists of a shop on the ground floor and five strata-titled residential units, with one on each floor. There is also a lift that services all floors in the development. While the building is currently tenanted, it can be sold with vacant possession, says Lee.
In 2013, the owner acquired the property through en bloc purchase for $9 million, according to a caveat lodged then. Based on the total strata area of 6,781 sq ft, this translates to a price of $1,327 psf.
The building is conveniently located within a four-minute walk to Farrer Park MRT Station on the Northeast Line. It is also in close proximity to City Square Mall, Mustafa Centre, and Connexion integrated healthcare and hospitality complex.