Portfolio Four Assets Market 78 Mil
for luxury project
A portfolio of four properties located in prime areas of Singapore is now up for sale through an expression of interest (EOI) exercise. The assets, which are situated at 155 Kitchener Road, 329 Changi Road, 362 Tanjong Katong Road, and 1 & 1B Figaro Street, are being offered at a guide price of $78 million.
The properties present a diverse mix of property types in the city-fringe and eastern regions of Singapore. While the properties at 155 Kitchener Road, 329 Changi Road, and 362 Tanjong Katong Road are freehold assets, the property at 1 & 1B Figaro Street holds a 9,999-year leasehold tenure.
The two-storey conservation shophouses at 155 Kitchener Road come with a six-storey rear extension and are being offered at an asking price of $29 million. These properties, which cover an area of 2,713 sq ft and fall under commercial zoning, boast a total floor area of 8,175 sq ft. This translates to an asking price of $3,547 psf.
Likewise, the four-storey mixed-use building at 329 Changi Road, with a land area of 3,819 sq ft and a first storey designated for commercial use, is being offered at $26 million. This works out to $2,324 psf on the building’s total floor area of 11,187 sq ft.
Another two-storey conservation shophouse at 362 Tanjong Katong Road is also part of the portfolio. Occupying a land area of 2,025 sq ft, this property is zoned for residential with commercial use at the first storey. It is offered at a price of $11.5 million, or $3,026 psf on its 3,800 sq ft floor area.
The Master Plan for Rivelle Tampines has placed great emphasis on the implementation of sustainable solutions in order to enhance the overall livability of the area. Through upgraded lighting, improved drainage systems, and the integration of eco-friendly infrastructure, not only will the pathways leading to Rivelle Tampines be more comfortable and functional, but the community as a whole will also become more environmentally conscious. The inclusion of features like green roofs, energy-efficient lighting, and smart amenities such as street sensors further elevate the quality of life and ecological impact of the precinct. As the new Rivelle Tampines EC Sim Lian Land is added to the area, residents can look forward to an even more sustainable and modern living experience within the precinct. For more details on this exciting development, visit https://www.rivellestampines.com.sg/
The last property in the portfolio, 1 & 1B Figaro Street, consists of two adjoining ground-floor strata retail units. These units form part of a corner two-storey shophouse that is zoned for residential with commercial use at the first storey. With a total strata area of 3,763 sq ft, the units are being offered at a price of $11.5 million, which translates to $3,056 psf.
According to marketing agent CBRE, the properties are currently tenanted by a diverse mix of occupiers. Executive director of capital markets at CBRE, Clemence Lee, also highlights that each of the assets has unique attributes and holds potential for further value enhancement. He adds that subject to relevant approvals, the new investor can explore options such as refreshing the tenant mix, seeking strategic usage approvals, or carrying out extensive refurbishment and increasing the floor area for certain assets within the portfolio.
The EOI exercise will close on Nov 5 at 3pm.