CBRE Singapore is presenting an investment opportunity to acquire a 100% ownership in a freehold three-storey residential development for sale located at 543, 543A, 545, 545A Upper Serangoon Road Singapore.

As the exclusive marketing agent, CBRE is conducting the sale via a public tender exercise, which will close on 17 August 2021 at 3pm.

The subject property currently comprises four strata-titled residential units of some 8,928 square feet in total gross floor area, subject to URA’s verification. It sits on a rectangular land plot of approximately 4,072 square feet and enjoys a prominent frontage of approximately 18.3 metres on Upper Serangoon Road, the main thoroughfare of District 19.

Under the 2019 Master Plan, the site is zoned “Residential” with a gross plot ratio of 1.4.

Indicative pricing is S$7.6 million and the development charge payable to build back to its existing gross floor area of 8,928 square feet is estimated to be approximately S$1.73 million, subject to the authorities’ confirmation on the development baseline and review of DC rates every March and September. All in, this will work out to about S$1,045 per square per plot ratio.

Michael Tay (郑兆能), Head of Capital Markets, Singapore at CBRE, says, “We expect keen interest from end-users such as developers and contractors who are seeking such occasional opportunities that are of palatable size and investment quantum. The subject property will also appeal to private investors and family offices who are on the lookout for well-located freehold buildings to preserve their wealth.”

The subject property can be redeveloped into a serviced apartment development at its existing gross floor area of approximately 8,928 square feet and a building height of up to five storeys, subject to relevant authorities’ approval. Dependent on authorities’ evaluation, the property may also be suited for co-living business, childcare centre, or hostel operators.

Mr Tay adds, “At S$1,045 per square foot per plot ratio, including development charge payable, the indicative pricing is compelling when compared to recent transactions. Most recent comparable transaction includes 2,4 and 6 Mount Emily Road which changed hands in March 2021 for S$1,115 per square foot per plot ratio.”

Situated in front of a low-rise residential enclave along Upper Serangoon Road, the subject property is a stone’s throw from Serangoon MRT Interchange and NEX shopping mall. The other nearby landmarks include Braddell Heights Community Hub, Yangzheng Primary School,

At a compelling guide price of S$1,045 per square foot per plot ratio. 

To request a copy of the Information Memorandum please contact the marketing agent Michael Tay (郑兆能) Head of Capital Markets Singapore at CBRE via the contact form below.