Verdun House for sale, located at the corner of Verdun Road and Sam Leong Road in Farrer Park. Property consultancy and investment sales specialists, Delasa (formerly known as Showsuite Consultancy), are the vendors’ appointed marketing agents.

Located some 370 metres to Farrer Park MRT station, the property has a squarish and island plot configuration with a land area of 7,300 sqft. It is zoned ‘Commercial’ in the 2019 Master Plan with a plot ratio of 4.2. It currently comprises four shops and eateries on the ground level and 12 apartments at its upper levels. The development was built in the 1980s.

Owners of 15 out of the 16 strata-titled units have consented to the sale so far, representing a mandate of over 93% of the development. The consenting owners have agreed to a reserve price of $55 million, which reflects $1,790 psf on the potential commercial use gross floor area of 30,727 sf. No development charge is payable upon its redevelopment.

“Upon redevelopment, Verdun House may accommodate a new 6-storey retail-cum-office building with a gross floor area of around 31,000 sf. It would enjoy a prominent corner frontage which would be great for branding and signages. With its central location and easy access to MRT and shopping, Verdun House could be well-suited for a commercial school or a corporate office with showrooms or F&B on the ground level,” said Mr Karamjit Singh, CEO of Delasa.

“With the commercial zoning, foreigners and public-listed entities could acquire the entire building for long-term hold even though the building comprises 12 apartments. Long-term investors could even choose to retain the building in its current form and defer their redevelopment plans until later. The current contracted rents deliver around 2% pa returns, which is reasonable for a freehold redevelopment site with no time pressure to rebuild,” added Mr Singh.

The Farrer Park area has undergone transformative changes over the years. The city-fringe area used to be anchored by the iconic Mustafa Centre and nostalgic pre-war shophouses. Now its key landmarks include the modern 450,000 sqft City Square Mall, Connexion – a high-rise integrated healthcare and luxury hospitality complex, as well as other medical suites at Farrer Square, and 4-star hotels such as Park Hotel and Parkroyal on Kitchener.

“From a locational perspective, Verdun House is set to benefit from the expanding commercial and medical tourism footprint around Farrer Park, and possibly spill-over business arising from its proximity to Health City Novena”, added Mr Singh.

There are also plans to introduce new private housing options in the areas surrounding Farrer Park MRT station such as the current Farrer Park Field, which would bring about a higher live-in population. More recently, a government land sale site at Northumberland Road was sold this year which may accommodate around 400 apartments. This is in addition to the existing 910-unit City Square residences.

The tender exercise is scheduled to close at 2.30 pm on Monday, 27 September 2021.

To request a copy of the Information Memorandum please contact the marketing agent via the contact details below.