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SG Two malls go on sale

Property Here - Thursday, September 26, 2013

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Serangoon Plaza (pictured) has been put up for collective sale, revealed Savills Singapore. 

The five-storey complex at 320 Serangoon Road comprises 128 units of retail and office space. With an area of around 68,521 sq ft and plot ratio of 3.0 under the 2008 Master Plan, the site has been zoned commercial. 

It could be redeveloped into a commercial project with a gross floor area (GFA) of up to 205,563 sq ft.

Located at the junction of Serangoon Road and Syed Alwi Road, the site features a wide frontage of about 140 metres and is well-connected to the central business district.  

The property carries a guide price of between S$360 million and S$368 million, which translates to S$1,751 - S$1,790 psf ppr. No development charge is payable for the site due to its high development baseline.  

Meanwhile, the four-storey retail mall Cityvibe located in Clementi has been launched for sale by expression of interest (EOI), with the owner expecting offers at over S$130 million, said marketing agent Knight Frank. 

The mall has an area of 15,600 sq ft and a total net lettable area of less than 30,000 sq ft. It offers a range of retail, F&B, educational, entertainment and medical services, with tenants that include Maybank, Mos Burger, Party World KTV and Ramen Ten restaurant.

The Clementi MRT station and bus interchange, schools, as well as residential estates are close by. 

The tender and EOI exercise for Serangoon Plaza and Cityvibe will close on 31 October.

Image source: Savills Singapore

 

Romesh Navaratnarajah, Senior Editor at PropertyGuru, edited this story. To contact him about this or other stories email romesh@propertyguru.com.sg