A row of adjoining properties located along Rangoon Road have been launched for sale by tender, revealed marketing agent Knight Frank Singapore.
The 6,879 sq ft site comprises a four-storey mixed-use building and a two-storey shophouse. Under the Master Plan 2014, the entire site is zoned residential with commercial at 1st storey at a gross plot ratio of 3.0.
The properties could be upgraded through asset enhancement initiatives or redeveloped into a brand new mixed-use development with shops on the ground floor and residential apartments on the upper levels, said Knight Frank.
The site is close to Farrer Park MRT station and shopping malls. Connexion at Farrer Park, the world’s first fully integrated healthcare and hospitality complex, is also nearby.
“We expect the properties to attract strong interest in view of their strategic location, proximity to an MRT station, prominent main street frontage and relatively affordable investment size,” noted Ian Loh, Executive Director & Head, Investment and Capital Markets at Knight Frank.
The tender for the subject properties will close on 1 March 2016.