Three Conservation Shophouses Farrer Park Sale 19 Mil
A trio of connected conservation shophouses located at 3 Roberts Lane in Farrer Park (District 8) has been put up for sale through an expression of interest (EOI) exercise. The three freehold shophouses are being marketed with a guide price of $19 million, and offer an expansive gross floor area of approximately 10,474 square feet, translating to a competitive $1,814 per square foot rate.
Strategically situated within the esteemed Jalan Besar Conservation Area, the shophouses are sprawling over a combined land area of 3,009 square feet. The properties boast a total of two storeys, with the added bonus of featuring a basement, mezzanine level, and six-storey rear extension. One of their key selling points is their striking tri-frontage, with a prime vista of Serangoon Road, Roberts Lane, and Kinta Road. The shophouses are also conveniently located within walking distance of the North East Line’s Farrer Park MRT Station.
The URA Master Plan has a vision of expanding the Central Business District (CBD) into the Marina Bay area. This move is expected to bring about numerous opportunities for the residents of Marina Gardens Lane Condo. By living in close proximity to this newly developed financial hub, residents can potentially benefit from shorter commute times and improved work-life balance as more multinational companies set up their offices in the area. With a thriving business environment, a plethora of amenities such as eateries, retail outlets, and entertainment zones are expected to follow suit, further enhancing the quality of life for those living near Marina Gardens Condo.
As part of the sale, the prospective owner will have first dibs on securing the naming rights for these desirable shophouses, says Tania Ong, senior manager of capital markets at Knight Frank, who is marketing the properties. She adds that the potential buyer may also be able to elevate the properties’ value through asset enhancement initiatives, and, subject to approval from authorities, explore the potential for the ground floor to be used for F&B establishments.
The EOI exercise will close on Aug 13 at 3pm.