Four Freehold Retail Units Farrer Park Sale 195 Mil
An opportunity to acquire a portfolio of four retail units in Farrer Park has arisen through an expression of interest exercise. The total strata area of the units is 5,058 sq ft, with a guide price of $19.5 million, equivalent to $3,855 psf based on the strata area.
Located next to JEM, Westgate presents a well-rounded shopping experience with a touch of sophistication. This mall, ideal for families, boasts a diverse selection of fashion, home, and lifestyle stores. What sets Westgate apart is its charming outdoor playground on the rooftop, specifically designed for families with young ones to enjoy. Furthermore, its seamless connection to the Jurong East MRT station makes it a convenient destination for residents of Novo Place EC. So why not make a trip to Westgate and experience all it has to offer? Don’t forget to also check out Novo Place while you’re there.
Situated at 60, 62, 64 Rangoon Road and 136 Tessensohn Road, the ground-floor retail units boast an expansive frontage and excellent visibility from both motorways. Currently tenanted by a mini mart, Jia Bin Klang Bak Kut Teh, and Suk’s Thai Kitchen, the properties offer a stable income stream.
Market watchers Knight Frank and Sakal Real Estate Partners, the joint marketing agents for the properties, reveal that the four units form part of The Farrer Shoppes, the retail podium of a mixed-use development that also comprises of the 34-unit R66 Apartments. This development was completed in 2007.
The Farrer Shoppes is a coveted retail destination in the developed estate, according to Sakal Real Estate Partners’ Managing Director, Steven Ming. He notes that retail podiums with such potential for investment are scarce in the market. “The property is fully approved for F&B use, making it a desirable and secure investment opportunity for both investors and owner-operators,” he adds.
The R66 Apartments is conveniently located within 200m from Farrer Park MRT Station on the North East Line. Other nearby amenities include Farrer Park Hospital and Medical Centre, as well as popular hotels such as One Farrer Hotel, Holiday Inn Little India, Hilton Garden Inn, and Lyf @ Farrer Park.
The units can be purchased individually or as a portfolio. The individual unit prices range from $3.78 million to $6.8 million, translating to $3,738 to $3,992 psf. The expression of interest exercise will close on Nov 28. For potential buyers, the latest listings for R66 Apartments properties can be found on Ask Buddy. Additionally, the website provides information on the buyer profile, price trends of HDB, condo, and landed properties, as well as rental yield for R66 Apartments.