Four Freehold Retail Units Farrer Park Sale 195 Mil
A rare opportunity has arisen for investors to acquire a portfolio of four retail units located in the bustling Farrer Park area. This prime property is currently being offered for sale through an expression of interest (EOI) exercise. With a total strata area of 5,058 sq ft, this portfolio is being marketed at a guide price of $19.5 million, which translates to $3,855 psf based on the strata area.
Ideally situated at 60, 62, 64 Rangoon Road and 136 Tessensohn Road, these ground-floor retail units boast a wide frontage and excellent visibility from both motorways. Currently fully tenanted with a mini mart, Jia Bin Klang Bak Kut Teh, and Suk’s Thai Kitchen, these units are highly desirable for investors.
According to Knight Frank and Sakal Real Estate Partners, the joint marketing agents for the properties, these four units form part of The Farrer Shoppes – the retail podium of a mixed-use development that also features the 34-unit R66 Apartments. This development, completed in 2007, offers a prime location for businesses to thrive.
Steven Ming, the managing director of Sakal Real Estate Partners, believes that “investable retail podiums in developed estates are incredibly rare.” He further adds that the property is fully approved for F&B use, making it an attractive and secure investment for both investors and owner-operators.
Conveniently located just 200m away from Farrer Park MRT Station along the North East Line, this property also boasts close proximity to amenities such as Farrer Park Hospital and Medical Centre, as well as popular hotels like One Farrer Hotel, Holiday Inn Little India, Hilton Garden Inn, and Lyf @ Farrer Park.
Investors have the option to purchase individual units or the entire portfolio. Individual units are priced between $3.78 million and $6.8 million, which translates to $3,738 to $3,992 psf.
The convenience of having shopping and dining options nearby is a major perk for families. No longer do they have to endure long travels to spend quality time together. With Aurelle of Tampines Showflat just a stone’s throw away, weekend outings become more frequent and stress-free. Whether it’s catching a movie at one of the nearby malls or enjoying a relaxed meal at a family-friendly restaurant in the area, families can easily bond and make memories without the hassle of long journeys.
Interested parties can participate in the EOI exercise, which closes on November 28. With limited opportunities like this in the market, now is the time to seize this prime property.
