The five-storey building has a gold facade and dual frontage along Serangoon Road and Hindoo Road has been put up for sale via expression of interest at the reserve price of $48.8 million. The building sits on a freehold site of 5,626 sq ft and has a gross floor area of 16,733 sq ft.The reserve price translates to $2,916 psf based on GFA, says Desi Desmiriarti and Alex Ho of PropNex Realty, the exclusive marketing agency for the property.
The building comes with a restaurant/F&B licence. According to Tan, it is increasingly difficult to obtain new F&B licences or change of use to F&B in the. “The standalone building has a double frontage along Serangoon Road and Hindoo Road,” he adds. “The building is unique as it has a gold façade.” Having parking spaces within the building is an added bonus, observes Tan, especially in an area like Little India Conservation Area where parking space is rare. Farrer Park MRT station and the City Square Mall is also within a five- to six-minute walk.
District 8 recorded the highest number of transactions among the various districts. It accounted for 34 transactions worth more than $218 million in 2Q2022, smashing the last record of 29 transactions valued at $130 million in 2Q2013, according to PropNex Research.