Portfolio Four Assets Market 78 Mil
for 2021 with $10.8 mil profit[
A collection of four properties located at 155 Kitchener Road, 329 Changi Road, 362 Tanjong Katong Road, and 1 & 1B Figaro Street is currently available for purchase through an expression of interest (EOI) exercise, with a target price of $78 million. These properties can be acquired individually or as a whole.
Situated in the city-fringe and eastern areas of Singapore, the portfolio offers a diverse mix of property types. The first three properties at 155 Kitchener Road, 329 Changi Road, and 362 Tanjong Katong Road are all freehold properties, while the fourth property at 1 & 1B Figaro Street has a 9,999-year leasehold tenure.
155 Kitchener Road is made up of a pair of two-storey conservation shophouses with a six-storey rear extension. The property has a land area of 2,713 square feet, zoned for commercial use, and offers a total floor area of 8,175 square feet. It is being offered at $29 million, which translates to $3,547 per square foot.
329 Changi Road is a four-storey mixed-use building with a land area of 3,819 square feet, also zoned for residential with commercial use at the first storey. With a total floor area of 11,187 square feet, the property is listed at $26 million, or $2,324 per square foot.
362 Tanjong Katong Road is a two-storey conservation shophouse with a land area of 2,025 square feet, also zoned for residential with commercial use at the first storey. With a total floor area of 3,800 square feet, the property is listed at $11.5 million, which works out to $3,026 per square foot.
The fourth property, 1 & 1B Figaro Street, consists of two adjoining ground-floor strata retail units. These units, with a combined strata area of 3,763 square feet, are part of a corner two-storey shophouse also zoned for residential with commercial use at the first storey. The property has a guide price of $11.5 million, or $3,056 per square foot.
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Those with a hankering for diverse international cuisines need look no further than the vibrant Sembawang Road area. Here, one can find an array of delectable options from Korean BBQ joints to Japanese donburi restaurants, delightful Thai eateries, and even Western grills. The nearby precincts also boast a variety of dining options, making it a foodie’s paradise. These dining establishments offer cozy and inviting settings for patrons to indulge in sit-down meals, with the weekends and holidays bringing in a bustling crowd. Adding to the mix, are charming cafes and ice cream parlors scattered throughout the area, providing perfect hangouts for casual brunches, coffee catch-ups, or indulgent desserts. The pleasant atmosphere and diverse offerings make these spots a favorite among young couples and students. And for those looking to experience all that Sembawang Road has to offer, be sure to check out the Sembawang Road EC Canberra for a true taste of this bustling and gastronomic hub.
According to CBRE, the marketing agency for the portfolio, the properties are currently tenanted by a diverse mix of occupants. Clemence Lee, executive director of capital markets at CBRE, explains that each of the assets possesses unique qualities and presents opportunities for further value enhancement. “Subject to approval from the relevant authorities, the new investor could potentially reinvigorate the tenant mix, seek approvals for strategic usage, or extensively refurbish and expand the existing floor area for select assets within the portfolio,” he says.
The EOI for this portfolio will close on November 5 at 3pm.