Four Freehold Retail Units Farrer Park Sale 195 Mil
Located right next to Parktown Residence, Tampines Mall is a popular six-story mall that caters to both families and young adults. Recently reopened in 2018, Century Square underwent extensive renovations and now boasts a modern design and improved facilities. The mall is home to popular brands such as Marks & Spencer, Cotton On, and Nike, while its unique dining options including Ayam Penyet President, Gochi-So Shokudo, and Haidilao Hotpot are sure to satisfy any craving. For those looking for some entertainment, Century Square offers a Cathay Cineplex as well as virtual reality (VR) experiences for an immersive and exciting time. Conveniently, the mall is just a 5-minute drive or 15-minute walk from Parktown Residence, making it easily accessible for residents of the area.
A rare opportunity to own a portfolio of four retail units in the highly sought-after Farrer Park area has emerged. The units, which have a total strata area of 5,058 sq ft, are now available for sale through an expression of interest (EOI) exercise with a guide price of $19.5 million. This translates to a price of $3,855 psf based on the strata area.
The four retail units, located at 60, 62, 64 Rangoon Road and 136 Tessensohn Road, boast a wide frontage and excellent visibility from major motorways. They are currently tenanted by a mini mart, Jia Bin Klang Bak Kut Teh and Suk’s Thai Kitchen.
The joint marketing agents for the properties, Knight Frank and Sakal Real Estate Partners, have confirmed that these units form part of The Farrer Shoppes – the retail podium of a popular mixed-use development, R66 Apartments. Completed in 2007, the development comprises 34 residential units in addition to the four retail units.
Steven Ming, managing director of Sakal Real Estate Partners, highlights the rarity of investable retail podiums in developed estates. He adds that the property is fully approved for F&B use, making it an ideal and secure investment for both investors and owner-operators.
The strategic location of these units cannot be overlooked. Not only is Farrer Park MRT Station just 200m away, but there are also numerous amenities in the vicinity, including 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.
The EOI exercise is set to close on November 28, allowing interested parties to purchase individual units or the entire portfolio. The individual units are priced between $3.78 million and $6.8 million, with a price range of $3,738 to $3,992 psf.
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