Three adjoining corner freehold shophouses for sale at $19 million within Farrer Park

Singapore, 3 July 2024 – International property consultant Knight Frank Singapore, as the exclusive marketing agent, is pleased to announce a row of three adjoining freehold shophouses on the corner of Roberts Lane for Sale by Expression of Interest (EOI). The two-storey shophouses comprise a basement, mezzanine and six-storey rear extension.

The conserved shophouses located at 3 Roberts Lane have a combined land area of approximately 3,009 sqft, with shops on the ground floor and residences on the upper floors. The property boasts an excellent triple frontage along Roberts Lane, Serangoon Road and Kinta Road. It is also conveniently located adjacent to Farrer Park MRT Station. The guide price works out to $1,814 psf on a gross floor area of approximately 10,474 sqft.

In the vicinity, numerous co-living brands like The Assembly Place, Cove and other boutique suites have established their operations as they are drawn by the accessibility of this city-fringe location. The prospective owner will have the opportunity to acquire naming rights for the shophouse, which has a prominent six-storey rear extension.

The property can also be a value-add opportunity as the new owner may upgrade it with asset enhancement initiatives, and subject to authorities’ approval, explore tenant repositioning by conversion to F&B use on the ground floor. Upon lease expiries, the upper floors may be leased to a recognized co-living chain, to maximize rental and capital value.

The property is located close to the upcoming integrated development Piccadilly Grand, which has been 100% sold at an average price of $2,141 per square foot. Adjacent to that, another 1,600 new HDBs will be built from the redevelopment of the former Farrer Park Swimming Complex.

Ms Tania Ong (王艳清), Senior Manager, Capital Markets, Knight Frank Singapore (执行董事,资本市场部, 莱坊), says, “There are several compelling reasons for investors to purchase freehold shophouses within the Jalan Besar Conservation Area. Such properties are highly sought after for their palatable investment quantum. Furthermore, the availability of three adjoining shophouses situated at a corner is very hard to come by. The opportunity is priced close to a recent transaction in the area.

"Farrer Park is an exciting district undergoing gentrification to complement existing lifestyle, education, sports and medical facilities. These new developments will revitalize the area, and reflect investors’ sustained confidence in the location’s potential. Shophouse transactions remain the highest in District 8, with 44 transactions recorded in 2023 and 18 recorded in the first half of 2024.”

The EOI closes on Tuesday, 13 August 2024, at 3:00 PM.

Photo for use:

Source: Knight Frank

For further information, please contact: 
Tania Ong

Senior Manager, Capital Markets (Land & Building, International Real Estate)

Knight Frank Singapore
tania.ong@sg.knightfrank.com | +65 9835 2678 | +65 6228 6809

Lilian Hoe
Director, Marketing, Communications, Legal and Compliance

Knight Frank Singapore
lilian.hoe@sg.knightfrank.com | +65 6228 6807

Notes to Editors

About Knight Frank

Knight Frank LLP is the leading independent global property consultancy. Headquartered in London, Knight Frank has more than 25,728 people operating from 604 offices across 58 territories. The Group advises clients ranging from individual owners and buyers to major developers, investors, and corporate tenants.

For further information about the firm, please visit knightfrank.com. Knight Frank has a strong presence in Singapore with a head office and two subsidiaries: Knight Frank Property & Facilities Management and KF Property Network. For further information about the Company, please visit www.knightfrank.com.sg.