ERA Singapore plans to auction once more a six-story property on Roberts Lane, off Serangoon Road in District 8 on September 26. This marks the second occasion the property will be put under hammer. With a target price of $16.8 million, the building made its auction debut at ERA’s event on 22 Aug and, given its 7,395 square foot total gross floor area, a price per square foot of $2,272. The guide price for the next auction stays at $16.8 million.
The freehold construction features notable road frontage and has a land area of about 2,003 sq ft with roadside parking accessible. The land has a plot ratio of 3.5 and is zoned for both residential and commercial usage following the URA Master Plan 2019, according to Five strata-titled residential units, one on each floor, occupy the top levels of the structure; a shop on the ground floor makes up its arrangement. Every floor in the development is served by an elevator. Head of auction for ERA Alison Lee points out that although the building is tenanted overall, it can be sold with vacant possession.
The present owner bought the property en bloc in 2013. Purchased for $9 million, the property was under a caveat at the time. Applying the total strata area of 6,781 sq ft, this price comes to $1,327 psf. Being only a four-minute walk from the Farrer Park MRT Station on the Northeast Line, the building’s location is obviously really handy. It is also near well-known facilities such the Connexion integrated healthcare and hotel complex, Mustafa Centre, and City Square Mall.
