Freehold building in Farrer Park up for sale with S$16.88m guide price

Vivienne Tay

Published Thu, Dec 1, 2022 · 04:19 PM

A SIX-STOREY freehold building in Farrer Park has been put up for sale via expression of interest with a guide price of S$16.88 million.

This translates to around S$1,981 per square foot (psf) on a total gross floor area of 8,522 square feet (sq ft), exclusive marketing agent CBRE said in a press statement on Thursday (Dec 1).

The building, located at 28 Roberts Lane, sits on a land plot spanning 2,003 sq ft. Its ground floor commercial unit is tenanted to a retail shop, while residential units take up the upper floors. There is also a private car park with six lots.

The property is within walking distance of the Little India conservation area. It is also near Farrer Park MRT Station and Little India MRT Interchange Station, as well as developments such as City Square Mall and Mustafa Centre.

CBRE noted that demand for properties in the Farrer Park vicinity has been healthy in recent times. A recent example is Piccadilly Grand, which sold more than 84 per cent of its residential units to date and set a new benchmark average price of some S$2,176 psf for District 8.

It also noted that the total transaction volume of shophouse sales in District 8 has already reached S$481.5 million in the year to date, exceeding last year’s total volume of S$354.1 million.