The Upper Serangoon Shopping Centre, a well-known fixture on Upper Serangoon Road since its completion in 1983, is poised to attract the attention of investors with its upcoming collective sale priced at S$260 million. This mixed-use development, which has accumulated a vibrant history as a hub for small businesses and niche retail stores, boasts a freehold status, ensuring perpetual ownership—a significant draw for potential buyers in the competitive Singapore property market.
Sitting roughly 900 meters, or an eleven-minute stroll, from the NE12 Serangoon MRT Station, the shopping centre enjoys excellent accessibility, making it an appealing location for both shoppers and investors. The current collective sale price translates to approximately S$1,471 per square foot per gross floor area, which suggests that the site has remarkable redevelopment potential. A private owner is managing the sale, increasing interest levels and laying the groundwork for a possible higher-density commercial or mixed-use project.
Located 900 meters from NE12 Serangoon MRT Station, this site offers exceptional accessibility and redevelopment potential for investors.
Individual retail units within the shopping centre are currently listed between S$699,999 and S$700,000 for 280 square feet, pricing each at around S$2,500 per square foot. Smaller units have also attracted buyers, with recent transactions reflecting prices between S$428,000 and S$485,000 for 204 to 258 square feet, underscoring the demand for freehold properties in Singapore.
The location itself offers a matured urban landscape, enhanced by nearby amenities including schools, eateries, and established transport networks. Such features make this area tremendously attractive to developers looking to tap into a growing population.
It is worth mentioning that current planning guidelines allow for potential rezoning or redevelopment, presenting a tantalizing opportunity to investors seeking to capitalize on the Upper Serangoon area’s evolving landscape. Urban renewal projects could further elevate property values, turning the collective sale of the Upper Serangoon Shopping Centre into a hotspot for future business developments.
