Four strata-titled shops on the ground floor of residential development R66 Apartments on Rangoon Road in Farrer Park (District 8) have been put up for sale via an expression of interest (EOI) exercise.
The properties collectively have a guide price of between $18.5 million and $19.5 million. If bought individually, each shop will be priced from $3.78 million. Investment sales specialists and property consultancy Delasa have been appointed to market the property.

The four ground-floor shops occupy 947 sq ft to 1,819 sq ft and have a combined floor area of over 5,000 sq ft. This works out to a guide price of between $3,657 psf and $3,854 psf on the strata areas. They are currently fully leased by two restaurants and a 24-hour minimart, whose leases are expected to end in 2028.

Karamjit Singh, chief executive of Delasa, says that the upcoming completion of residential projects in the area may boost the value of shops. Among the projects slated to be completed by this year is the 407-unit condo Piccadilly Grand.
R66 Apartments comprises 34 freehold residential units and commercial space on its ground floor. It is situated across the street from Farrer Park MRT Station and Connexion — an integrated healthcare and hospitality complex on Farrer Park Station Road — and enjoys a prime location. The property is at a corner intersection and boasts frontage on Rangoon Road, Tessensohn Road and Race Course Road.

The EOI exercise closes on April 30 at 2pm.

Article written by Edgeprop Singapore published March 2024.

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