Freehold commercial building in Little India to be sold for $43m

The property will be put on sale via tender on 2 February.

A freehold commercial property on 202 Serangoon Road will be up for sale via tender starting on 2 February with an indicative reserve price of $43m.

In a statement, PropNex Realty said the tender for the property with a reserve sale price of $2,570 per square foot based on the existing gross floor area of 16,733 square feet (sq ft) will close at 2 pm on 16 March 2023.

The standalone building in Little India has a site spanning 5,624 sq ft.

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It is zoned for commercial use under the URA Master Plan 2019 and is not subjected to the additional buyer’s stamp duty or the seller’s stamp duty.

PropNex said the property was redeveloped in 2002 and is built up to four storeys with a food court in the basement, a mechanised carpark, and an attic.