Serene Centre sold for $105m

The property is a four-storey freehold commercial/residential development.

Serene Centre, a prime mixed-use development, has been sold for $105m to the Teo family from Apricot Capital and partners.

The Assembly Place has been appointed as the asset manager to oversee the management of the establishment.

Located at Bukit Timah Road and Farrer Road intersection, the four-storey freehold commercial/residential development features retail and food and beverage outlets on its lower floors and apartment units on the upper levels. 

The property’s marketing agent, Cushman & Wakefield, said the asset, constructed in the 1980s, spans approximately 32,225 square feet (sq ft) in land area and boasts a gross floor area of about 47,475 sq ft.

“Given the age of the building and its ultra-prime location, we understand that the buyer has the intention to carry out a comprehensive asset enhancement initiative to spruce up the place," said Shaun Poh, executive director of Capital Markets at Cushman & Wakefield.