Serene Centre up for collective sale
So too is nearby freehold residential site Serene House
By Cheryl Lim
A favourite hangout with students in the Bukit Timah area, Serene Centre once housed Comics Mart. -- PHOTO: COLLIERS INTERNATIONAL
SERENE Centre, a favourite hangout with students in the Bukit Timah area, may soon be just a fond memory.
The well-known building once housed long-time tenants such as upscale supermarket Tierney's Gourmet and Comics Mart, one of the oldest comic shops here.
It has been put up for collective sale and could be redeveloped into a project with a maximum gross plot area of about 96,675 sq ft, based on a proposed plot ratio of 3.0.
The indicative price is $120 million to $130 million. This works out to $1,500 per sq ft per plot ratio (psf ppr).
Serene Centre is a mixed-use development that sits on a 32,225 sq ft plot on the corner of Farrer Road and Bukit Timah Road.
The four-storey commercial-residential development is made up of shop units on the first two storeys and 10 apartment units on the third and fourth storeys. Carpark facilities are located in the building's basement.
Potential buyers are asked to submit expression of interest by Dec 14.
The neighbouring site, Serene House, a freehold residential site located at 1A/B/C to 11 A/B/C Jalan Serene, is also up for sale.
The 39,828 sq ft development comprises a four-storey walk-up residential block of 24 apartment units. The site, which has a gross plot ratio of 1.4, can be redeveloped into a project of up to four storeys, with 80 units of 850 sq ft each.
The successful buyer has the option of increasing the total land area to about 49,020 sq ft by combining the site with the neighbouring plot of state land which measures 9,192 sq ft.
Assuming there is no development charge, the indicative price is in the region of $95 million to $98 million, including the alienation of the state land.This works out to $1,500 psf ppr.
The tender for Serene House will close on Dec 14.
Colliers International is brokering the sale of both sites.
cherlim@sph.com.sg
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