Serene House, Serene Centre put up for sale

Two iconic Bukit Timah properties, Serene House and Serene Centre, will be put up for sale today, according to marketing agent Colliers International.

Serene House, at Jalan Serene, is a four-storey block comprising 24 walk-up apartment units. The 39,828 sq ft freehold site is zoned for residential development and has a gross plot ratio of 1.4.

The successful buyer has the option to combine the neighbouring state land of 9,192 sq ft with the site, increasing the total area to 49,020 sq ft.

The indicative price for the entire area, including the state land, is about $95 million to $98 million.

Meanwhile, the buyer of the neighbouring Serene Centre can choose to refurbish or redevelop the site.

Serene Centre, a four-storey commercial/residential development, sits on a 32,225-sq-ft corner plot facing Farrer Road and Bukit Timah Road.

The freehold site, with a proposed plot ratio of 3.0, is zoned for commercial/residential use. The indicative price for Serene Centre is $120 million to $130 million.

Interested buyers for the two sites, sold separately, are required to submit their expression of interest by Dec 14.

In another land sale, the Urban Redevelopment Authority (URA) yesterday put up a hotel site in Tanjong Pagar for public tender through the Reserve List system after an unnamed developer committed to bid not less than $94,045,276 for the land parcel.

The 99-year leasehold site at Gopeng Street and Peck Seah Street occupies about 24,750 sq ft.

It has a maximum permissible gross floor area of over 204,000 sq ft and a maximum height of 30 storeys.

The tender will close on Jan 11.

Source : Today – 16 Nov 2010

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