Colliers International has put up Serene Centre and Serene House, both off Bukit Timah Road, for sale.
Serene House is a freehold four-storey walk-up residential block with 24 apartments. Under the 2008 Master Plan, the 39,828 sq ft rectangular site is zoned for residential use with a gross plot ratio of 1.4.
It will be offered through tender with an indicative price of $95 million to $98 million, or about $1,500 psf ppr.
This includes the alienation of a nearby government-owned site and assumes that no development charge is payable.
The successful buyer can amalgamate the nearby state land of 9,192 sq ft to increase the total land area to 49,020 sq ft, said Colliers.
The combined site can house a new residential development that comprises a four-storey block with 80 units measuring 850 sq ft each. The tender for the site will close on December 14.
Meanwhile, Serene Centre is a commercial/residential development being launched for sale through an expression of interest. It has an indicative price of $120 million to $130 million, which works out to around $1,500 psf ppr, based on a proposed plot ratio of 3.
The four-storey building consists of shop units on the first and second floors and 10 apartment units on the third and fourth floors.
The development sits on a 32,225 sq ft corner land site facing Bukit Timah and Farrer Roads. The site is zoned for commercial/residential use under the 2008 Master Plan.
The buyer can either redevelop the property into a new commercial/residential development or refurbish the site to improve its lettable area. Expressions of interest can be submitted until December 14.