Six-Storey Roberts Lane Building Returns to Auction with $16.8 Million Guide Price

Set for a second auction effort by ERA Singapore on Sept 26, a six-story property on Roberts Lane off Serangoon Road in District 8 is Originally showing at ERA’s auction on August 22, the property was taken off the market upon no offers. Based on its 7,395 square foot total gross floor area, the building is priced at $2,272 per square foot with a recommended price of $16.8 million. Alison Lee, ERA’s head of auction, said that the property was offered for sale by expression of interest in December 2022 for $16.88 million but failed to attract a buyer prior to the auction.

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On a 2,003 square foot land block, the freehold building boasts notable road frontage and accessible roadside parking. With a 3.5 plot ratio, the URA Master Plan 2019 zones the land for residential use with commercial use approved on the ground level. The building consists of five strata-titled residential units on the top levels, each accessible by elevator, and a ground level shop. The building can be sold with vacant possession even though it is tenanted overall.

A caveat filed at the time suggests that the present owner bought the property en bloc for $9 million. Given the 6,781 square foot total stratum area, this purchase price comes to $1,327 per square foot. Situated near City Square Mall, Mustafa Centre, and the Connexion integrated healthcare and hospitality complex, the building’s position provides ease of access from a four-minute walk to Farrer Park MRT Station on the Northeast Line.

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