A landmark in Singapore’s commercial landscape, Upper Serangoon Shopping Centre is initiating a significant shift as it enters the collective sale market with a guide price of S$260 million. The six-storey strata-titled commercial building, which opened in 1982, occupies a strategic location at 756 Upper Serangoon Road, approximately 900 meters from Serangoon MRT station, positioning it favorably within Singapore’s urban fabric.
The freehold property, spanning 5,443.3 square meters (approximately 58,566 square feet) of land area, is being marketed at approximately S$1,471 per square foot of gross floor area. This offering includes an adjoining land plot that enhances the redevelopment potential of the site, creating significant opportunities for prospective investors seeking to capitalize on the property’s prime location. The en bloc sale comprises two freehold sites with an adjoining land plot providing access between them.
CBRE, appointed as the marketing agency for this en bloc sale, has established a tender closing deadline of June 10, 2025, at 3:00 p.m., during which interested parties can submit their bids for this rare freehold commercial property.
The current commercial zoning under Urban Redevelopment Authority regulations provides flexibility for future development scenarios, potentially including mixed-use projects that could transform the area’s retail landscape. The shopping centre currently houses 164 retail units, 8 residential units, and 1 office unit across its six floors.
The property’s strategic position within the Serangoon Sub-Regional Centre enhances its appeal, particularly given Singapore’s land scarcity and the growing demand for integrated developments. The timing of this sale coincides with projections of private property prices increasing by 4-7% in 2025, potentially boosting investor confidence.
Current market activity indicates strong interest in the building’s individual units, with three commercial strata spaces of approximately 280 square feet each listed between S$699,999 and S$700,000, reflecting a per-square-foot value of approximately S$2,500.
Market demand remains robust with 280-square-foot strata units commanding approximately S$2,500 per square foot.
The collective sale represents a significant opportunity within Singapore’s commercial property sector, offering developers the chance to reinvent a well-situated freehold asset in a mature estate.
With its established surroundings featuring schools, malls, and excellent transportation infrastructure, Upper Serangoon Shopping Centre presents a compelling case for redevelopment that aligns with Singapore’s urban planning vision for higher density, multi-functional spaces that serve the evolving needs of residents and businesses alike.
