Centrium Square, former Serangoon Plaza, will be a new launch mixed commercial development by Feature Development, an associate of the Tong Eng property development group. Serangoon Plaza, which currently housing a branch of well-known retail giant Mustafa, has been sold en bloc in November 2013. The deal is the largest collective sale of a commercial property on record in Singapore, attracting widespread attention. Centrium Square is poised to be developed into an iconic mixed-used development comprising 49 retails, 143 offices and 39 medical suites. Each offices will range in estimated sizes from 53 sqm to 94 sqm.
The development will be located along the busy Serangoon Road and right next to Farrer Park MRT Station. The area has generate a huge volume of human traffic, from shoppers to worshipers, on both the weekdays and the weekends. The retail shops are expected to complement the shopping and dining experience by nearby shopping malls such as City Square Mall and 24 hour Mustafa Center which will further enhance the vicinity into a desirable shopping and dining destination for both the locals and foreigners. Strong demand for offices are also expected due to its prime location at a lower rent price. Staff can enjoy the ease of travelling to work via public transport with train stations like Farrer Park MRT Station and upcoming Jalan Besar MRT Station (Downtown Line), which are both within a short walking distance away. For those who prefer to drive, the commercial building is also well connected by major roads and expressway like Serangoon Road, Jalan Besar Road, Nicholl Highway and Central Expressway (CTE). Staff do not have to travel far for lunch breaks as the surroundings offer a wide variety of food options from different price ranges. Singapore is steadily progressing into a world-class medical hub for overseas medical tourists, making investments in medical suites an attractive alternative for investors and medical practitioners.
Centrium Square Building Layout
|1st & 2nd Storey||49 Retail Shops|
|3rd & 4th Storey||Car Park (No of Lots TBC)|
|5th Storey||Facilities Deck|
|6th to 8th Storey||39 Medical Suites|
|9th to 19th Storey||143 Offices (53 to 94 sqm)|
Retail, Offices & Medical Suites – Everything Under One Roof
Strong human traffic
Located at the junction of Serangoon Road and Syed Alwi Road, the vicinity is one of the busiest area in Singapore. Rarely seen without a bustling crowd of local and overseas customers, Centrium Square is set in the Little India district. A cult favorite in the Singaporean shopping scene, it’s the best place to go if you’re after a bargain or enjoy shopping late into the twilight hours. The surrounding area is gazetted as a conservation area with rows of shop houses operating businesses along the roads. Hardly will you see any vacant units available for rental as businesses are thriving. In future when the development is completed, there will definitely be a strong level of interest for companies seeking to operate their businesses here.
Benefits of owning a retail shop in Singapore
The retail shops of Centrium Square has yet to be confirm whether they will be on sales. If this opportunity arises, one should seize this fabulous chance of owning one of the most highly sought commercial areas in Singapore.
- There is a shortage of retail shops in Singapore
- Foreigners are eligible to purchase
- No Additional Buyers’ Stamp Duty
- No Sellers’ Stamp Duty
- Commercial units rental usually offer higher yield and longer lease as compared to residential units rental
Attractive alternatives to CBD
As Singapore steps up the drive to decentralize, many office tenants have been moving away from the pricier city center. Existing growth centers outside the city center will continue to be strengthened. New growth areas in even more locations will also be introduced to offer businesses alternative options for space, which in turn creates more retail, entertainment, and employment opportunities closer to homes. Centrium Square close proximity to the Farrer Park MRT Station and affordability will be an attractive choice for business owners. Besides, owning an office unit for own usage, can help to protect businesses from unreasonable rent hikes and enjoy substantial savings on operating costs.
Surrounded by amenities
Beside being next to MRT station, there are also many public buses servicing that area. Centrium Square is well connected by major roads and expressways making travelling to work an easy affair. Spoil for choices from the numerous dining options in the surrounding, which include cheaper meal alternatives as compare to those in CBD & Marina Bay areas. With the presence of shopping malls and fitness centres nearby, the 1 hour lunch break will never be enough!
Asia’s leading destination for advanced medical care
International patients come to Singapore each year for a whole range of medical care from health screenings to high-end surgical procedures in specialties such as cardiology, neurology, oncology, ophthalmology, organ transplants, orthopaedics, and paediatrics. In 2013, medical expenditure generated from travelers was S$832 million.
With well-respected doctors trained in the best centres around the world, internationally-accredited hospitals and speciality centres, medical travelers to Singapore can be assured of quality treatment.
As a multi-faceted medical hub, Singapore attracts a growing number of medical professionals and multi-national healthcare-related companies from various parts of the world to share and ex change their expertise, conduct healthcare-related research and training as well as host international conferences and events.
With Singapore’s well-developed infrastructure and robust medical ecosystem, healthcare providers in Singapore are constantly strengthening their medical capabilities through professional exchanges and access to innovation in medical technology.
In Singapore, medical travelers can receive quality medical care in an environment that is safe and welcoming, with no uncertainties from political instability, social unrest, or worries about poor health safety. This is on top of an efficient transportation system, wide range of accommodation options, and a wide variety of leisure offerings to enhance the experience in Singapore.
Singapore Tourism Board (STB) works closely with private healthcare providers to expand their reach and referral networks in key target markets. STB also partners in-market intermediaries to profile Singapore as an advanced medical care destination and showcase Singapore’s clinical excellence.
Invest In Medical Suites
Medical suites, a sub-segment of the commercial property market, are coming onto the radar screens of investors, who are seeing the niche field as an alternative asset class. These commercial properties are meant for medical usage and traditionally sold mainly to doctors, but in recent times, have seen rising interest from investors.
As medical suites are commercial properties, investors do not need to worry about cooling measures. In the long run, medical suites can also be considered as good investment assets.
As medical suites are commercial properties, investors do not need to worry about cooling measures. In the long run, medical suites can also be considered as good investment assets. Going forward, consultants believe that prices of such suites will continue to see steady growth. They cited factors, including fewer restrictions in the commercial property market compared to residential, as well as overall growth in the medical industry, driving demand.
Singapore Healthcare – Brief Facts
Singapore’s quality healthcare, as one of the best in the world, is internationally recognized.
- Ranked first for most efficient healthcare system, out of 51 countries, in 2014 by Bloomberg.
- Ranked second in the world for health-care outcomes according to The Economist Intelligence Unit (EIU) in 2014.
- Ranked first as a global favourite medical tourism destination in PHD Chamber Medical and Wellness Tourism Report 2013.
- 21 hospitals and medical centres and medical organisations in Singapore have obtained the Joint Commission International (JCI) accreditation.
- Singapore’s blood supply ranks among the safest in the world. Blood Services Group HSA (previously known as Singapore’s Centre for Transfusion) was appointed a World Health Organization (WHO) Collaborating Blood Centre for Transfusion Medicine for the Western Pacific Region in 1992.
Corporate Profile – Tong Eng Brothers
Over the last sixty years, Tong Eng Brothers and its group of companies prides itself on developing and owning distinctive real estate throughout Singapore. Over the last 50 years, the group has owned and developed more than a hundred acres of land, encompassing office, retail, landed housing and apartment projects.
Today, Tong Eng Brothers and its group of companies continue to be active in the property market developing many residential and commercial developments in Singapore. Some of the past notable projects include Greenbank Park, Green Meadows Condominium, Kew Cottages, Serenade Gardens, Trendale Tower, Serangoon Plaza, Stratton Park, Belgravia Park and Stratton Green.
Centrium Square will be the most anticipated commercial launch in recent years and is expected to generate strong level of interest. Do not miss this fabulous opportunity to own a part of this exciting development! For more information on Centrium Square, simply fill up your details below and our salesperson will get in touch with you shortly!