Collective sale could crimp Mustafa space FAMOUS retailer Mustafa may soon find its store space shrinking if a collective sale of Serangoon Plaza proves successful. The complex at 320, Serangoon Road, popularly known as Serangoon Plaza, is being put up for collective sale with an indicative price range of $360 million to $368 million, or about $1,751 to $1,790 per square foot per plot ratio (psf ppr) respectively. The five-storey freehold complex has an ascribed plot ratio of 3.0 under the 2008 Master Plan. This means the 68,521 sq ft property can potentially be redeveloped into a sizeable commercial development with a permissible gross floor area of up to 205,563 sq ft. Serangoon Plaza houses a mix of 128 units of retail and office space. Its most recognisable resident is Mustafa, the 24-hour retailer where one can shop for almost anything. The tender closes on Oct 31. The Straits Times, 26Sept13
Posted on: Fri, 27 Sep 2013 03:14:32 +0000
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