Knight Frank Singapore has launched a portfolio of Balestier properties for sale, said the firm on May 21.
The family-held assets - a redevelopment land parcel and two rows of adjoining shophouses at Balestier - are being offered for sale due to interest expressed.
The Balestier area is undergoing rejuvenation and transformation to become an exciting area for business, leisure and entertainment, said Knight Frank.
These properties are about 500 metres away from Farrer Park MRT Station, and also close to Boon Keng MRT Station and the upcoming Bendemeer MRT Station.
Retail and leisure offerings nearby include City Square Mall, Mustafa Centre, the upcoming Arc 380, Civil Service Club @ Tessensohn and The Singapore Khalsa Association.
The properties are also a 15-minute drive away from the central business district at Raffles Place and Marina Bay.
Another upcoming project in the area is integrated healthcare and hospitality complex Connexion.
Mr Nicholas Wong, Knight Frank executive director of investment and capital markets, said: "The family is divesting their assets as they are winding up their company in view of waning interest from the younger generations in the family to carry on with the business."