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The freehold site of the former National Aerated Water Company, home to the landmark building in the area was sold to Malaysia-listed developer Selangor Dredging for $47 million last year. This plum freehold site near the Potong Pasir MRT station can yield 117 apartments. News of the sale and potential razing of the historic building that once bottled iconic soft drinks Sinalco, Kickapoo Joy Juice, Green Spot and Royal Crown Cola, caused ripples of concern among many in the heritage community.

This heritage building is part of Singapore's history of light industrial buildings and an example of post-war modern architecture. The building has been a landmark in the area since the mid-1950s. It has become intertwined with the whole fabric of the area. Many recall the industrial past of the Kallang area and the other industries such as the brickmaking kilns and sawmills that were here.

Serangoon is now an established address, with convenient amenities for its community. These would include: NEX, a neighbourhood shopping mall; a newly-renovated Chomp Chomp food centre; the Singapore Sports Hub; Kallang Basin Swimming Complex and notable schools like St Andrew’s Junior College and the Stamford American International School.