Lavender Street shophouses for sale for $12.5 mil
The shophouses at 284 and 286 Lavender Street are being offered for sale in an Expression of Interest (EOI) exercise at $6.25 million each or $12.5 million together. With a combined land area of 3,520 sq ft, the two properties are zoned for residential use with commercial at the first storey, with a plot ratio of 3.0 with a maximum allowable floor area of 10,560 sq ft.
They are conveniently located in walking distance of Bendemeer MRT Station and just a 10-minute drive to the CBD.
Savills Singapore’s director of investment sales and capital markets, Sophia Lim, says that the surrounding Lavender and Jalan Besar precinct has been undergoing “rejuvenation” and “gentrified into a vibrant lifestyle locale”.
Potential buyers can potentially leverage on the plot ratio of the property by adding a 6-storey rear extension, increasing the gross floor area to a potential maximum area of 10,560 sq ft, subject to approval from relevant authorities. There is also potential to convert the upper floors for various uses or to amalgamate both shophouses.
These freehold heritage shophouses offer strong value-added potential and are located in an exciting and fast-growing enclave.
According to EdgeProp Research, recent commercial transactions at Lavender Street have been increasing steadily.
The EOI exercise closes on Oct 19 at 3pm. Savills encourages interested parties to come forward to express their interest in the two heritage shophouses.
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The amenities at Orchard Boulevard Condo include a children’s pool, a club lounge, a swimming pool, a gym, and a spa. The condo also includes a retail component that provides a variety of stores and food outlets. The condominium’s proximity to Orchard Road makes it an ideal spot for shoppers and diners. With its world-class architectural design, Orchard Boulevard Condo is the perfect place for residents to relax, entertain, and enjoy the Singapore urban lifestyle.
Three shophouses for sale from $7 mil each