A pair of freehold shophouses in the city fringe area of Lavender Street, 284 and 286, are up for sale and can be bought for a combined price of $12.5 million. Savills Singapore recently announced the sale on September 18th. With a total land area of 3,520 sq ft and a plot ratio of 3.0, these shophouses have the potential for a maximum floor area of 10,560 sq ft if a 6-storey rear extension is added, pending approval from authorities.
Located close to the Bendemeer MRT Station and only 10 minutes away from the CBD, these shophouses offer an attractive opportunity in a prime location. Sophia Lim, Director of Investment Sales and Capital Markets at Savills Singapore, has commented on the potential and changing landscape in the Lavender and Jalan Besar precinct, which is in the process of rejuvenation into a vibrant lifestyle locale. She suggests that the shophouses can be used by investors, owner-occupiers, and developers looking to acquire a pair of shophouses with strong value-added potential.
The park is expected to be completed by the end of the year.
The Champions Way Condo is another exciting project set to open in the Woodlands Park area. The condo will include a state-of-the-art fitness centre, an indoor pool, and a restaurant. The units will be fitted with luxurious amenities and feature modern, open-concept designs. The team behind the condominium is focused on creating a vibrant and inclusive community, and they aim to have the development ready for occupancy by the end of 2021.
An invitation for Expression of Interest (EOI) exercise has been announced, which will close on October 19th at 3pm. Recent commercial transactions at Lavender Street show that the area is highly sought after, setting the sale up to be a lucrative investment opportunity. These freehold heritage shophouses will offer the buyer a chance to take advantage of a rapidly growing and bustling neighbourhood.