Three freehold shophouses in Lavender, Tiong Bahru up for sale

THREE freehold shophouses in Lavender and Tiong Bahru have been put available, sole marketing specialist PropNex declared on Tuesday.

On 26 and 28 Cavan Road are two adjoining shophouses available to be purchased with a guide cost of S$23.8 million. In the mean time, the corner shophouse at 259 Outram Road has an indicative cost of S$12.5 million.

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The pair of shophouses in Lavender is accessible by means of an outflow of interest (EOI) work out, while the Tiong Bahru shophouse is available to be purchased by delicate.

According to PropNex, 26 Cavan Road was executed for S$15.8 million in August 2013.

Within a similar vicinity, 48 Horne Road, an industrial site which has been conceded consent for lodging use. That was executed at S$18 million in March 2016. “Including advancement charge of roughly S$7.53 million. The absolute buy cost for the 50-room inn improvement was around S$25.53 million,” said PropNex’s partner branch executive Loyalle Chin.

Under the Urban Redevelopment Authority’s (URA) Master Plan 2014, 26 Cavan Road has been zoned for inn use. It isn’t dependent upon extra purchaser’s stamp obligation (ABSD) and is qualified for buy by outsiders.

With a land size of 1,919 square feet (sq ft) and authority URA absolute floor territory of 6,781 sq ft. Where the four-story shophouse is rented to Hotel Snow. “Comprising 32 ensuite rooms, the rental yield is over 2.5 percent,” included Mr Chin.

Three freehold shophouses : 28 CAVAN ROAD

Under the URA’s 2014 Master Plan, 28 Cavan Road is zoned “private with business from the outset story”. It is liable to ABSD and change to different uses, for example, an inn or understudy inn is dependent upon the URA’s endorsement, PropNex said.

With a land size of 1,959 sq ft and an all out floor region of around 6,800 sq ft. The four-story shophouse is rented to a woodcraft shop on the ground story and private convenience on the upper floors.

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In June 2019, 2 Cavan Road, which has a similar zoning as 28 Cavan Road, was sold for S$38.71 million to Kheng Leong Company. And which is constrained by banking big shot Wee Cho Yaw.

The pair of shophouses at 26 and 28 Cavan Road can be bought either together or independently. They are situated among Lavender and Bendemeer MRT stations and around 330 meters from Bendemeer MRT station.

259 OUTRAM ROAD

Arranged in the Tiong Bahru enclave, the shophouse at 259 Outram Road is close to Singapore General Hospital. Also Outram Park MRT interchange, just as the upcoming Havelock MRT station.

Penrose Condo is a joint endeavor venture between Hong Leong Holdings and City Developments Limited.

It is currrently furnished with an explorer inn permit and rented to a neighborliness administrator on all accounts and a food and drink eatery on the ground floor. Zoned “private with business from the start story” under the URA’s Master Plan 2014, it is liable to ABSD.

With a land size of 2,168 sq ft, the four-story shophouse accompanies an open porch available to house visitors. With floor region totalling around 7,000 sq ft.

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The EOI practice for 26, 28 Cavan Road will shut down at 5pm on July 15. While the delicate for 259 Outram Road will end at 5pm on June 12.

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