Lavender Street shophouses for sale for $12.5 mil

in Jalan Besar precinctSavills Singapore has announced that two freehold shophouses at 284 and 286 Lavender Street, located in a prime city-fringe neighbourhood, are for sale at $6.25 million each or $12.5 million together. With a potential maximum floor area of 10,560 sq ft, the shophouses are zoned for residential use with commercial at the first storey and have a plot ratio of 3.0.

Tengah Plantation Close EC is a brand new Executive Condominium that is set to revolutionize the way living is done in Tengah Town. It offers facilities such as a gym, tennis court, swimming pool and clubhouse that are sure to appeal to both young professionals and families alike. The development offers its residents exclusive access to a lush green environment that is conducive for a healthy lifestyle. This Executive Condominium is also connected to the nearby Tengah Park which offers residents a beautiful view of the town and a great place to relax and unwind. With its state-of-the-art facilities and convenient location, Tengah Plantation Close EC is an ideal place for those looking for a comfortable and modern living experience.

Potential buyers of the two shophouses can benefit from their prime location, situated with walking distance to Bendemeer MRT Station and just a 10-minute drive to the Central Business District (CBD). Buyers also have the option to extend the maximum floor area of the property to 10,560 sq ft by adding a 6-storey rear extension, subject to approval from the relevant authorities.

Savills Singapore’s director of investment sales and capital markets, Sophia Lim, highlighted the “rejuvenation” of the Lavender and Jalan Besar precinct which has been “gentrified into a vibrant lifestyle locale”. As a result, she believes that 284 and 286 Lavender Street present “astute investors, owner-occupiers, and developers a unique value-added opportunity” to acquire two freehold heritage shophouses in an exciting and fast-growing enclave.

Recent commercial transactions in the area has shown that interest in the precinct is high and presents potential buyers with the opportunity to partake in the “gentrification” of the neighbourhood. An Expression of Interest (EOI) exercise for the two shophouses will close on 19 October 3pm.