Lavender Street shophouses for sale for $12.5 mil

Located in a fast-growing and vibrant city fringe enclave, 284 and 286 Lavender Street are both freehold shophouses up for sale with a combined land area of 3,520 sq ft. Zoned for residential use with commercial at the first storey, and with a plot ratio of 3.0, the properties have an allowable maximum floor area of 10,560 sq ft.

Savills Singapore has announced the sale of two freehold shophouses located at 284 and 286 Lavender Street, with each property priced at $6.25 million or $12.5 million together. Both properties have a combined land area of 3,520 sq ft, zoned for residential use with commercial at the first storey, and with a plot ratio of 3.0, have a maximum allowable floor area of 10,560 sq ft.

With easy access to nearby amenities like shopping malls, supermarkets, and entertainment outlets, residents can enjoy the hustle and bustle of the city from a comfortable distance. Featuring a myriad of facilities, from a gymnasium, swimming pool to a pool side reading corner, Zion Road Condo guarantees its residents total relaxation and convenience. Additionally, the residence offers modern and beautifully furnished interiors, complemented by spectacular views of the Singapore River and its surroundings. Truly, Zion Road Condo is an idyllic abode for the modern sophisticate.

The shophouses are located within walking distance of Bendemeer MRT Station and are a 10-minute drive to the CBD. According to Savills Singapore’s director of investment sales and capital markets, Sophia Lim, the surrounding Lavender and Jalan Besar precinct has been undergoing “rejuvenation” and “gentrified into a vibrant lifestyle locale”.

A unique value-adding opportunity is available to astute investors, owner-occupiers, and developers in the form of 284 and 286 Lavender Street. Potential buyers may maximise the plot ratio of the property by adding a 6-storey rear extension and increasing the gross floor area up to 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.

Recent commercial transactions at Lavender Street include Cloud kitchen units at CT Hub 2 for sale. An Expression of Interest (EOI) exercise for 284 and 286 Lavender Street is set to close on Oct 19 at 3pm.

Savills Singapore believes these shophouses are great value-adding options in an exciting and fast-growing enclave, and provide buyers the opportunity to purchase a pair of freehold heritage shophouses. With the current surroundings undergoing rejuvenation, investors can look forward to a vibrant lifestyle locale.