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CBRE Comments: URA Sales Volume Apr 2016
  • 2 Derbyshire Road, Freehold Site with Four Storey Building Zoned for Civic & Community Institution Up For Sale

2 Derbyshire Road, Freehold Site with Four Storey Building Zoned for Civic & Community Institution Up For Sale

May 18, 2016
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Approved for Child Care Centre and Kindergarten Use

Singapore 18 May 2016 - CBRE is pleased to launch the Expression Of Interest sale of 2 Derbyshire Road, a freehold site that comes with an existing 4-storey building, in the heart of Novena.

The site has a land area of approximately 6,768 square feet, and the current gross floor area is approximately 8,742 square feet. Zoned for “Civic & Community Institution” usage under the 2014 Master Plan, the site was granted approval for the change of to child care centre and kindergarten since 2010, which was also the year in which the building was completed. 

Strategically located just off the main junction of Thomson Road, 2 Derbyshire Road is nestled right in the heart of Novena, a vibrant retail, food & beverage hub, set within an established and affluent residential enclave that bustles with life. The vicinity is mixed in character comprising shopping malls, offices, landed housing and condominium developments. Main highlights include shopping malls like United Square, Novena Square, Velocity, Square 2 and Goldhill Plaza. In addition, Mount Elizabeth Novena Hospital, Mount Elizabeth Novena Specialist Centre, Tan Tock Seng Hospital, amongst other, support the medical facilities in the location.

The location is conveniently served by various transport nodes, with the Novena MRT Station a short walk away, while the bus stops are easily located along the Thomson main Road. There is excellent connectivity and accessibility into town and the rest of Singapore.

it is extremely rare for any to be available for sale. The approval for use as a child care centre and kindergarten is considered a positive selling point for the site, and the current rental income will be attractive to an investor buyer.  Buyers have the option to hold the asset for long-term income flow or carry out alterations and additions works to enhance the building for their own use.

Subject to authorities’ approval, buyers can also consider various options to explore further change of use of the property, or convert the premise to cater to their own or the tenant’s usage requirements. Buyers will also be attracted to the naming and signage rights for this property. With the property being next to residential developments, there may be an opportunity to explore change of use to a residential zone plot for a boutique residential development.

Due to the scarcity of such sites, this is a prized opportunity that ready buyers will not miss. We expect 2 Derbyshire Road to receive keen interest from investors who are likely to consist of ultra high net worth individuals, private family funds, developers, and also owner-occupiers buyers in the likes of Associations, Clubs, Child Care Operators, Performing Academies and Welfare Homes Operators, amongst others.”

CBRE is the sole marketing agent for this Expression of Interest Exercise.

The Expression of Interest exercise for this Property will close on 30 June 2016, Thursday at 3 pm.

Follow us on Twitter: @cbresingapore

And on LinkedIn: company/cbre-asia-pacific

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Disclaimer:

Neither CBRE nor its affiliated companies make any warranties or claims on the implied accuracy of the information contained herein.

About CBRE Group, Inc.

CBRE Group, Inc. (NYSE:CBG), a Fortune 500 and S&P 500 company headquartered in Los Angeles, is the world's largest commercial real estate services and investment firm (based on 2016 revenue). The company has more than 75,000 employees (excluding affiliates), and serves real estate investors and occupiers through approximately 450 offices (excluding affiliates) worldwide. CBRE offers a broad range of integrated services, including facilities, transaction and project management; property management; investment management; appraisal and valuation; property leasing; strategic consulting; property sales; mortgage services and development services. Please visit our website at www.cbre.com.

Media Contacts

liching
Li Ching Seah
Associate Director
Singapore
Marketing & Communications
+65 6326 1209
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