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.
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Disclaimer:
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.
