A Four-storey Mixed-Use Building Along River Valley Road for Sale

A Four-storey Mixed-Use Building Along River Valley Road for Sale
Guide price of S$24 million is compelling for a freehold boutique property in District 9

Singapore, 5 August 2020 – CBRE is pleased to launch for sale by Expression of Interest a four-storey mixed-use building at 286 & 288 River Valley Road. Interested buyers are invited to submit their offers to CBRE by 30 September 2020 at 3pm.

The four-storey building sits on a freehold site of approximately 4,180 square feet, which is zoned for “Residential with Commercial Use at the 1st storey” according to the 2019 Master Plan. Based on the existing plot ratio of 2.8, the subject property has a total built-up area of approximately 11,660 square feet. The two ground-floor units are currently occupied by beauty services salons. The subject property also comprises six mechanical carpark lots.

Strategically located along River Valley Road that connects the vicinity to the Central Business District and Orchard Road, 286 and 288 River Valley also enjoys high visibility with its prominent main road frontage of approximately 12 meters. The guide price for the subject property is S$24 million, which works out to approximately S$5,742 per square foot on land area. Mr Michael Tay (郑兆能), Head of Capital Markets, Singapore at CBRE says, “The property features compelling attributes such as a freehold tenure, regular layout and a prime location in District 9. Considering the palatable guide price for these attributes, we are optimistic that 286 and 288 River Valley Road will attract the interest of both owner occupiers and investors who take on a medium- to long-term real estate investment view.”

Mr Tay adds, “While the successful buyer will enjoy an immediate turnkey income-producing asset, he or she can also consider a potential change of use for the property or alteration works in the near future, subject to relevant authorities’ approval. For instance, the upper floors can be changed to accommodate serviced apartments or student hostel, while some other potential uses for the ground-floor units can be a clinic, a childcare centre or a restaurant.”

Located about 400 meters from Fort Canning MRT station, the subject property is also within walking distance to Fort Canning Park and Robertson Quay. Nearby landmarks include UE Square Mall and Liang Court which is in the midst of transforming into an integrated development comprising commercial, hotel and serviced apartments components.

Coupled with further rejuvenation plans underway along the Singapore River to improve pedestrian accessibility and to increase footfall, the value of real estate in the vicinity is expected to be enhanced.

CBRE is the exclusive marketing agent for 286 & 288 River Valley Road.




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