The 4-storey freehold building located off the main junction of Thomson Road has been put up for sale with an indicative price of S$26 million by expression of interest (EOI).
Under the 2014 Master Plan, the site at 2 Derbyshire Road with a total land area of about 6,768 sq ft. is zoned for Civic and Community Institution usage. Currently it has around 8,742 sq ft gross floor area and has been granted approval for the change of use to kindergarten and child care centre since 2010, same year which the building was completed.
According to CBRE’s director for Investment Properties, Sammi Lim, the approval for use as kindergarten and child care centre is seemly a positive selling point for the Freehold site, as the current rental income will be appealing to some investors. Buyers have the choice to own the property for long-term income flow or perform additions works or alterations to improve the building for own use.
Investor buyer can also deal with different options to explore other change of use of the property, Sammi Lim added.
The 2 Derbyshire Road sites expects to receive keen interest from investors, as the site is located within a Good Class Bungalow Area close to 6 Derbyshire and also conveniently in close proximity to many amenities.
CBRE Group is the only marketing agent for this freehold site.