Pek Chuan Building in Lavender Street to be sold for S$80.7 million

[SINGAPORE] Pek Chuan Building, a four-storey commercial property in the Kallang area, is being sold via collective sale to local investment vehicle GH15 Ventures for S$80.7 million.

The price tag translates to a land rate of S$1,124 per square foot per plot ratio, based on the Lavender Street site’s land area of 28,700 square feet (sq ft).

The winning bid was 4.8 per cent above the S$77 million asking price when the building was relaunched for collective sale in September by Mount Everest Properties marketing agent Dillon Loi.

It also exceeded the S$80 million asking price set during the building’s previous two collective sale attempts in October 2025 and March 2026. Both tenders closed without a successful bid.

GH15 Ventures comprises GH15 Investments and H16 Capital, Accounting and Corporate Regulatory Authority filings showed.

GH15 Investments is a company registered to operate hostels and dormitories for students, workers and other individuals; H16 Capital is wholly owned by Hilltop Capital.

Colliers Singapore represented the buyer.

Under the Urban Redevelopment Authority’s Master Plan 2025, the site is zoned commercial with a plot ratio of 2.5. The development, which is located close to Lavender and Bendemeer MRT stations, has about 56 years left on its 99-year lease.

Just six units at Pek Chuan Building have been sold in the past five years, caveats data showed. Most recently, in June 2026, an office unit spanning 646 sq ft changed hands at S$715,000 or S$1,107 per square foot.

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Pek Chuan Building back on the market at same guide price of S$80 million

Pek Chuan Building in Kallang up for collective sale at S$80 million 

Nearby, the former GSM Building at 141 Middle Road was sold en bloc to a unit of LHN Group for S$80 million in 2023.

The six-storey commercial building was subsequently converted into Coliwoo Midtown, a 212-key co-living development featuring a full-sized gym, ice bath facilities, co-working spaces and commercial kitchen. It commenced operations in March 2026.

Five months later, in August, CapitaLand Ascott Trust announced that it would acquire Coliwoo Midtown for S$134 million, with Coliwoo retaining full operational control of the property.

That transaction is expected to close in the fourth quarter of 2026, following which the trust will enter into a 10-year triple-net master lease with Coliwoo Midtown.