Two freehold redevelopment sites off Lavender Street up for sale

Singapore

TWO freehold redevelopment sites located off Lavender Street are up for sale by public tender, with indicative prices for 2 Cavan Road at S$47.4 million and 21 Cavan Road at S$12.6 million, joint marketing agents CBRE and HRL Properties said on Tuesday.

2 Cavan Road has a land area of about 20,100 square feet (sq ft) and houses a part-single-part-three -storey light industrial-cum-warehouse building, which is understood to have been built in the 1950s. If the property's existing building is conserved and incorporated into the proposed redevelopment, the development charge for this site will be S$18.9 million.