{"id":24248,"date":"2019-03-21T13:26:54","date_gmt":"2019-03-21T05:26:54","guid":{"rendered":"https:\/\/www.99.co\/blog\/singapore\/?p=24248"},"modified":"2022-06-13T17:06:29","modified_gmt":"2022-06-13T09:06:29","slug":"2-freehold-sites-up-for-sale-along-cavan-road","status":"publish","type":"post","link":"https:\/\/www.99.co\/singapore\/insider\/2-freehold-sites-up-for-sale-along-cavan-road\/","title":{"rendered":"2 Freehold Sites Up for Sale Along Cavan Road"},"content":{"rendered":"
<\/div>

Two freehold sites are up for sale along Cavan Road (District 8). While they were once industrial, they’ve now been rezoned for residential use:<\/p>\n

The two freehold redevelopment sites are <\/span>at 2 and 21 Cavan Road (District 8). <\/span>2 Cavan Road has 20,100 square feet of land, selling at $47.4 million – this site once housed Kwong Soon & Co Engineering Works (a much celebrated homegrown ship repair firm). Development Charges (DCs) are expected to be around $18.9 million, as this is considered a heritage building (it is subject to certain conservation rules).
\n<\/span><\/p>\n

Note that new extensions of up to a six-storey height – within the conservation guidelines – are permitted. There’s no Strata Titles Board (STB) approval required, as both these sites belong to a single owner.<\/p>\n

21 Cavan Road features an industrial building from 1975, with a smaller land area of 8,529 square feet. The plot sells for $12.6 million. DCs are expected to be near $15.5 million.<\/span><\/p>\n

Each site is estimated to be priced at $1,100 per square foot per plot ratio. Under URA’s 2014 Master Plan, both sites are zoned “residential with commercial at first storey,<\/em>” with a 3.0 plot ratio.<\/p>\n

Both sites have an underutilised gross floor area – buyers can maximise 2 Cavan Road to about 60,301 square feet, and 21 Cavan Road to about 25,588 square feet.<\/p>\n

Why these sites are especially interesting:<\/h3>\n

It’s interesting that an industrial building with so much heritage is becoming residential; we can’t wait to see the marketing spin that any developer or landlord will put on that. We’re betting there’s some hipster appeal here, if Chye Seng Huat Hardware (that’s a cafe<\/em> by the way) is anything to go by.<\/p>\n

The other source of appeal will be the freehold status of these sites, in District 8 (a notably downturn-resistant neighbourhood).<\/p>\n

Do you think there’s a hipster appeal to these sites? Voice your thoughts in our comments section or on our Facebook community page<\/a>.
\n<\/em><\/p>\n

 <\/p>\n

Looking for a property? Find the home of your dreams today on Singapore\u2019s largest property portal 99.co<\/a>! You can also access a wide range of tools to calculate your down payments and loan repayments<\/a>, to make an informed purchase.<\/p>\n

 <\/p>\n

<\/div>\n
<\/div>\n","protected":false},"excerpt":{"rendered":"

Two freehold sites are up for sale along Cavan Road (District 8). 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