The Lavender Collection are all freehold properties, that can be zoned for industrial use.
An enquiry about the evolution baseline of a few of these concluded it was large, in a plot ratio of 3.0. There are no development costs payable.
See The M condo Middle Road Bugis location for more details.
These are industrial shophouses. Neither Added Buyer’s Stamp Duty (ABSD) nor Seller’s Stamp Duty (SSD) is payable at the buy (however, notice that seven percent GST is payable because of industrial properties).
Besides the typical refurbishments and leasing income, potential owners may wish to think about additional development of the properties by building extensions. A six-storey back extension in the back of this shophouses would double the portfolio’s gross floor area into 147,732 sq feet (with the approval of the relevant police ). But do note that because this is a conservation shophouse, there could be limited choices in aligning its entrance facade.
Alternativelythey may rent them out and maintain them to get long term earnings and security.
Located in Jalan Besar, this group can be found in the middle of a medical and commercial hub, backed by different F&B (food and beverage) and lifestyle offerings. The collection’s place on the city fringes is tantalisingly near the decent places — but a lack of appropriate or adequate parking spaces may worry some renters.
But, its remains a 13 second walk in Boon Keng MRT station, a 3 minute walk in Bendemeer MRT station, along with a 14 minute walk from Farrer Park MRT station. It’s likewise a 10-minute drive in the central business district and Orchard Road.
Most importantly, the shophouses have high visibility from the main street; together with the brief distance to the MRT, it may offset the parking problem.
New improvements in the neighbourhood are also underway, including Centrium Square — a 19-storey business development consisting of retail, health suites and office area; and Uptown@Farrer, a mixed-use development comprising retail and residential area.
Likely future improvements include the addition of new residential precincts in Kampong Bugis and the Kallang Airport region. More athletic and community facilities are expected too.
Who is buying?
We guess that the buyers of these shophouses are likely to be companies. People rarely have the type of money it would have to buy and redevelop it. But for people who are able to afford it, this is a fantastic investment. Conservation shophouses rarely come up for sale, and shophouses generally maintain their costs very well. And of course, all these are freehold properties, positioned to benefit greatly from prospective economic development of the region. While buying the collection of possessions is a profitable bargain, we guess not all of 32 shophouses will be stored together. Expect to find some of them available individually from the (relatively) long run.