CBRE launches expression of interest for freehold site in Novena

CBRE has launched an expression of interest (EOI) for the sale of a freehold site at 2 Derbyshire Road.

Nestled in Novena within an established residential enclave, the 6,768 sq ft site comes with an existing four-storey building, and its current gross floor area is about 8,742 sq ft.

Located just off the main junction of Thomson Road, the site is zoned for “civic and community institution”. It is served by various transport nodes, with easy accessibility to town and the rest of Singapore, and is within walking distance from Novena MRT station.

CBRE director for investment properties Sammi Lim noted that the approval for use as a childcare centre and kindergarten is considered a positive selling point for the site, and the current rental income will be attractive to an investor buyer.

But buyers can also explore further change of use of the property or convert the premises to cater to their own or the tenant’s usage requirements, subject to approval from the authorities.

The EOI exercise will close on June 30.

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