A four-storey mixed-use building along River Valley Road is being put up for sale by CBRE. It sits on a freehold site of around 4,180 sq ft which is zoned “residential with commercial use at the first storey”, according to the 2019 URA Master Plan. The guide price is $24 million or $5,742 psf on land area.

Based on the existing plot ratio of 2.8, the building has a total built-up area of around 11,660 sq ft. The two units on the ground floor are tenanted to beauty service salons. The building also has six carpark lots.

According to a press release by CBRE, the property’s address at 286–288 River Valley Road is “strategically located”. It also enjoys “high visibility with its prominent main road frontage of approximately 12m”. The building is within walking distance to Fort Canning Park and Robertson Quay. The nearest MRT station is Fort Canning on the Downtown Line, which is around 400m away.

Michael Tay, head of capital markets at CBRE, says that the property is likely to attract owner-occupiers and investors who take a medium- to long-term view on real estate investments.

Tay adds that the property can be redeveloped into serviced apartments or student hostel, subject to the approval of relevant authorities. The ground floor can also be tenanted to clinics, childcare centres or restaurants.

The nearby Liang Court will be redeveloped by CDL and CapitaLand into an integrated development with 700 residential apartments, targeted to complete by 2024. There are also plans to rejuvenate the surrounding river promenade in line with URA Master Plan 2019.

CBRE is the exclusive marketing agent for the mixed-used building. The expression of interest exercise will close on Sept 30 at 3pm.