Pek Chuan Building En Bloc 2026 Relaunched at S$80m

City-fringe commercial site returns to market with strong redevelopment potential under URA Master Plan 2025

📍A Second Shot at a Prime Commercial Opportunity

Pek Chuan Building is back on the market with an unchanged guide price of S$80 million, offering investors and developers a rare second chance to secure a commercial asset in Singapore’s city fringe.

Located along Lavender Street in Kallang, the four-storey building’s relaunch comes amid improving sentiment in the broader property market.

With renewed confidence and shifting momentum, owners are once again testing demand for this strategically positioned site.

The property presents a compelling mix of size, location, and redevelopment potential:

👉 Land area: 28,700 sq ft
👉 Gross floor area: 71,750 sq ft
👉 Guide price: S$80 million
👉 Land rate: S$1,114 psf
👉 Tenure: 99-year leasehold (approx. 56 years remaining)
👉 Current use:
👉 Retail units (1st–3rd floors)
👉 Office units (4th floor)

These fundamentals position Pek Chuan Building as a strong candidate for repositioning or redevelopment.

📈 Strong Upside Under URA Master Plan 2025

One of the key attractions of Pek Chuan Building lies in its strong redevelopment potential.

Under the URA Master Plan 2025, the site is zoned for commercial use with a plot ratio of 2.5, allowing for a more intensive use of the land.

With this planning parameter, developers could potentially redevelop the site into a building of up to 12 storeys, significantly enhancing its overall value compared to the existing structure.

The flexibility also opens up a range of possibilities, from modern office spaces to co-living concepts or even a mixed-use commercial development designed to meet evolving urban needs.

🚆 Strategic Location Near MRT Connectivity

Location remains another standout advantage for Pek Chuan Building.

The commercial en bloc site is situated within walking distance of both Lavender and Bendemeer MRT stations, offering excellent connectivity across Singapore.

This level of accessibility makes commuting to the Central Business District and other key areas quick and convenient.

Being positioned on the city fringe, the site is especially appealing to businesses and tenants who want strong connectivity without paying premium CBD rents.

The relaunch comes at a time when Singapore’s property market is showing renewed strength, particularly in the residential segment.

Market observers note that improving conditions, along with a relatively low interest rate environment, could lead to increased investor activity.

As demand builds, there is potential for capital to spill over into the commercial strata sector, supporting pricing and transaction activity.

This makes Pek Chuan Building’s timing particularly strategic for both sellers and buyers.

🔁 Second Attempt After 2025 Tender Fell Short

This is not the property’s first time on the collective sale market.

The previous collective sale tender closed on November 10, 2025.

While an offer was received, it fell below the reserve price and failed to secure the required 80% owner consensus needed to proceed.

The decision to relaunch at the same price reflects growing confidence that market conditions have improved enough to attract stronger bids this time around.

Transaction activity at Pek Chuan Building has been notably limited, underscoring its scarcity.

👉 Only three units were sold over the past five years
👉 Most recent deal: December 2025
👉 Office unit: 646 sq ft sold for S$718,000 (~S$1,112 psf)

Such low turnover highlights the tightly held nature of the asset and its long-term investment appeal.

🏙️ Nearby Benchmark Supports Pricing

The area has seen notable commercial en bloc activity, providing a useful benchmark.

The nearby GSM Building was successfully sold for S$80 million to a unit of LHN Group (Coliwoo), reinforcing valuation expectations for similar assets in the vicinity.

This comparable transaction strengthens the case for Pek Chuan Building’s pricing and investment potential.

⏳ Tender Closing Date

Interested parties should take note of the upcoming deadline:
👉 Tender closes on April 10, 2026 at 2 PM

With improving market conditions and limited comparable opportunities, the relaunch is expected to attract close attention from developers and investors alike.

🟢 Status: Open for Tender (Relaunched)
💰 Reserve Price: S$80 million
⏳ Tenure: 99-year Leasehold (Approx. 56 years remaining)
📐 Land Size: 28,700 sq ft
🏢 Total Units: Mixed-use (Retail + Office) (Exact unit count not disclosed)
📊 Gross Plot Ratio: 2.5
📏 Gross Floor Area: 71,750 sq ft
📍 Address: 116, Lavender Street, Singapore
🚇 Nearby MRT: Lavender MRT, Bendemeer MRT
🗺️ District: District 12 (Kallang)
🏷️ Marketing Agent: Mount Everest Properties
⏰ Tender Close: April 10, 2026, 2:00 PM