Pek Chuan Building in Lavender Street to Be Sold for S$80.7 Million at S$1,124 Psf Ppr After Two Failed Attempts

The winning bid was 4.8 per cent above the S$77 million asking price when the building was relaunched for collective sale in September by Mount Everest Properties marketing agent Dillon Loi. It also exceeded the S$80 million asking price set during the previous two collective sale attempts, in October 2025 and March 2026, which both closed without a successful bid. Colliers Singapore represented the buyer.

GH15 Ventures comprises GH15 Investments and H16 Capital, filings with the Accounting and Corporate Regulatory Authority showed. GH15 Investments is registered to operate hostels and dormitories for students, workers and other individuals, and H16 Capital is wholly owned by Hilltop Capital.

Under the Urban Redevelopment Authority’s Master Plan 2025, the site is zoned commercial with a plot ratio of 2.5. The development is close to Lavender and Bendemeer MRT stations and has about 56 years left on its 99-year lease. Only six units at Pek Chuan Building have been sold in the past five years, caveats data showed. Most recently, in June 2026, an office unit of 646 sq ft changed hands at S$715,000, or S$1,107 psf.

Nearby, the former GSM Building at 141 Middle Road was sold en bloc to a unit of LHN Group for S$80 million in 2023. The six-storey commercial building was converted into Coliwoo Midtown, a 212-key co-living development with a full-sized gym, ice bath facilities, co-working spaces and a commercial kitchen, which commenced operations in March 2026. In August, CapitaLand Ascott Trust announced it would acquire Coliwoo Midtown for S$134 million, with Coliwoo retaining full operational control. That transaction is expected to close in the fourth quarter of 2026, after which the trust will enter a 10-year triple-net master lease with Coliwoo Midtown.