04/06/2026
This freehold block on Cavenagh Road just went up for sale at $60 million.
Cavenagh Fortuna is a 26-unit freehold residential block opposite the Istana, marketed by JLL via expression of interest. The guide price works out to around $2,599 psf on net floor area, or $1,979 psf on gross floor area.
The development sits on a 29,095 sq ft site and was refurbished between 2014 and 2016. From 2021 to 2025, it maintained an average occupancy rate of 98%.
The incoming owner has several options: retain and lease out the units, convert to serviced apartments, bring in a coliving operator, or redevelop the site. The two land lots are also currently being amalgamated into a single title. The EOI closes on 15 July 2026.
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