Geylang development up for collective sale for $27mil
Baode Building, an eight level home project at Eight Lorong 35 Geylang, has been launched for combined sale with an indicative amount of $27 million, disclosed Colliers International.
This figures out to a land rate of nearly $9hundred 89 per sq foot per lot scale or $9hundred 67 per sq ft per PR since taking into account the 7 percent perk veranda GFA.
The freehold project features Fourteen accomodation units and also covers a Eleven thousand One hundred and Two sq foot site that is zoned for institutional or home purpose under the ’19 Master Plan with a complete ground ratio of 2.8. The plot additionally secures an allowable height of as much as eight floors.
Baode Building stands nearby Paya Lebar Mass Rapid Transit interchange terminal also is networked to the KPE plus Pan Island Highway.
The development is moreover across Singpost Centre, Paya Lebar Square plus Paya Lebar Quarter Shopping center, while neighboring institutions include Geylang Methodist Pri Sch and also KHPS.
“This place possesses a fascinating capacity for rearranging the asset or renovating considering that it is found close to the Paya Lebar precinct exactly where the Urban Redevelopment Authority Master Plan consider to grow Paya Lebar Central in to a busy industrial center,” said Steven Tan, Executive Dir of IS at Colliers International.
“The rare free rental period of the place potentially makes certain long-term confidence for property developers, significantly at this type of a primary work area,” he boosted.
The en bloc sale bidding for Baode Building terminates on 18 Aug.