GSM Building at 141 Middle Road has actually been released for en bloc
GSM Building at 141 Middle Road has actually been released for en bloc sale at a reserve rate of $98 million. It is the first industrial site to be released since the lifting of some “lockdown” procedures on June 2.
The property, a corner double-frontage building facing Middle Road, has a residue lease term of about 61 years. The site, with a land size of 12,003 sq ft, is zoned for business usage with a 4.2 plot ratio as well as a height constraint of approximately 16 floors, based on intending authorization.
The building has three retail units on the ground floor and 30 office units on the higher floors. It is within a five-minute stroll to Bencoolen MRT Stop on the Downtown Line, Bras Basah MRT Station on the Circle Line as well as Bugis MRT Station, which is an interchange for the East-West Line as well as Downtown Line.
Furthermore, the tower remains in close distance to shopping centres such as Bugis Junction, Bugis+, Bugis Village and Sim Lim Square. There are additionally numerous schools in the area, including Singapore Management University, School of the Arts, Lasalle College of Arts and also Nanyang Academy of Art.
The Klimt Cairnhill purchaser will gain from upcoming changes in the Bugis, Bras Basah as well as Beach Road location. Mixed-used development Guoco Midtown by GuocoLand as well as residential condo The M by WingTai Asia are being constructed right now. Under URA’s Draft Master Plan 2019, new park areas and streetscape improvements will certainly be presented in Bugis, as well as Kampong Bugis along Kallang River will certainly at the same time be developed as a car-lite residential precinct with about 4,000 units.
The tender exercise shuts at 3pm on July 16. The building is marketed by Mount Everest Feature.