Geylang development up for collective sale for $27mil
Baode Building, an eight floor residence development at 8 Lorong Thirty Five Geylang, has already been put together for joint sale with an indicative value of $Twenty Seven million, reported Colliers Int’l.
This works out to a ground rate of around $9hundred 89 psf per PR or $9hundred 67 psf per land proportion upon including the Seven % extra balcony entire ground space.
The free rental development includes 14 accomodation apartments and also takes up a 11thousand 1hundred and 2 square ft place that is zoned for residential or institutional usage under the 2019 Master Plan with a total PR of 2.8. The site furthermore gets an allowable height of right up to eight floors.
Baode Building lies close-by Paya Lebar MRT interchange terminal and is linked to the KPE and Pan Island Expressway.
The project is also near Singpost Centre, Paya Lebar Square and PLQ Mall, whilst neighboring institutions involve GMPS and Kong Hwa Primary Sch.
“This location claims an exciting potential for repositioning the asset or renovating considering that it’s positioned near the Paya Lebar neighborhood exactly where the Urban Redevelopment Authority Master Plan visualize to generate Paya Lebar Hub in the direction of through to a dynamic commercial center,” claimed Steven Tan, ED of Investment Services at Colliers International.
“The rare free lease tenancy of the plot moreover makes sure extended confidence for real estate investors, specifically at this type of a significant job place,” he said further.
The en bloc sale bidding for Baode Building terminates on 18August.