Bagnall Court up for collective sale at $125 mil
Consisting of the state area and also based on the smallest typical unit measurements of 85 sqm (914 sq ft), the area might suit approximately 113 houses.
Bagnall Court lies at the end of Upper East Shore Route near the Bedok Street junction, opposite the Laguna Gold and Country Club and Bedok Camp. It borders the upcoming Sungei Bedok MRT Terminal, which is an interchange for the Downtown and also Thomson-East Shore Lines schedule to open up in 2025.
Bagnall Court, a freehold non commercial development found on Upper East Coast Road, is up for combined sale by tender at an overview value of $125 million. More than 80% of proprietors have granted the sale, according to advertising and marketing broker JLL.
The guide price equates to a land price of around $1,260 psf per plot ratio (psf ppr) at the base gross plot ratio of 1.4 and taking into account an estimated land rates for the state land. Inclusive of an additional 8% extra GFA, the unit land rate will be around $1,180 psf ppr. JLL highlights hat the unit property fees are assessed based on the past project charge rates as of March 1, as the modified prices to be effective from Sept 1 have yet to get introduced by the relevant authority between transitioning from the development expense system to the colony improvement charge.
The property was built in the 1990s and comprises 43 walk-up homes, spread out throughout two blocks that are 4 storeys each. It has an acreage of 69,563 sq ft zoned for residence usage with a gross plot ratio of 1.4 and even an allowed level of up to five storeys.
Various other services neighboring feature Eastwood Centre and Bedok Food Centre, which are within strolling range. Changi City Point, East Town, as well as the Simpang Bedok collection of eateries are throughout short driving distance.
Tan Hong Boon, executive director of capital markets at JLL, assumes the location to attract eager competitors from medium-sized firms, offered its “manageable quantum” against much larger Government Land Sale (GLS) areas. “The guide cost of $125 million is a really affordable pricing for a property household site of such dimension as it compares really positively with numerous current sales of suburban 99-year leasehold sites, which are presently at these price index,” he adds.
JLL marks that the building has a property primary equal to a gross plot ratio of regarding 1.4904. Thus, just a fairly tiny area of the extra gross flooring section GFA attracts a land improvement cost. There is additionally 4,600 sq ft of remnant state land that can likely be joined together within the spot for redevelopment, allowing for additional brand-new units.
The tender will close on Oct 26 at 3pm.
