Geylang development up for collective sale for $27mil
Baode Building, a 8 level household development at Eight Lorong Thirty Five Geylang, has already been put up for en bloc with a suggestive rate of $Twenty Seven mil, revealed Colliers Int’l.
This formulates to a ground estimate of almost $989 per sq ft ppr or $967 psf per plot scale after taking into account the 7 percent perk balcony gross floor space.
The free lease project features 14 housing flats and inhabits a 1,031.4 square meter plot that is meant for institutional or household purpose beneath the 2K19 Master Plan with a gross PR of 2.8. The plot furthermore secures an allowed highness of around 8 storeys.
Baode Building stands nearby Paya Lebar MRT interchange station and also is networked to the Kallang-Paya Lebar Highway also Pan Island Expressway.
The development is additionally alongside Singpost Centre, Paya Lebar Square plus Paya Lebar Quarter Shopping mall, while close-by academic institutions consist of GMPS and also KHPS.
“This location exhibits a fascinating potential for renovating or rearranging the resource since it is found around the Paya Lebar zone where the URA Master Plan picture to build Paya Lebar Central right into a dynamic commercial hub,” revealed Steven Tan, Exec Director of Investment Services at Colliers International.
“The uncommon free rental tenure of the ground at the same time makes certain long-lasting reassurance for property developers, especially at this sort of a primary employment area,” he further mentioned.
The combined sale transaction offer for Baode Building closes on 18 August.