Bagnall Court up for collective sale at $125 mil
The overview cost converts to a land cost of about $1,260 psf per plot ratio (psf ppr) at the base gross plot ratio of 1.4 and also considering a projected land costs for the state land. Inclusive of an added 8% additional GFA, the unit land rate will be approximately $1,180 psf ppr. JLL highlights hat the unit area prices are assessed based upon the former project charge rates as of March 1, as the modified fees to be effective from Sept 1 have yet to get introduced by the appropriate authority in the midst of switch from the development expense system to the colony betterment charge.
The real estate was built in the 1990s and comprises 43 walk-up condos, spread throughout 2 neighborhoods that are 4 floors each. It has a land area of 69,563 sq ft zoned for non commercial use with a gross plot ratio of 1.4 and even a permitted elevation of approximately 5 storeys.
Bagnall Court lies at the end of Upper East Coastline Road near the Bedok Street junction, opposite the Laguna Gold and Country Club as well as Bedok Camp. It borders the upcoming Sungei Bedok MRT Station, which is an interchange for the Downtown and Thomson-East Shore Lines register to open in 2025.
Consisting of the state property as well as based on the minimal ordinary unit dimension of 85 sqm (914 sq ft), the place might fit as much as 113 apartments.
Bagnall Court, a freehold non commercial project found on Upper East Coast Road, is up for combined sale by tender at an overview price of $125 million. Beyond 80% of owners have actually consented to the sale, according to marketing broker JLL.
JLL notes that the property has a development primary equal to a gross plot ratio of about 1.4904. Therefore, only a fairly tiny section of the extra gross flooring area GFA attracts a land betterment fee. There is also 4,600 sq ft of remnant state land that can possibly be joined together within the spot for redevelopment, enabling added brand-new units.
Other services neighboring feature Eastwood Centre and Bedok Food Centre, which are within strolling proximity. Changi City Point, East Village, as well as the Simpang Bedok cluster of dining establishments are throughout brief driving distance.
Tan Hong Boon, executive supervisor of capital markets at JLL, anticipates the place to bring in keen competitors from medium-sized firms, given its “convenient quantum” opposing considerably larger Government Land Sale (GLS) spots. “The guide cost of $125 million is a quite practical pricing for an estate domestic location of such dimension as it contrasts really favourably with a number of current sales of suburban 99-year leasehold sites, which are currently at these price levels,” he includes.
The tender will close on Oct 26 at 3pm.
