Geylang development up for collective sale for $27mil
Baode Building, a 8 storey domestic project at 8 Lor 35 Geylang, has already been put up for combined sale with a suggestive price of $Twenty Seven mil, reported Colliers International.
This figures out to a ground cost of about $9hundred 89 psf ppr or $Nine hundred Sixty Seven per square ft per ground proportion after taking into account the 7 percentage perk terrace total floor space.
The free rental project includes 14 lodging apartments also utilizes a 1,031.4 sq m location that is meant for institutional or non commercial use beneath the 2K19 Master Plan with a complete PR of 2.8. The plot even possesses a permitted height of approximately eight storeys.
Baode Building lies close-by Paya Lebar MRT interchange station and is networked to the Kallang-Paya Lebar Expressway also Pan Island Highway.
The development is moreover across Singpost Centre, Paya Lebar Square including Paya Lebar Quarter Shopping center, whereas proximate institutions involve Geylang Methodist Pri Sch as well as KHPS.
“This site claims an impressive capacity for freshen up or repositioning the resource since it’s located near the Paya Lebar district where the URA Master Plan envisage to create Paya Lebar Hub right into a bustling industrial hub,” reported Steven Tan, Executive Dir of IS at Colliers International.
“The scarce free rental tenure of the site in addition makes sure lasting confidence for property developers, even more so at such a significant employment vicinity,” he further mentioned.
The collective sale tender for Baode Building terminates on 18Aug.