GSM Building at 141 Middle Road has been released for en bloc sale
GSM Building at 141 Middle Road has been released for en bloc sale at a reserve price of $98 million. It is the very first industrial site to be introduced since the lifting of some “lockdown” procedures on June 2.
The property, a corner double-frontage building fronting Middle Road, has a remaining lease term of about 61 years. The site, with a land area of 12,003 sq ft, is zoned for industrial usage with a 4.2 plot ratio and an elevation limitation of approximately 16 floors, subject to intending authorization.
The structure has three retail units on the level one and also 30 workplace units on the upper levels. It is within a five-minute walk to Bencoolen MRT Stop on the Downtown Line, Bras Basah MRT Station on the Circle Line and also Bugis MRT Station, which is an interchange for the East-West Line as well as Downtown Line.
Additionally, the property remains in close distance to shopping center such as Bugis Junction, Bugis+, Bugis Village and Sim Lim Square. There are additionally a number of schools in the area, including Singapore Management University, School of the Arts, Lasalle College of Arts and Nanyang Academy of Art.
The buyer will certainly gain from upcoming improvements in the Bugis, Bras Basah as well as Beach Road area. Mixed-used development Guoco Midtown by GuocoLand and luxurious residential condo The M Condo by WingTai Asia are being developed currently. Under URA’s Draft Master Plan 2019, brand-new park areas and streetscape improvements will be introduced in Bugis, as well as Kampong Bugis along Kallang River will certainly at the same time be created as a car-lite residential precinct with approximately 4,000 units.
The tender exercise closes at 3pm on July 16. The property is marketed by Mount Everest Properties Midwood .