Geylang development up for collective sale for $27mil
Baode Building, a 8 floor home project at Eight Lor 35 Geylang, has been put together for en bloc with an indicative rate of $27 million, reported Colliers International.
This puts together to a ground price of almost $9hundred 89 per square ft per land proportion or $Nine hundred Sixty Seven psf ppr after including the 7 % bonus porch total ground size.
The free lease project offers Fourteen housing apartments and occupies a Eleven thousand One hundred and Two square foot site that is zoned for institutional or non commercial utilization within the 2019 Master Plan with an entire plot ratio of 2.8. The location additionally features an allowed elevation of until 8 levels.
Baode Building is found in close proximity to Paya Lebar Mass Rapid Transit interchange station and is networked to the KPE plus PIE.
The project is at the same time beside Singpost Centre, Paya Lebar Square plus Paya Lebar Quarter Shopping mall, whereas neighboring academic institutions include Geylang Methodist Pri School and KHPS.
“This place exhibits a fantastic potential for repositioning the asset or freshen up given that it’s positioned near the Paya Lebar area where the URA Master Plan ideate to build Paya Lebar Central toward a busy industrial center,” revealed Steven Tan, Exec Dir of IS at Colliers Int’l.
“The rare freehold period of the plot also secures long-lasting reassurance for makers, significantly at this sort of a notable work location,” he added.
The en bloc sale bidding for Baode Building closes on 18August.