Geylang development up for collective sale for $27mil
Baode Building, a 8 storey domestic project at Eight Lor 35 Geylang, has been put together for collective sale with a suggestive figure of $Twenty Seven million, reported Colliers Int’l.
This works out to a ground price of roughly $Nine hundred Eighty Nine per sq feet per piece ratio or $9hundred 67 per sq foot per PR upon taking into account the Seven percent extra patio complete ground size.
The free lease project offers Fourteen lodging apartments and occupies a 11,102 sq foot site that is zoned for housing or institutional utilization beneath the 2019 Master Plan with a total PR of 2.8. The site similarly gets an allowed elevation of as high as 8 storeys.
Baode Building is situated nearby Paya Lebar Mass Rapid Transit interchange station also is attached to the Kallang-Paya Lebar Expressway and PIE.
The project is furthermore around Singpost Centre, Paya Lebar Square also PLQ Shopping center, while neighboring schools include Geylang Methodist Pri Sch and also KHPS.
“This spot possesses a fascinating potentiality for renovating or repositioning the asset since it’s situated near the Paya Lebar community in which the Urban Redevelopment Authority Master Plan consider to grow Paya Lebar Hub in to a busy commercial center,” pointed out Steven Tan, ED of IS at Colliers International.
“The uncommon free rental tenancy of the place at the same time assures long-lasting reassurance for real estate investors, even more so at this sort of a significant career zone,” he boosted.
The collective sale transaction tender for Baode Building ceases on 18 August.
