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 rate of $98 million. It is the very first business site to be released since the removal of some “circuit breaker” efforts on June 2.
The commercial property, a corner double-frontage building fronting Middle Road, has a residue lease term of approximately 61 years. The land, with a land size of 12,003 sq ft, is zoned for industrial use with a 4.2 plot ratio and also a height constraint of approximately 16 storeys, based on intending authorization.
The building has three retail units on the level one and 30 workplace units on the higher 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 Bugis MRT Station, which is an interchange for the East-West Line and also Downtown Line.
Additionally, the commercial property remains in close distance to mall such as Bugis Junction, Bugis+, Bugis Village and Sim Lim Square. There are additionally several schools in the area, including Singapore Management University, School of the Arts, Lasalle College of Arts and also Nanyang Academy of Fine Arts.
The purchaser will certainly take advantage of upcoming transformations in the Bugis, Bras Basah and also Beach Road precinct. Mixed-used development Guoco Midtown by GuocoLand as well as luxurious residential condominium The M by WingTai Asia are being constructed right now. Under URA’s Draft Master Plan 2019, brand-new park spaces and streetscape makeovers will certainly be introduced in Bugis, and Kampong Bugis along Kallang River will at the same time be developed as a car-lite residential precinct with around 4,000 units.
The tender exercise shuts at 3pm on July 16. The Riviere Condo property is marketed by Mount Everest Characteristic.