Geylang development up for collective sale for $27mil
Baode Building, an eight floor residence development at 8 Lorong Thirty Five Geylang, has been put up for combined sale by having a suggestive value of $Twenty Seven mil, reported Colliers International.
This formulates to a ground price of around $989 psf per plot scale or $Nine hundred Sixty Seven per square ft per PR when taking into account the 7 percent benefit deck GFA.
The free lease project offers Fourteen lodging apartments and inhabits a 11.102K square foot location that is sector for institutional or non commercial utilization within the 2019 Master Plan with a gross land proportion of 2.8. The plot additionally has an allowable altitude of right up to eight floors.
Baode Building is found near Paya Lebar Mass Rapid Transit interchange terminal also is linked to the Kallang-Paya Lebar Highway and Pan Island Expressway.
The development is also close to Singpost Centre, Paya Lebar Square as well as PLQ Shopping mall, whereas nearby academies include GMPS as well as KHPS.
“This spot boasts an interesting opportunity for freshen up or rearranging the possession considering that it’s placed near the Paya Lebar district in which the URA Master Plan visualize to generate Paya Lebar Central into a dynamic industrial center,” said Steven Tan, ED of IS at Colliers Int’l.
“The unusual free rental tenure of the place moreover guarantees lasting peace of mind for makers, even more so at such a significant employment place,” he further mentioned.
The collective sale tender for Baode Building concludes on 18 August.