Geylang development up for collective sale for $27mil
Baode Building, an eight floor residential project at 8 Lor Thirty Five Geylang, has recently been launched for en bloc by having an indicative cost of $27 mil, shared Colliers Int’l.
This figures out to a land rate of approximately $989 psf per land scale or $9hundred 67 psf per PR after considering the 7 percentage reward patio entire floor size.
The free rental development offers Fourteen housing flats also occupies a 1.0314K square meter site that is zoned for institutional or non commercial application beneath the ’19 Master Plan with a total PR of 2.8. The ground likewise gets an allowable height of approximately 8 storeys.
Baode Building stands in close proximity to Paya Lebar Mass Rapid Transit interchange terminal plus is connected to the KPE and Pan Island Expressway.
The project is moreover near Singpost Centre, Paya Lebar Square plus Paya Lebar Quarter Shopping mall, while close-by academic institutions include Geylang Methodist Primary School as well as Kong Hwa Primary Sch.
“This spot claims an appealing opportunity for renovating or shifting the property since it’s located close to the Paya Lebar area exactly where the Urban Redevelopment Authority Master Plan visualize to grow Paya Lebar Hub in the direction of through to a busy commercial center,” claimed Steven Tan, Exec Director of Investment Services at Colliers Int’l.
“The scarce free lease term of the location moreover provides long-lasting confidence for real estate investors, in particular at such a major job community,” he further mentioned.
The en bloc sale bidding for Baode Building terminates on 18Aug.