Geylang development up for collective sale for $27mil
Baode Building, a 8 storey residential development at Eight Lorong 35 Geylang, has been put up for en bloc with an indicative value of $Twenty Seven mil, communicated Colliers International.
This attains to a ground estimate of nearly $Nine hundred Eighty Nine per square foot ppr or $9hundred 67 psf per piece ratio upon including the 7 percentage advantage veranda GFA.
The free lease development presents 14 lodging units also takes up a 1,031.4 sq metre plot that is meant for housing or institutional purpose within the 2019 Master Plan with a total PR of 2.8. The site at the same time possesses a permitted altitude of until 8 floors.
Baode Building is found close-by Paya Lebar MRT interchange terminal and also is connected to the Kallang-Paya Lebar Expressway and also Pan Island Highway.
The development is moreover close to Singpost Centre, Paya Lebar Square as well as Paya Lebar Quarter Shopping center, while proximate institutions involve GMPS and Kong Hwa Primary School.
“This place exhibits an interesting capacity for rebranding or rearranging the property as it’s situated nearby the Paya Lebar district exactly where the Urban Redevelopment Authority Master Plan ideate to establish Paya Lebar Hub in to a bustling commercial hub,” stated Steven Tan, ED of Investment Services at Colliers International.
“The unusual free rental tenancy of the spot furthermore secures lasting confidence for makers, even more so at this type of a major recruitment neighborhood,” he included.
The joint sale transaction bidding for Baode Building concludes on 18 Aug.