GSM Building at 141 Middle Road has been launched for en bloc sale
GSM Building at 141 Middle Road has been launched for en bloc sale at a base rate of $98 million. It is the very first industrial site to be released since the removal of some “circuit breaker” procedures on June 2.
The property, a corner double-frontage building fronting Middle Road, has a residue lease term of approximately 61 years. The site, with an acreage of 12,003 sq ft, is zoned for business usage with a 4.2 plot ratio as well as a height limitation of as much as 16 floors, based on preparing approval.
The structure has three retail shops on the ground floor as well as 30 workplace units on the upper floors. It is within a five-minute walk to Bencoolen MRT Stop on the Downtown Line, Bras Basah MRT Station on the Circle Line as well as Bugis MRT Station, which is an interchange for the East-West Line and also Downtown Line.
Furthermore, the tower remains in close proximity to shopping center such as Bugis Junction, Bugis+, Bugis Village as well as Sim Lim Square. There are likewise several schools in the vicinity, including Singapore Management University, School of the Arts, Lasalle College of Arts as well as Nanyang Academy of Art.
The purchaser will certainly take advantage of upcoming changes in the Bugis, Bras Basah and also Beach Road vicinity. Mixed-used development Guoco Midtown by GuocoLand and also residential condo The M by WingTai Asia are being developed presently. Under URA’s Draft Master Plan 2019, brand-new park areas and also streetscape remodelings will certainly be introduced in Bugis, as well as Kampong Bugis along Kallang River will certainly at the same time be created as a car-lite residential precinct with approximately 4,000 units.
The tender exercise shuts at 3pm on July 16. The building is marketed by Clavon Condo Mount Everest Feature.