Geylang development up for collective sale for $27mil
Baode Building, an eight level non commercial development at 8 Lor 35 Geylang, has already been launched for collective sale with an indicative amount of $Twenty Seven million, disclosed Colliers International.
This figures out to a ground price of about $9hundred 89 psf per ground scale or $967 psf per piece scale upon taking into account the Seven % bonus veranda GFA.
The freehold development includes Fourteen accomodation flats and utilizes a Eleven thousand One hundred and Two sq feet ground that is sector for institutional or household purpose within the 2K19 Master Plan with a complete piece ratio of 2.8. The spot similarly receives a permitted elevation of up to 8 floors.
Baode Building stands in close proximity to Paya Lebar MRT interchange terminal and also is connected to the KPE also PIE.
The project is as well near Singpost Centre, Paya Lebar Square and also Paya Lebar Quarter Shopping mall, while nearby schools consist of Geylang Methodist Primary Sch and Kong Hwa Pri Sch.
“This spot claims a fascinating potentiality for renovating or repositioning the property as it is positioned around the Paya Lebar neighborhood in which the URA Master Plan imagine to establish Paya Lebar Hub into a dynamic commercial center,” claimed Steven Tan, ED of IS at Colliers International.
“The scarce free lease term of the spot furthermore ascertains lasting confidence for developers, especially at this sort of a major career location,” he said further.
The en bloc transaction bidding for Baode Building terminates on 18 August.