Geylang development up for collective sale for $27mil
Baode Building, a 8 storey household development at 8 Lorong Thirty Five Geylang, has been put up for joint sale by having an indicative price of $Twenty Seven mil, shared Colliers Int’l.
This puts together to a ground rate of nearly $989 psf per ground ratio or $9hundred 67 per sq foot per plot ratio since considering the Seven percentage added patio GFA.
The free rental project offers Fourteen house flats and also holds a 1.0314K sq m plot that is meant for institutional or housing utilization within the 2019 Master Plan with a total lot ratio of 2.8. The place also receives an allowed altitude of up to eight levels.
Baode Building is found close to Paya Lebar Mass Rapid Transit interchange terminal and also is attached to the KPE and also Pan Island Expressway.
The development is similarly alongside Singpost Centre, Paya Lebar Square including Paya Lebar Quarter Mall, whereas nearby schools feature Geylang Methodist Primary School and also Kong Hwa Primary School.
“This ground owns an amazing opportunity for rebranding or repositioning the possession given that it’s located nearby the Paya Lebar zone in which the Urban Redevelopment Authority Master Plan consider to establish Paya Lebar Hub into a bustling industrial center,” reported Steven Tan, ED of Investment Services at Colliers Int’l.
“The uncommon free lease term of the plot furthermore ascertains lasting confidence for property developers, even more so at such a major occupation neighborhood,” he continued.
The en bloc sale bidding for Baode Building concludes on 18Aug.