Geylang development up for collective sale for $27mil
Baode Building, a 8 storey domestic project at 8 Lor 35 Geylang, has recently been launched for en bloc with an indicative cost of $Twenty Seven million, exposed Colliers International.
This works out to a land price of almost $9hundred 89 per square foot ppr or $Nine hundred Sixty Seven psf per PR when including the 7 % perk porch GFA.
The free lease development presents 14 lodging apartments and fills a 11thousand 1hundred and 2 square feet ground that is meant for institutional or housing application beneath the 2K19 Master Plan with a gross PR of 2.8. The place also includes an allowed altitude of until eight levels.
Baode Building is placed close-by Paya Lebar Train interchange terminal and also is linked to the KPE and also Pan Island Expressway.
The development is likewise beside Singpost Centre, Paya Lebar Square plus PLQ Shopping mall, while close-by schools involve Geylang Methodist Primary School and Kong Hwa Pri Sch.
“This ground boasts an impressive potential for freshen up or rearranging the asset since it’s positioned close to the Paya Lebar community in which the URA Master Plan consider to generate Paya Lebar Central into a dynamic commercial hub,” pointed out Steven Tan, ED of Investment Services at Colliers International.
“The uncommon freehold term of the spot additionally ensures long-lasting peace of mind for makers, especially at this sort of a major occupation location,” he further mentioned.
The joint sale bidding for Baode Building terminates on 18 Aug.