Geylang development up for collective sale for $27mil
Baode Building, an eight level domestic development at Eight Lorong Thirty Five Geylang, has already been put up for en bloc by having a suggestive figure of $Twenty Seven million, exposed Colliers Int’l.
This calculates to a ground rate of almost $989 per square foot per PR or $967 per sq ft per PR when considering the 7 percent benefit deck GFA.
The free lease development presents Fourteen home flats and holds a Eleven thousand One hundred and Two square feet spot that is allocated for institutional or residence benefit under the 2K19 Master Plan with an entire PR of 2.8. The location also features a permitted height of up to eight storeys.
Baode Building stands close to Paya Lebar MRT interchange terminal and also is networked to the KPE and also Pan Island Expressway.
The development is furthermore close to Singpost Centre, Paya Lebar Square including Paya Lebar Quarter Shopping mall, whilst proximate schools involve GMPS as well as Kong Hwa Pri School.
“This spot exhibits a fascinating capacity for renovating or shifting the asset considering that it’s placed near the Paya Lebar zone where the Urban Redevelopment Authority Master Plan ideate to generate Paya Lebar Hub right into a dynamic commercial hub,” said Steven Tan, ED of Investment Services at Colliers International.
“The unusual free lease term of the ground potentially secures long-term peace of mind for developers, particularly at this type of a notable employment community,” he continued.
The collective sale offer for Baode Building ceases on 18August.