GSM Building at 141 Middle Road has actually been launched
GSM Building at 141 Middle Road has actually been launched for en bloc sale at a base rate of $98 million. It is the very first industrial site to be introduced since the lifting of some “lockdown” efforts on June 2.
The building, a corner double-frontage building facing Middle Road, has a balance lease term of around 61 years. The site, with a land size of 12,003 sq ft, is zoned for commercial usage with a 4.2 plot ratio and an elevation limitation of up to 16 floors, based on intending approval.
The structure has three retail shops on the ground floor as well as 30 office units on the higher floors. It is within a five-minute walk to Bencoolen MRT Stop on the Downtown Line, Bras Basah MRT Station on the Circle Line and also Bugis MRT Station, which is an interchange for the East-West Line as well as Downtown Line.
Additionally, the building is in close proximity to shopping centres such as Bugis Junction, Bugis+, Bugis Village and Sim Lim Square. There are also numerous schools in the precinct, including Singapore Management University, School of the Arts, Lasalle College of Arts and Nanyang Academy of Fine Arts.
The purchaser will certainly gain from upcoming developments in the Bugis, Bras Basah and Beach Road area. Mixed-used development Guoco Midtown by GuocoLand and also luxurious residential condominium The M by WingTai Asia are being developed currently. Under URA’s Draft Master Plan 2019, brand-new park areas as well as streetscape remodelings will certainly be presented in Bugis, as well as Kampong Bugis along Kallang River will certainly likewise be established as a car-lite residential precinct with approximately 4,000 units.
The tender exercise closes at 3pm on July 16. The property Avenue South Residence is marketed by Mount Everest Quality.