Geylang development up for collective sale for $27mil
Baode Building, an eight level housing development at 8 Lorong Thirty Five Geylang, has recently been put up for en bloc with a suggestive amount of $27 mil, reported Colliers International.
This calculates to a ground rate of roughly $Nine hundred Eighty Nine psf per PR or $967 psf per piece scale when taking into account the 7 % reward balcony total ground area.
The freehold development presents 14 house units and also covers a 11thousand 1hundred and 2 square foot place that is sector for institutional or residential purpose under the ’19 Master Plan with a total plot ratio of 2.8. The ground likewise gets an allowable highness of up to eight floors.
Baode Building is found neighboring Paya Lebar Train interchange terminal furthermore is networked to the KPE and also PIE.
The project is likewise near to Singpost Centre, Paya Lebar Square as well as Paya Lebar Quarter Shopping mall, meantime neighboring academies consist of GMPS and KHPS.
“This plot owns an amazing capacity for freshen up or rearranging the resource as it is located close to the Paya Lebar area in which the Urban Redevelopment Authority Master Plan imagine to establish Paya Lebar Hub in to a busy industrial center,” shared Steven Tan, ED of IS at Colliers Int’l.
“The unusual free lease tenancy of the spot moreover assures long-term reassurance for property developers, in particular at this type of a primary employment zone,” he added in.
The en bloc transaction offer for Baode Building terminates on 18 August.