Bagnall Court up for collective sale at $125 mil
Bagnall Court is situated at the end of Upper East Coast Road near the Bedok Road crossroads, opposite the Laguna Gold and Country Club and Bedok Camp. It borders the upcoming Sungei Bedok MRT Terminal, which is an interchange for the Downtown as well as Thomson-East Coastline Lines register to open up in 2025.
The overview rate translates to a land rate of about $1,260 psf per plot ratio (psf ppr) at the base gross plot ratio of 1.4 and taking into consideration an estimated land costs for the state land. Inclusive of an additional 8% additional GFA, the unit land rate will certainly be around $1,180 psf ppr. JLL highlights hat the unit land prices are estimated based on the past project charge prices since March 1, as the revised prices to be effective from Sept 1 have yet to get publicized by the relevant authority between shift from the development charge system to the colony betterment cost.
Consisting of the state area and also based upon the minimal average unit size of 85 sqm (914 sq ft), the place may fit as much as 113 condominiums.
Bagnall Court, a freehold residential property development situated on Upper East Coast Roadway, is up for combined sale by tender at a guide value of $125 million. Greater than 80% of owners have consented to the sale, according to advertising agent JLL.
Tan Hong Boon, executive director of capital markets at JLL, assumes the location to attract interested competitors from medium-sized firms, given its “manageable quantum” versus considerably bigger Government Land Sale (GLS) areas. “The guide price of $125 million is a quite affordable pricing for an estate domestic site of such dimension as it contrasts really favourably with a number of current sales of rural 99-year leasehold places, which are currently at these price levels,” he includes.
The real estate was integrated in the 1990s and consists of 43 walk-up houses, proliferated throughout two blocks that are 4 storeys each. It has a land area of 69,563 sq ft zoned for non commercial usage with a gross plot ratio of 1.4 and also an allowed height of approximately five floors.
Other features nearby feature Eastwood Centre and Bedok Food Centre, which are within strolling proximity. Changi City Point, East Town, and the Simpang Bedok collection of dining establishments are inside short driving range.
JLL notes that the residential property has a development baseline equivalent to a gross plot ratio of regarding 1.4904. As such, only a fairly small area of the extra gross flooring section GFA attracts a land betterment fee. There is additionally 4,600 sq ft of remnant state land that could most likely be integrated right into the spot for redevelopment, permitting added brand-new units.
The tender will finalize on Oct 26 at 3pm.
