Geylang development up for collective sale for $27mil
Baode Building, an eight-storey residential project at 8 Lor 35 Geylang, has been put up for combined sale by having an indicative price of $Twenty Seven mil, revealed Colliers Int’l.
This attains to a ground price of roughly $Nine hundred Eighty Nine psf per piece scale or $Nine hundred Sixty Seven per sq ft per PR after taking into account the Seven percent perk deck GFA.
The free lease development includes 14 housing flats and holds a 1.0314K square m location that is sector for institutional or non commercial purpose beneath the 2019 Master Plan with a complete lot scale of 2.8. The plot even holds an allowed tallness of as high as 8 storeys.
Baode Building stands in close proximity to Paya Lebar Mass Rapid Transit interchange terminal and is linked to the Kallang-Paya Lebar Highway and PIE.
The development is also near to Singpost Centre, Paya Lebar Square including PLQ Mall, meantime proximate academic institutions include Geylang Methodist Pri School and Kong Hwa Primary Sch.
“This ground claims a fantastic capacity for freshen up or repositioning the possession considering that it’s positioned near the Paya Lebar zone where the URA Master Plan ideate to generate Paya Lebar Central in to a dynamic commercial hub,” shared Steven Tan, ED of Investment Services at Colliers International.
“The unusual freehold tenancy of the place potentially ascertains lasting peace of mind for property developers, even more so at this sort of a major work zone,” he added.
The en bloc sale offer for Baode Building ceases on 18 Aug.