Geylang development up for collective sale for $27mil
Baode Building, a 8 floor home project at Eight Lor Thirty Five Geylang, has already been put together for en bloc with a suggestive figure of $Twenty Seven million, disclosed Colliers Int’l.
This puts together to a ground price of almost $989 per square feet per PR or $Nine hundred Sixty Seven psf per PR since considering the 7 percentage added balcony GFA.
The freehold project includes Fourteen home flats and also holds a 1.0314K square metre place that is meant for institutional or residential utilization within the 2019 Master Plan with a total PR of 2.8. The ground additionally secures an allowable elevation of right up to eight levels.
Baode Building lies near Paya Lebar Mass Rapid Transit interchange terminal and is connected to the Kallang-Paya Lebar Expressway also Pan Island Expressway.
The development is additionally across Singpost Centre, Paya Lebar Square as well as PLQ Shopping center, while proximate academic institutions consist of Geylang Methodist Primary School and also KHPS.
“This location possesses an exciting potentiality for repositioning the resource or freshen up given that it’s found close to the Paya Lebar community in which the Urban Redevelopment Authority Master Plan picture to create Paya Lebar Hub in to a dynamic industrial center,” stated Steven Tan, Exec Director of IS at Colliers Int’l.
“The uncommon freehold tenancy of the plot also guarantees long-term peace of mind for property developers, specifically at this type of a major employment zone,” he further mentioned.
The en bloc sale bidding for Baode Building concludes on 18August.