Bagnall Court up for collective sale at $125 mil
The property was built in the 1990s and also comprises 43 walk-up homes, proliferated throughout two stops that are four storeys each. It has an acreage of 69,563 sq ft zoned for residential usage with a gross plot ratio of 1.4 and also an allowable elevation of as much as 5 storeys.
Tan Hong Boon, executive director of capital markets at JLL, expects the site to draw in interested competitors from medium-sized firms, given its “convenient quantum” versus much wider Government Land Sale (GLS) sites. “The overview price of $125 million is a very affordable prices for a property location of such dimension as it contrasts really favourably with numerous current sales of suburban 99-year leasehold places, which are presently at these price index,” he includes.
Consisting of the state area as well as based on the minimal ordinary unit size of 85 sqm (914 sq ft), the place might suit approximately 113 houses.
Bagnall Court, an estate non commercial development located on Upper East Coast Highway, is up for cumulative sale by tender at an overview value of $125 million. Beyond 80% of proprietors have actually consented to the sale, according to advertising representative JLL.
Various other facilities close-by feature Eastwood Centre as well as Bedok Food Centre, which are within strolling range. Changi City Point, East Village, and the Simpang Bedok cluster of restaurants are throughout brief driving range.
The guide price converts to a land rate of around $1,260 psf per plot ratio (psf ppr) at the base gross plot ratio of 1.4 as well as taking into account an estimated land costs for the state land. Inclusive of an added 8% additional GFA, the unit land rate will certainly be around $1,180 psf ppr. JLL highlights hat the unit area rates are estimated based upon the former development charge prices since March 1, as the changed fees to be effective from Sept 1 have yet to get revealed by the related authority among switch from the development cost system to the new land betterment charge.
Bagnall Court lies at the end of Upper East Coast Road near the Bedok Road crossroads, opposite the Laguna Gold and Country Club and also Bedok Camp. It is adjacent to the upcoming Sungei Bedok MRT Station, which is an interchange for the Downtown as well as Thomson-East Coast Lines register to open up in 2025.
JLL marks that the property has a development standard equal to a gross plot ratio of regarding 1.4904. Thus, only a fairly tiny section of the additional gross floor section GFA draws in a land enhancement fee. There is additionally 4,600 sq ft of remnant state land that might likely be joined together into the site for redevelopment, enabling extra brand-new units.
The tender will close on Oct 26 at 3pm.