Geylang development up for collective sale for $27mil
Baode Building, a 8 storey housing project at 8 Lor Thirty Five Geylang, has been launched for en bloc with an indicative rate of $Twenty Seven mil, shared Colliers International.
This achieves to a ground estimate of roughly $Nine hundred Eighty Nine psf per PR or $9hundred 67 per square feet per lot ratio when taking into account the 7 % extra deck GFA.
The free lease development features 14 house apartments and takes up a 11.102K sq foot ground that is sector for institutional or non commercial purpose under the 2019 Master Plan with a total PR of 2.8. The ground even enjoys a permitted elevation of as much as eight levels.
Baode Building is placed in close proximity to Paya Lebar Train interchange station also is linked to the KPE and also PIE.
The development is furthermore near Singpost Centre, Paya Lebar Square also PLQ Shopping center, whilst neighboring institutions include Geylang Methodist Pri School and also Kong Hwa Pri Sch.
“This plot possesses a fascinating capacity for renovating or repositioning the property considering that it’s located nearby the Paya Lebar neighborhood where the URA Master Plan imagine to develop Paya Lebar Hub in to a bustling industrial hub,” said Steven Tan, Exec Dir of IS at Colliers Int’l.
“The unusual freehold tenancy of the spot furthermore provides long-lasting peace of mind for property developers, significantly at such a major recruitment zone,” he said further.
The joint sale transaction tender for Baode Building terminates on 18Aug.