GSM Building at 141 Middle Road has actually been launched for en bloc
GSM Building at 141 Middle Road has actually been launched for en bloc sale at a base price of $98 million. It is the first industrial site to be launched since the lifting of some “circuit breaker” measures on June 2.
The commercial property, a corner double-frontage building fronting Middle Road, has a balance lease term of approximately 61 years. The site, with a land area of 12,003 sq ft, is zoned for business use with a 4.2 plot ratio and also a height restriction of up to 16 floors, based on planning authorization.
The structure has three retail shops on the ground floor and 30 office units on the higher levels. It is within a five-minute walk to Bencoolen MRT Station on the Downtown Line, Bras Basah MRT Station on the Circle Line and Bugis MRT Station, which is an interchange for the East-West Line and also Downtown Line.
Additionally, the building is in close proximity to mall such as Bugis Junction, Bugis+, Bugis Village and Sim Lim Square. There are also a number of schools in the vicinity, including Singapore Management University, School of the Arts, Lasalle College of Arts as well as Nanyang Academy of Fine Arts.
The Avenir Condo buyer will certainly take advantage of upcoming changes in the Bugis, Bras Basah and also Beach Road location. Mixed-used development Guoco Midtown by GuocoLand as well as luxurious residential condo The M by WingTai Asia are being built currently. Under URA’s Draft Master Plan 2019, brand-new park spaces and streetscape makeovers will certainly be introduced in Bugis, and also Kampong Bugis along Kallang River will also be developed as a car-lite residential precinct with around 4,000 units.
The tender exercise closes at 3pm on July 16. The property is marketed by Mount Everest Quality.