Geylang development up for collective sale for $27mil
Baode Building, a 8 storey residential project at Eight Lorong 35 Geylang, has already been put up for en bloc with an indicative rate of $27 million, revealed Colliers Int’l.
This figures out to a land cost of nearly $989 per square ft per PR or $9hundred 67 psf per ground ratio after including the 7 percent benefit deck GFA.
The freehold project offers Fourteen housing flats and also covers a 11.102K square foot site that is sector for institutional or residential benefit under the 2K19 Master Plan with a complete PR of 2.8. The ground likewise includes an allowable elevation of approximately eight levels.
Baode Building is positioned in close proximity to Paya Lebar Train interchange terminal also is linked up to the KPE and PIE.
The project is additionally near to Singpost Centre, Paya Lebar Square and also Paya Lebar Quarter Mall, whereas nearby academies consist of GMPS as well as Kong Hwa Pri Sch.
“This spot exhibits a fascinating potentiality for rearranging the resource or freshen up considering that it’s positioned near the Paya Lebar neighborhood in which the URA Master Plan visualize to grow Paya Lebar Hub into a bustling commercial center,” mentioned Steven Tan, Exec Director of Investment Services at Colliers International.
“The unusual freehold period of the ground potentially establishes lasting peace of mind for property developers, even more so at such a primary employment place,” he said further.
The en bloc transaction bidding for Baode Building ceases on 18August.