Bagnall Court up for collective sale at $125 mil
JLL notes that the residential property has a development primary equal to a gross plot ratio of concerning 1.4904. As such, only a reasonably tiny part of the extra gross flooring area GFA draws in a land improvement charge. There is also 4,600 sq ft of remnant state land that might likely be joined together right into the location for redevelopment, enabling additional new units.
Various other facilities close-by feature Eastwood Centre as well as Bedok Food Centre, which are within strolling proximity. Changi City Point, East Village, as well as the Simpang Bedok collection of restaurants are inside brief driving distance.
The guide cost translates to a land cost of relating to $1,260 psf per plot ratio (psf ppr) at the base gross plot ratio of 1.4 as well as taking into consideration a projected land costs for the state property. Inclusive of an bonus 8% additional GFA, the unit land price will be close to $1,180 psf ppr. JLL highlights hat the unit area fees are determined based on the past project fee prices since March 1, as the modified fees to be reliable from Sept 1 have yet to get introduced by the relevant authority among transitioning from the development cost system to the colony betterment charge.
The building was constructed in the 1990s as well as makes up 43 walk-up condos, spread out throughout two neighborhoods that are 4 floors each. It has an acreage of 69,563 sq ft zoned for residence use with a gross plot ratio of 1.4 and also an allowable level of up to five storeys.
Bagnall Court lies at the end of Upper East Shore Road near the Bedok Road crossroads, opposite the Laguna Gold and Country Club and Bedok Camp. It adjoins the upcoming Sungei Bedok MRT Station, which is an interchange for the Downtown and Thomson-East Coast Lines slated to open up in 2025.
Bagnall Court, an estate residential development located on Upper East Coast Road, is up for cumulative sale by tender at an overview rate of $125 million. Greater than 80% of owners have actually granted the sale, according to advertising broker JLL.
Consisting of the state property and also based upon the minimal average unit measurements of 85 sqm (914 sq ft), the location may fit approximately 113 flats.
Tan Hong Boon, executive director of capital markets at JLL, assumes the location to draw in keen competitors from medium-sized firms, provided its “manageable quantum” opposing a lot larger Government Land Sale (GLS) areas. “The overview cost of $125 million is a very sensible pricing for a property household area of such size as it contrasts truly positively with several recent sales of rural 99-year leasehold places, which are presently at these price index,” he includes.
The tender will finalize on Oct 26 at 3pm.