GSM Building at 141 Middle Road has been introduced for enbloc sale
GSM Building at 141 Middle Road has been introduced for en bloc sale at a base price of $98 million. It is the very first commercial site to be introduced since the removal of some “lockdown” measures on June 2.
The property, a corner double-frontage tower facing Middle Road, has a balance lease term of approximately 61 years. The site, with an acreage of 12,003 sq ft, is zoned for business usage with a 4.2 plot ratio and also an elevation limitation of up to 16 storeys, based on intending approval.
The structure has three retail units on the level one and 30 office units on the upper 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 also Bugis MRT Station, which is an interchange for the East-West Line and also Downtown Line.
In addition, the commercial property remains in close proximity to shopping centres such as Bugis Junction, Bugis+, Bugis Village as well as Sim Lim Square. There are additionally numerous schools in the vicinity, including Singapore Management University, School of the Arts, Lasalle College of Arts and also Nanyang Academy of Art.
The buyer will certainly gain from upcoming developments in the Bugis, Bras Basah and Beach Road vicinity. Mixed-used development Guoco Midtown by GuocoLand and also luxurious residential condominium The M by WingTai Asia are being constructed at the moment. Under URA’s Draft Master Plan 2019, new park areas and streetscape improvements will be presented in Bugis, and Kampong Bugis along Kallang River will likewise be created as a car-lite residential precinct with about 4,000 units.
The tender exercise closes at 3pm on July 16. The property is marketed by Midtown Bay Mount Everest Feature.