Geylang development up for collective sale for $27mil
Baode Building, an eight floor household development at Eight Lorong Thirty Five Geylang, has already been put up for en bloc with a suggestive amount of $Twenty Seven mil, shared Colliers Int’l.
This calculates to a land estimate of approximately $Nine hundred Eighty Nine per square ft per plot ratio or $9hundred 67 psf per ground proportion since taking into account the 7 % reward veranda GFA.
The free lease development features Fourteen house units and covers a 1.0314K square metre plot that is zoned for home or institutional use under the 2019 Master Plan with a gross plot proportion of 2.8. The site similarly holds an allowed altitude of until 8 storeys.
Baode Building is placed in close proximity to Paya Lebar MRT interchange station and also is linked to the KPE plus Pan Island Expressway.
The project is also close to Singpost Centre, Paya Lebar Square plus Paya Lebar Quarter Mall, whereas neighboring schools feature Geylang Methodist Primary Sch and Kong Hwa Primary Sch.
“This plot boasts an interesting capacity for rebranding or shifting the possession given that it’s found near the Paya Lebar neighborhood in which the URA Master Plan visualize to build Paya Lebar Central in the direction of through to a dynamic industrial hub,” revealed Steven Tan, Executive Director of IS at Colliers International.
“The rare free lease term of the spot definitely guarantees lasting reassurance for makers, in particular at this sort of a primary job community,” he further mentioned.
The combined sale transaction offer for Baode Building concludes on 18Aug.