Bagnall Court up for collective sale at $125 mil
Bagnall Court lies at the end of Upper East Shore Road near the Bedok Road crossroads, opposite the Laguna Gold and Country Club and also Bedok Camp. It borders the upcoming Sungei Bedok MRT Station, which is an interchange for the Downtown as well as Thomson-East Shore Lines register to open in 2025.
Including the state area as well as based upon the minimal average unit measurements of 85 sqm (914 sq ft), the place may suit as much as 113 condos.
The overview cost equates 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 account an approximated land premium for the state property. Inclusive of an extra 8% bonus GFA, the unit land charge will be approximately $1,180 psf ppr. JLL highlights hat the unit property prices are assessed based on the past property charge prices as of March 1, as the revised rates to be reliable from Sept 1 have yet to be announced by the appropriate authority between switch from the development expense system to the new land betterment charge.
Tan Hong Boon, executive supervisor of capital markets at JLL, anticipates the place to bring in keen competition from medium-sized developers, provided its “workable quantum” opposing much bigger Government Land Sale (GLS) sites. “The overview price of $125 million is an incredibly affordable pricing for a property site of such size as it compares truly positively with several current sales of suburban 99-year leasehold places, which are already at these price levels,” he adds.
JLL marks that the residential property has a development baseline comparable to a gross plot ratio of about 1.4904. Because of this, just a relatively little part of the bonus gross flooring section GFA draws in a land enhancement fee. There is also 4,600 sq ft of remnant state land that may potentially be integrated within the location for redevelopment, permitting extra new units.
The residential property was constructed in the 1990s as well as comprises 43 walk-up apartments, proliferated throughout two blocks that are 4 storeys 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 allowed elevation of up to 5 floors.
Bagnall Court, an estate home property development found on Upper East Coast Road, is up for collective sale by tender at a guide value of $125 million. Beyond 80% of proprietors have actually granted the sale, according to advertising and marketing representative JLL.
Other facilities close-by feature Eastwood Centre and also Bedok Food Centre, which are within walking range. Changi City Point, East Town, and the Simpang Bedok cluster of dining establishments are throughout brief driving distance.
The tender will finalize on Oct 26 at 3pm.
