Geylang development up for collective sale for $27mil
Baode Building, a 8 level residence project at 8 Lor 35 Geylang, has been put together for en bloc by having a suggestive rate of $Twenty Seven mil, exposed Colliers Int’l.
This calculates to a land cost of about $989 psf per PR or $Nine hundred Sixty Seven psf per PR upon including the Seven percent bonus terrace gross ground size.
The free lease project offers 14 accomodation apartments and covers a 1.0314K sq meter ground that is sector for institutional or non commercial usage beneath the ’19 Master Plan with a total PR of 2.8. The site similarly secures an allowable elevation of around 8 floors.
Baode Building lies in close proximity to Paya Lebar MRT interchange station plus is networked to the KPE and Pan Island Expressway.
The project is additionally close to Singpost Centre, Paya Lebar Square and Paya Lebar Quarter Mall, while proximate schools involve Geylang Methodist Primary School and KHPS.
“This location owns a fascinating potential for repositioning the property or rebranding considering that it’s placed near the Paya Lebar district where the Urban Redevelopment Authority Master Plan picture to build Paya Lebar Central in the direction of through to a busy industrial center,” stated Steven Tan, ED of Investment Services at Colliers Int’l.
“The uncommon free lease period of the plot at the same time assures long-lasting peace of mind for real estate investors, even more so at such a notable work location,” he said further.
The en bloc transaction tender for Baode Building closes on 18Aug.