Geylang development up for collective sale for $27mil
Baode Building, a 8 level domestic project at 8 Lor Thirty Five Geylang, has been launched for combined sale with a suggestive cost of $Twenty Seven mil, revealed Colliers Int’l.
This attains to a land price of about $9hundred 89 per square ft per land proportion or $Nine hundred Sixty Seven per sq ft per PR since considering the Seven percent benefit terrace total ground size.
The free rental project presents Fourteen accomodation units and also holds a 1,031.4 square meter place that is allocated for domestic or institutional purpose beneath the 2019 Master Plan with a total PR of 2.8. The place similarly carries a permitted elevation of until eight storeys.
Baode Building lies close to Paya Lebar MRT interchange station and also is attached to the KPE also PIE.
The development is in addition near Singpost Centre, Paya Lebar Square and also Paya Lebar Quarter Shopping center, whereas proximate academic institutions include Geylang Methodist Pri Sch as well as Kong Hwa Pri Sch.
“This location possesses a fantastic potentiality for repositioning the property or rebranding as it’s found close to the Paya Lebar area where the Urban Redevelopment Authority Master Plan imagine to grow Paya Lebar Central in to a busy business hub,” claimed Steven Tan, ED of IS at Colliers Int’l.
“The rare freehold tenure of the plot at the same time makes certain extended confidence for developers, in particular at this sort of a notable occupation zone,” he added.
The combined sale transaction offer for Baode Building terminates on 18 Aug.