Geylang development up for collective sale for $27mil
Baode Building, a 8 level non commercial development at 8 Lorong 35 Geylang, has been put up for combined sale by having a suggestive price of $27 million, communicated Colliers International.
This formulates to a ground cost of roughly $989 psf ppr or $967 psf ppr since taking into account the Seven percent reward porch GFA.
The free rental project presents 14 home flats also covers a 11.102K sq ft plot that is meant for household or institutional utilization beneath the 2K19 Master Plan with a complete PR of 2.8. The place similarly carries a permitted highness of as high as 8 levels.
Baode Building stands close to Paya Lebar Mass Rapid Transit interchange terminal furthermore is connected to the KPE plus Pan Island Highway.
The project is additionally near to Singpost Centre, Paya Lebar Square and Paya Lebar Quarter Shopping center, meantime nearby institutions involve Geylang Methodist Pri School as well as KHPS.
“This location claims an impressive potential for freshen up or rearranging the property given that it is found close to the Paya Lebar precinct where the URA Master Plan imagine to establish Paya Lebar Hub right into a busy business hub,” reported Steven Tan, Exec Dir of Investment Services at Colliers Int’l.
“The uncommon free rental period of the location also provides long-term confidence for developers, especially at this type of a major occupation zone,” he added.
The en bloc transaction bidding for Baode Building closes on 18 Aug.