Geylang development up for collective sale for $27mil
Baode Building, a 8 level housing development at Eight Lor 35 Geylang, has been put together for collective sale by having a suggestive cost of $27 mil, reported Colliers Int’l.
This figures out to a land estimate of approximately $989 psf per plot proportion or $967 per square ft per PR upon considering the Seven percent bonus deck GFA.
The free lease development features 14 home apartments also fills a 1,031.4 sq m ground that is sector for institutional or household use beneath the 2019 Master Plan with a gross piece proportion of 2.8. The site at the same time holds an allowed tallness of until 8 levels.
Baode Building is located nearby Paya Lebar Mass Rapid Transit interchange station and is linked to the Kallang-Paya Lebar Highway also Pan Island Highway.
The project is also close to Singpost Centre, Paya Lebar Square including PLQ Mall, whereas proximate schools involve GMPS as well as Kong Hwa Primary Sch.
“This place possesses a remarkable opportunity for rearranging the asset or rebranding given that it’s placed near the Paya Lebar community in which the Urban Redevelopment Authority Master Plan visualize to generate Paya Lebar Central toward a dynamic business hub,” explained Steven Tan, ED of IS at Colliers International.
“The unusual free lease tenancy of the location furthermore ensures permanent reassurance for makers, even more so at this type of a major recruitment location,” he boosted.
The en bloc sale offer for Baode Building ceases on 18Aug.