Geylang development up for collective sale for $27mil
Baode Building, a 8 storey residence project at Eight Lorong 35 Geylang, has already been put together for en bloc by having an indicative price of $27 million, exposed Colliers Int’l.
This achieves to a land cost of roughly $989 psf per PR or $9hundred 67 psf per PR when considering the Seven percent added patio gross floor area.
The free lease development includes 14 home units and also fills a 1,031.4 square m place that is zoned for institutional or household benefit beneath the 2K19 Master Plan with a gross PR of 2.8. The spot likewise gets a permitted height of as much as 8 floors.
Baode Building stands close to Paya Lebar Mass Rapid Transit interchange terminal plus is linked up to the Kallang-Paya Lebar Highway plus PIE.
The project is as well alongside Singpost Centre, Paya Lebar Square plus PLQ Shopping mall, meantime proximate academies consist of Geylang Methodist Primary Sch and also KHPS.
“This ground owns an amazing capability for freshen up or shifting the property considering that it is situated close to the Paya Lebar area exactly where the Urban Redevelopment Authority Master Plan envisage to grow Paya Lebar Central in the direction of through to a dynamic business hub,” pointed out Steven Tan, ED of IS at Colliers Int’l.
“The rare free rental tenancy of the ground definitely establishes extended peace of mind for makers, even more so at this type of a significant job place,” he included.
The joint sale transaction offer for Baode Building terminates on 18 August.